Heavy commercial vehicle dashboard cameras are a specialised, compact and portable onboard video recording camera which are placed inside of the vehicle & hence continuously records the view through the front windscreen. The demand for dashboard cameras has grown significantly owing to the legal protection by the insurance companies in case of vehicle collisions and increasing number of cargo thefts from the heavy commercial vehicles. Furthermore, the recordings from the camera is used for gathering up evidence for insurance claims and thereby, preventing any insurance frauds. Moreover, discounts on insurance premiums are provided by the companies to the vehicles which are equipped with dashboard cameras. Therefore, the high acceptance for latest technology and discounts on insurance premiums is expected to drive the market growth for the heavy commercial vehicle dashboard camera market growth.
Major Market Players:
Hewlett-Packard, DOD-Tech Co. Ltd., ABEO Company, Panasonic Corp, Aiptek Inc., Garmin, LG Corp, Qrontech Co. Ltd., Pittasoft and Satechi Baravon.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Rising number of road accidents & cargo thefts, favourable initiatives pertaining to the usage of dashboard cameras and implementation of stringent government regulations due to rise in number of insurance frauds are driving the growth of the market. However, reliability & privacy issues and laws restricting the use of dash cams in countries such as Austria & Luxembourg are expected to hamper the growth of the market. Contrarily, increasing adoption of dashboard cameras in heavy commercial vehicles and government initiatives encouraging the use of these cameras creates a favourable condition for the implementation of dashboard cameras which can be an opportunity for the market investments.
The heavy commercial vehicle dashboard camera market trends are as follows:
Implementation of stringent government regulations due to rise in number of insurance frauds Dashboard cameras have become a vital component in the automotive industry as it helps in reducing the number of insurance frauds by presenting appropriate proof to the companies for the claim. Furthermore, governments around the world are focusing on reducing the number of insurance frauds & cargo thefts from the heavy commercial vehicles by implementing strict norms for the vehicle owners to install dashboard cameras. Owing to the stringent regulations various heavy commercial vehicle manufacturers has decided to produce the vehicles with required components. For instance, in the year 2018, heavy commercial vehicle manufacturer, Mercedes-Benz has launched its first truck with a factory-fitted dash cam to be sold in Poland. The dashboard camera is integrated into the rear-view mirror which records footage continuously unless the driver switches it off. Therefore, implementation of stringent government regulations due to rise in number of insurance frauds, will foster the growth for the heavy commercial vehicle dashboard camera market.
• Single Channel
• Dual Channel
• Gravity Sensor
• Standard Definition (SD)
• High Definition (HD)
• Full High Definition (Full HD)
• Ultra-High Definition (4K)
COVID-19 scenario Analysis:
• Coronavirus has disrupted operations for the heavy commercial vehicle dashboard camera manufacturers due to lockdowns across the affected countries which in turn will affect the heavy commercial vehicle dashboard camera industry and has experienced a major demand disruptions and factory closure owing to the pandemic.
• The vendors in heavy commercial vehicle dashboard camera industry across the globe are suffering due to the market disruptions in the supply chain network owing to the government declared lockdowns which in turn further affects the global heavy commercial vehicle dashboard camera manufacturers worldwide.
• The rapidly changing demand has substantially disrupted the production process during the coronavirus pandemic, which has severely impacted the heavy commercial vehicle dashboard camera market and hence disrupting the manufacturing process due to government declared shutdown.
Key benefits of the report:
• This study presents the analytical depiction of the heavy commercial vehicle dashboard camera industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with challenges of the heavy commercial vehicle dashboard camera market.
• The current market is quantitatively analyzed from 2019 to 2027 to highlight the heavy commercial vehicle dashboard camera market growth scenario.
• We can also determine dashboard cameras will remain a significant revenue shareholder in the global heavy commercial vehicle dashboard camera market through the predictable future.
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