![]() ![]() The growth in sales of used vehicles was significantly high at the end of 2020, majorly since buyers were concerned about their health security while traveling in the public transport systems, including buses and trains. However, in several developed countries, including the United States, Germany, and Japan, the buyer's tendency toward investing in new technology electronic equipment, including dashcams, increased post-October 2020. The automotive industry was undergoing a severe economic crisis due to the pandemic as the new orders for passenger cars and commercial vehicles declined considerably in the first two quarters of 2020. The COVID-19 pandemic, which resulted in a temporary shutdown of most manufacturing facilities in China, Taiwan, and Japan, caused a severe shortage in western countries. The global market witnessed a substantial decline in sales in the first quarter of 2020, as most of these cameras in North America and Europe are imported from Asian manufacturing units. The market has gone from being focused on China's supply chain disruption to the global slump in demand for auto products. COVID-19 significantly impacted the supply chain and product demand in the automotive industry. Increased Sales of Dashboard Cameras Fueled the Market Growth Amid COVID-19ĭuring the COVID-19 outbreak, the automotive and transport industries were among the most exposed verticals. Drivers driving responsibly and safely get a higher score, and Aviva reduces their premiums. Moreover, Aviva uses the technology for its car camera to give the consumer a score after each journey. Aviva, AXA, and Swiftcover are some of the insurers which offer a free dashcam to the consumers who prove that they have installed it in their car. Some insurers even offer a discount if a dashboard camera is fitted in the car. They can therefore be used to prevent future accidents by reporting reckless and dangerous drivers.Ī dashcam can have cost-effective benefits for car users with its lower insurance premiums. For instance, law enforcement authorities in the U.K. ![]() The camera is conveniently placed to observe the whole of the road ahead therefore, there is evidence of an accident in front of the driver or the driver involved. A dashcam is extremely helpful in case of accidents. Based on our analysis, the global market exhibited a rise of 12.8% in 2020 compared to 2019.Ī dashboard camera, also known as a dashcam, is an onboard camera that is fixed on the vehicle's front windscreen and sometimes rear windows, continuously recording the view. The global COVID-19 pandemic has been unprecedented and staggering, with dashboard cameras experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The market is projected to grow from USD 4.21 billion in 2022 to USD 16.8 billion by 2029, exhibiting a CAGR of 21.8% during the forecast period. The global dashboard camera market size stood at USD 3.53 billion in 2021. ![]()
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