![]() ![]() Moreover, distracted driving is increasingly becoming a hurdle for safe driving and the cause of crashes in The United States, where 70% of commercial fleet crashes are due to distracted driving. For instance, Bengaluru-based Path-Partner deployed Driver Monitoring System (DMS) which helps to detect drivers’ behavior and alerts them when they become distracted or drowsy.Īccording to National Safety Council, more than 700 people get injured due to distracted driving. It also allows the company to prevent fraud and improve accident rates.įleet owners and aggregators such as Ola and Uber expect real benefits as they can check how the drivers are actually performing on the job. Dashboard camera plays a key role in bringing the operation cost down and can save the company time and money each year, thereby focusing on more important aspects and increasing companies’ profits. In industries, where most of the work relies upon fleet vehicles, the cost of operation skyrockets. How Fleet Management is driving the market for Dashboard Cameras?Ī dashboard camera serves as one of the best tools when it comes to fleet management. Even Branch Insurance, a company in Columbus, Ohio, started offering drivers an 8% discount on auto insurance if they have installed dashboard cameras. It is because more motorists are falling for 'crash for cash schemes, which costs the UK insurance industry over US$ 473 billion each year. ![]() Many countries, most notably the United Kingdom, offer drivers a discount if they have a dashboard camera installed in their vehicles. Installation of dashboard cameras helps to meet the benefits of insurance claims. Drivers are made an easy target even when they are a victim. Moreover, insurance fraud has been common these days. These statistics are insightful enough to make dashboard cameras mandatory, particularly for newer vehicles. Nearly US$115 Million could be saved by preventing deaths and reducing injuries. Almost 3.4% of India’s GDP is costed due to crashes in India. ![]() A recent report by the Ministry of Road Transport & Highways states that road crashes involve an economic cost as well. According to WHO, India tops the global numbers in road crash deaths. How Installation of Dashboard Cameras can help in Reducing Insurance Claims and Prevent Road Accidents?Ī dashboard camera is a preventative tool for reducing road accidents and increasing driver safety. It is expected that it will see a further rise and achieve a growth rate of 18.1% CAGR during the forecasted period. Between 20, basic dashboard cameras garnered 19.8% CAGR. Based on technology, basic dashboard cameras are in high demand. Personal Vehicle reported a 19.4% CAGR from 2017 to 2021 and is set to witness a growth rate of 17.6% from 2022 to 2032. With a projected CAGR of 18.3% for the next ten years, the market is likely to reach a valuation of nearly US$ 13 Billion by the end of 2032.įuture Market Insights’ analysis reveals that the top application of Dashboard Camera is in Personal Vehicles. The global Dashboard Camera market was valued at around US$ 2 Billion in 2021. Dashboard Camera Market Outlook (2022 to 2032) ![]()
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