Trends and insights of dashcams for cars’ market

What is a car dashcam 

Nowadays,  dashcams are becoming increasingly popular with individuals and businesses due to their application to help reduce accidents, insurance premiums and to help correct drivers’behaviour.

A dashcam is an integrated camera that can be placed on the car dashboard, on the sides or rear of the vehicle to record everything that happens outside.

This type of technology provides first-hand knowledge of what has happened in the moments before an accident and helps to analysethe driver's behaviour in order to clarify the facts for insurance claims and correct certain actions if necessary to help avoid future collisions.

These road-facing cameras can detect events related to lane departure and following distance, which may be indicative of improved driver behaviour.

The market of car dashcams 

According to a Berg Insight research, the exponential growth of dashcams in personal vehicles accounted for the largest revenue share of over 65.0% in 2020 and is expected to register the highest annual growth from 2021 to 2028. The reason for this is the growing awareness of the benefits of dashcams and standard laws, regulations regarding road safety around the world.(1)

These recordings are critical to monitor driver behaviour and help reduce accidents and false accident claims. According to a recent study conducted by Bobit Business Media for Verizon Connect in US, 38% of in-cab video adopters reduced accident costs and 44% lowered their insurance costs.(3)

The future of the car dashcams

According to a research of Berg Insight, video telematics is now in a growth period that is expected to last for many years to come. The most advanced markets are North America and the UK, where many of the leading providers are based and have been the most successful so far. Berg Insight foresees continued strong uptake of video telematics solutions in all geographies including Australia and beyond in 2021–2025.(4)

The increasing number of car thefts and accidents, as well as government policies are significantly driving the demand for such products in recent years. 

In the short term, the demand for advanced functionalities such as driver assistance, including blind spot detection, lane departure warning systems or collision avoidance systems will be highly valued by businesseswho see these products as a great ally to help prevent accidents and avoid fraudulent penalties.

Video telematics is indeed becoming increasingly mainstream as barriers related to driver privacy are gradually overcome. Advanced artificial intelligence and machine vision capabilities are moreover becoming increasingly common elements of video telematics offerings. In addition, the implementation of 2-channel dashboard cameras in such vehicles is expected to help fleet managers see the full picture.

How do car dashcams work

Verizon Connect Integrated Video  unites the power of HD video, AI and driver data and provides high levels of security for the data captured and stored within our telematics systems. 

The installation of this dashcam is really simple and in an experienced workshop usually takes about 30 minutes. The installer attaches the camera to the dashboard and connects the video output cable to the GPS device(usually under the dashboard). 

The dashcam starts automatically recording on starting the vehicle/engine, if any acceleration, deceleration or sharp turn occurs, the GPS system classifies the event as either of the following: collision, dangerous, rough or low risk driving, and sends a notification with the recording to the fleet manager for review.

This information is very useful to improve driving style, as it allows you to review what has happened and how to help prevent it in the future. In addition, the Verizon Connect dashcam allows you to request video of a specific moment, preview the clip and receive the video in your email within minutes for decision making.

See in action the Verizon Connect dashcam.

Get a free demo here

Sources:

(1,2,4) The Video Telematics Market. M2M Research Series 2021.www.berginsight.com

(3)  2022 US Fleet Technology Trends Report