Car DVR Market Revenue Forecast Recorded During Forecast Period by 2022

Posted by Jack Martin on January 9th, 2020

To be precise, compact camera devices which are linked to the car windshield or dashboard are termed as car DVR (digital video recorder). Typically, car DVRs are deployed in interiors or exteriors of vehicles with a purpose to record videos which are later preserved in digital format. The actual motive of recording video evidences using a car DVR is to sort out insurance cases in case of an accident or mishap on the road. At present, traffic and crime investigation authorities have made it significant that installing a dash cam for recording videos should be supported for managing parking mishaps, driving disputes and road accidents. Such aspects have surely supported the demand for car DVR systems which are likely to exhibit greater market revenue in the coming years, as per Fact.MR’s recently published study. This assessment is titled “Car DVR Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022”, which diligently targets the overall market scenario across the car DVR sector, highlighting key facets such as market size (US$ Mn), macroeconomic factors, market dynamics, Y-o-Y growth, supply chain and a lot more.

Request Sample Report- https://www.factmr.com/connectus/sample?flag=S&rep_id=28

With a stern outlook across the global car DVR sector, it has been detailed that the target market would possibly hit US$ 1.5 Bn by the end of 2022. At this pace, the car DVR market is expected to exhibit notable expansion at 7.5% CAGR during the stated forecast period. One of the prominent reasons for this robust development is the gradual progress across relatively low performing car DVR markets active in developing regions.

Demand for Mid-Priced and Low-Priced Car DVR Systems Drawing Higher Sales

At present, mid-priced car DVR is gaining higher prominence as well as significant revenue share in the overall car DVR market. It has been noticed that several manufacturers from the global market scenario are prioritizing the product offering extension, especially in the low-priced car DVR range, permitting it to acquire more than half of the total market value by 2022-end. According to this Fact.MR assessment, both low-priced and mid-priced car DVR are likely to witness promising prospects in the next few years, but the consistent drop in high-priced/expensive car DVR would remain the same.

Multi-functional Car DVR for Connected Cars Set to Deliver Greater Revenues

With the launch of IoT enabled vehicles as well as connected cars, the need for automotive electronic devices such as car DVR is projected to surge with greater force. Furthermore, the emergence of diverse applications in futuristic cars together with a vast pool of untapped security and safety concerns linked with the application of car DVRs, the global car DVR market is anticipated to experience multiple opportunities focused at car DVR security and susceptibility.

Regional Market Outlook

As per report findings, the key regional markets include North America and Europe, which account a substantial share in the total car DVR market. Interestingly, Japan being an initial adopter of technology inventions is assumed to function as a highly lucrative automotive market, thereby, supporting car DVR manufacturers in the coming years. The Japanese car DVR market is expected to deliver a notable valuation close to US$ 125 Mn through 2022.

Some of the major players operating in the car DVR market include names like Panasonic Corporation, Garmin Ltd., Honeywell, Amcrest Technologies, Lukas, Cobra Electronics Corporation, Hdigital-eye ltd. (VicoVation), ITronics Group, WatchGuard Video, PAPAGO Inc., Blackvue, Fine Digital Inc. etc.