Global Event Data Recorders Market Share Is Expected To Grow At A CAGR Of 13.4% By 2026

05-Feb-2020 | Facts and Factors

Facts and Factors have authored “Event Data Recorders Market By Applications of Event Data Recorders (Automobile OEM, Automobile Aftermarket Industry): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 2026”. Based on our analysis, the global event data recorders market in 2019 is approximately USD 4,439 Million and is anticipated to reach around USD 10,702.4 Million by 2026. The anticipated CAGR for the event data recorders market is around 13.4% from 2020 to 2026.

An Event Data Recorder (EDR) is an onboard device that receives information from various sensors and records that information received several seconds before and/or a fraction of seconds after a crash or near-crash situation. The data recorded varies according to model and information includes driver inputs, pre-crash vehicle dynamics, and system status, and vehicle crash signature data among others.

The vehicle data recorder is divided into Journey Data Recorders (JDR), which is used to record vehicle dynamics throughout the entire trip, or Event Data Recorders (EDR) which is used to record pre-crash events and post-crash events for a few seconds. Further, Video Event Data Recorders (VEDRs), record the surrounding environment of the vehicle.

Browse the full “Event Data Recorders Market By Applications of Event Data Recorders (Automobile OEM, Automobile Aftermarket Industry): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 2026” Report at https://www.fnfresearch.com/event-data-recorders-market-by-applications-of-event

The growing adoption of event data recorders owing to its public awareness regarding safety is the key factor that is influencing the demand of the market. The implementation of EDR on every new vehicle has aided the investigators to know the exact cause of the crash and the working of vehicle components at the time of the crash. Rising technological advancements in the automotive industry in developing economies is rapidly accelerating the event data recorder market. Moreover, strategic collaborations between automotive manufacturers with technology providers are anticipated to grow the demand of the market.

For instance, in 2017 Intel Corporation, a multinational technology provider enterprise acquired Mobileye, an advanced driver assistance systems, and autonomous driving provider. The deal enabled Intel Corporation to accelerate innovation for the automotive industry and position it as a technology provider for fully autonomous vehicles.  All these above factors will boost the event data recorder market over the forecast period.

Although EDRs are part of growing technological revolutions in road transport by connecting via an Intelligent Transport System to a network, the data collected cannot be monitored and controlled by drivers and passengers of vehicles without adequate privacy protections. Data collection from EDR devices raises privacy concerns for drivers and passengers, which are part of the broader debate on the information society's technological developments. Concerns issues regarding data in the market are considered to be one of the factors hindering market growth. Moreover, in the last few years, the popularity of the EDR is increasing owing to road safety and as a result, it is creating new potential opportunities for the players in the market space.

The global Event Data Recorder (EDR) market has been segmented on the basis of application. On the basis of the application, the market is bifurcated into original equipment manufacturers and the aftermarket industry. OEM is the original manufacturer of vehicle components and the Automobile aftermarket is a secondary market that is associated with the manufacturing, distribution, retailing, and installation of every vehicle parts. Consumers widely prefer OEM as it ensures high quality and compatibility of the parts replaced. These EDR products are used by automobile manufacturers and suppliers and hence rise in the production of the automobile industry is boosting these markets.

The global EDR market is analyzed by five major regions including North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa.  The U.S. in North America and Europe are the two regions that are dominating the market as it holds the largest market share in the global EDR market.  The Asia Pacific is estimated to grow at the highest rate over the forecast period.

Furthermore, the increasing trend for autonomous vehicles in Japan and China is expected to provide a good opportunity for EDR and related products in the coming years. Therefore, Japan and China in the Asia Pacific region are projected to be the most lucrative countries for the EDR market in the coming years.

Report Scope

Some of the major players analyzed and profiled in the market study are Robert Bosch GmbH, Digital Ally Inc., Octo Telematics, Shenzhen DOME Technology Co., Ltd, Shenzhen Relee Electronics & Technology Co,. Ltd, VACRON, Zeitronix, Garmin Ltd, Pittasoft(BlackVue), COBAN Technologies, Inc, Omnitracs, Safety Vision, LLC, WatchGuard Video, Continental AG, and Harman International Industries, Inc amongst others.

This report segments the Event Data Recorders Market as follows:

Global Event Data Recorders Market: Application Segment Analysis

• Automobile OEM
• Automobile Aftermarket

Global Event Data Recorders Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-East Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• The Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle-East Africa

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