Driving Recorder Market: Introduction
- Driving recorder, sometimes called dash camera, is primarily used to record audio and video while driving on a road in a truck, car, or bus. A special purpose camera acts like a CCTV camera in a vehicle and is mounted on the dashboard of the car. The camera records every detail happening both inside the car and on the road. Dash cameras are used by driving instructors, regular drivers, police officers, and drivers of public transport buses and taxies.
Key Drivers of the Global Driving Recorder Market
- Rising awareness among end-users about the importance of dash cameras is a key driver in the global driving recorder market. Driving cameras are identified as the perfect solution to report undisciplined drivers responsible for road accidents and vehicle crash incidents.
- Dash cameras are also important to assess the status of a car and other vehicles when someone lends it to friends or relatives. Most advanced dash cameras feature inbuilt GPS devices, which in addition to recording video and audio, records different street routes as well as the driving speed.
Opportunities in the Global Driving Recorder Market
- Increasing demand for advanced products with automatic operations is a key opportunity in the driving recorder market. An automatic driving recorder is viewed as a cost-effective and efficient alternative to conventional products as it uses in-built programs and software to adjust video quality, audio volume, recording speed, and size of the video or audio.
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COVID-19 Pandemic has lowered Demand across Downstream Industries
COVID-19 has largely affected the purchasing habits and spending patterns of consumers. With changing attitudes, consumers are prioritizing their expenses and are willing to pay only for essential products and services. Moreover, restrictions on social gatherings and strict lockdowns across the world has lowered the demand for driving recorders during the COVID-19 pandemic.
North America Recognized as the Major Market for Driving Recorders
- By region, the global driving recorder market is classified into South America (SA), North America (NA), Europe (EU), Middle East & Africa (MEA), and Asia Pacific (APAC).
- Country-level bifurcation of the North America market includes the forecast and analysis for the U.S., Canada, and Rest of North America. The country-level analysis and forecast of the Europe market covers the driving recorder market in the U.K., Germany, France, and Rest of Europe. Country-level analysis and forecast for the Asia Pacific market includes major countries in the region such as India, China, Japan, and Rest of Asia Pacific. Middle East & Africa country-level analysis and forecast for the driving recorder market includes GCC countries, South Africa, and Rest of Middle East & Africa. The South America driving recorder market is categorized into Brazil, and Rest of South America.
- The North America driving recorder market is witnessing strong research and development activities by key industry participants. Introduction of technically advanced and easy to use driving cameras is the key strategy of companies operating in the region. Furthermore, the market is driven by high consumer awareness and willingness to spend on recreational products.
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Key Players Operating in the Global Market
Key companies are developing innovative and diverse product portfolios through extensive research and development activities. Online marketing, multichannel sales and distribution, and integrated services are the key strategies of industry participants. Partnerships and collaborations with international distributors allows companies to market and sell their products in overseas markets.
Some of the major companies identified in the global driving recorder market are:
- Apeman International Co., Ltd.
- Garmin Ltd.
- Safe Cams
Global Driving Recorder Market: Research Scope
Global Driving Recorder Market, by Type
- SD Camera
- Network-connected Camera
Global Driving Recorder Market, by Application
Global Driving Recorder Market, by Distribution Channel
Global Driving Recorder Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the global driving recorder market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.