Dashboard Camera Market Will Generate New Growth Opportunities By 2014 - 2020

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The global dashboard camera market marks the presence of a large number of players who are offering a wide range of products under driver-assistance systems, notes Transparency Market Research (TMR). A growing number of players are increasingly offering a variety of dashboard camera solutions to address the needs of original equipment manufacturers and fulfil the aftermarket requirements for solutions for road safety. Camera manufacturers and automotive players are constantly pursuing strategies based on improving their technical expertise to consolidate their position, finds TMR. This is expected to up the level of competition over the assessment period.
Top players operating in the dashboard camera market include DCS Systems Ltd., Pittasoft Co. Ltd., Qrontech Co., Ltd., Garmin International Inc, Harman International Inc, Papago Inc., and Delphi Automotive Systems Pvt Ltd.

dashboard-cameras-marketThe global dashboard camera market is projected to expand at a robust CAGR of 15.3% in between the forecast period of 2014 and 2020. Vis-à-vis revenue, the market stood at US$ 1,458.2 million in 2013 and is estimated to reach a worth of US$ 4.03 billion by the end of the forecast period.
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Stringent Implementation of Laws and Regulations on Road Safety World over Bolstering Demand
The global demand for dashboard camera market is driven by the presence of stringent laws and regulations on the road safety in several economies world over, coupled with the wide awareness of the benefits. The significant impetus by transport authorities to exhort private and commercial vehicles owners to adopt dashboard cameras provides a robust thrust to the demand in countries where these cameras are considered legal. Several insurance companies are also encouraging vehicle owners in installing these cameras by letting them settle insurance claims faster and charging less premiums. The declining price of dashboard cameras is also a significant factor boosting the market.
The integration of dashboard cameras with various driver-assistance functionalities by vehicle manufactures in various parts of the globe help them reap considerable significant edge over others.

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