The significant components that sway the growth of the worldwide automotive drive recorder market includes ascent in demand for traveler vehicles combined with safety and security concerns among purchasers, increment in number of street fatalities, high establishment cost, development in pattern of introducing advanced driver assistance system (ADAS), and authorities ordering establishment of cameras in vehicles. Each of these components are foreseen to defiantly affect the automotive drive recorder market amid the estimated time frame.
Consumer Preferences in Asia-Pacific Economies Such As China and India Helps To Drive the Market Growth
The Asia-Pacific market is foreseen to observe the most noteworthy development as far as income is concerned over the estimated time frame, enrolling a CAGR of more than 13% from 2018 to 2025. Strong vehicle deals in Asia-Pacific economies, for example, South Korea and India have decidedly affected regional development. Demand for basic dash cams from developing economies, particularly China and India, is anticipated to observe a considerable increment contrasted with different nations. Europe emerged as the main territorial section in terms of automotive drive camera production in 2017; local stipulate was pegged at over 10 million units in 2017. Automotive drive camera has increased gigantic notoriety in Russia attributable to rising instances of insurance fraud in case of accidents. These gadgets can be utilized as proof against money for accident tricks.