The global car DVR market size is projected to reach USD 3255.85 million by the end of 2027. Rising investments in technological integration have played a huge role in market growth. The presence of several large scale companies operating on the global stage will provide impetus to market growth. According to a report published by Fortune Business Insights, titled “Car Digital Video Recorder (DVR) Market Size, Share & Industry Analysis, By Type (Single Channel, Dual Channel), By Application (Passenger Car, Commercial Vehicle), and Regional Forecast, 2020-2027,” the market was worth USD 2616.00 million in 2019 and will exhibit a CAGR of 5.1% during the forecast period, 2020-2027.

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List of companies profiled in the report:

Garmin Ltd.
ABEO Technology
Pittasoft Co. Ltd.
Panasonic Corporation
Falcon Zero LLC
Cobra Electronics Corporation
DOD Tech
Increasing Number of Product Launches will Bode Well for Market Growth

The report encompasses several factors that have contributed to the growth of the overall market in recent years. It is observed that there are several companies in the global market, which has ultimately resulted in a competitive environment. This has made it increasingly difficult for companies to establish a standout position. As a result, companies are adopting newer strategies with a bid to establishing a stronghold in the market. It is seen that product innovations are an increasing trend among major companies across the world. In February 2019, Panasonic Corporation announced the launch of a new compact in-vehicle cam. The company introduced this product as part of its expanding Public Safety Solutions portfolio in North America. The AS-1 Arbitrator was introduced with the aim of establishing strong evidences for the law enforcement agencies. Panasonic’s latest product will enhanced video qualities and subsequently help the company acquire a wider consumer base in the forthcoming years.

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North America to Emerge Dominant; Presence of Several Large Scale Companies will Bode Well for Market Growth

The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The presence of several large scale companies in several countries across the world has had a huge say in the performance of the market in recent years. Accounting to the strict policies associated with accidental insurance, especially in the United States, the adoption of DVRs is high in this region. Moreover, the massive investments in product innovations will contribute to the growth of the regional market. As of 2019, the market in North America was worth 814.9 million and this value is projected to increase at a considerable pace in the coming years. The market in Europe will derive growth from the strict policies regarding the use of dash cams that has also been made compulsory in a few countries. The market in Asia Pacific is driven by the presence of several global manufacturers in countries such as China, India, and Japan.

Industry Developments:

January 2020 – Garmin International Inc. announced the launch of a new dash cam. The company introduced the ‘Garmin Dash Cam Tandem,’ the company's first dual-lens dash camera that provides drivers complete video coverage of their surroundings.

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