Dashboard cameras are enjoying rising popularity across the world. Besides the fact that their recordings are accepted as evidence in courts, they have numerous other benefits, from better insurance policies to being an indispensable tool in training new drivers.
But different countries have different traffic cultures, different laws and regulations, and at the end of the day – drivers think differently about recording things happening on public roads.
That being said, let’s take a look at what the Canadians think of dash cams, how receptive they are to the technology, and what trends we can expect in the mid-term and the long-term.
One in ten vehicles carry a cam
First and foremost – how popular are dash cams in Canada? According to the most recent report from a personal and business insurance company, ThinkInsure, they’re quite popular. Its latest report, dated August 2020, states that every tenth vehicle in the country carries at least one camera. The same source says dash cameras are rising in popularity, due to the fact that businesses and consumers can save money on insurance, catch insurance fraud, and help fight tickets.
Canada propelling the market forward
One in ten might not sound like much, but knowing that Canada has at least 35 million registered vehicles (official 2019 numbers from Canada’s national statistics office), that means that a minimum of 3,500,000 cars, trucks, and motorcycles, carry one of these devices.
It’s also worth mentioning that Canada is one of the few countries whose global market share is formidable, and who is expected to propel the market forward. As per a Grand View report in 2020, the size of the dashboard camera market, on a worldwide level, was in excess of $3 billion, achieving it with a compounding yearly rate of growth (CAGR) of 12.9%. Drivers in three countries are showing particular interest for the technology, the report says. Besides Canada, that includes France and Russia. These three will propel the market forward in the second half of the decade.
The Covid-19 effect
Despite the Covid-19 pandemic seemingly behind us, its ripple effect can still be felt across the industries, and the automotive industry hasn’t been spared. The lockdowns have made serious problems for supply chains, resulting in vehicle shipments being postponed, and in some cases – completely canceled.
With fewer vehicles being shipped out across the world, the demand for dash cams shrunk, as well. Knowing that the industry is still expected to grow at a double-digit compounding annual growth rate, shows how resilient the market is, and how in-demand the devices are.
Canada – an industry leader
Canada has more than 23,000 miles of highway roads, and more than 35 million vehicles, including more than 700,000 trucks that have grown accustomed to dash cams. With the market recovering from Covid-19 supply chain disruptions, and awareness of the advantages of dash cams growing by the day, Canada is uniquely positioned to become the global leader in the adoption of the technologies and the popularization of its benefits.