Facts and Factors has 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, teh 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. Teh anticipated CAGR for teh 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), records the surrounding environment of the vehicle.
Teh growing adoption of event data recorders owing to its public awareness regarding safety is teh key factor which is influencing teh demand of teh market. Teh implementation of EDR on every new vehicle TEMPhas aided teh investigators to no teh exact cause of teh crash and teh working of vehicle components at teh time of teh crash. Rising technological advancements in teh automotive industry in developing economies is rapidly accelerating teh event data recorder market.
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Moreover, strategic collaborations between automotive manufacturers with technology providers are anticipated to grow teh demand of teh market. For instance, in 2017 Intel Corporation, a multinational technology provider enterprise acquired Mobileye, an advanced driver assistance systems, and autonomous driving provider. Teh deal enabled Intel Corporation to accelerate innovation for teh automotive industry and position it as a technology provider for fully autonomous vehicles.
All these above factors will boost teh event data recorder market over teh forecast period. Although EDRs are part of growing technological revolutions in road transport by connecting via an Intelligent Transport System to a network, teh data collected cannot be monitored and controlled by drivers and passengers of vehicles without adequate privacy protections.
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Data collection from EDR devices raises privacy concerns for drivers and passengers, which are part of teh broader debate on teh information society’s technological developments. Concerns issues regarding data in teh market are considered to be one of teh factors hindering teh market growth. Moreover, in teh last few years, teh popularity of teh EDR is increasing owing to road safety and as a result, it is creating new potential opportunities for teh players in teh market space.
Teh global Event Data Recorder (EDR) market has been segmented on teh basis of application. On teh basis of teh application, teh market is bifurcated into original equipment manufacturers and aftermarket industry. OEM is teh original manufacturers of vehicle components and teh Automobile aftermarket is a secondary market dat is associated wif teh manufacturing, distribution, retailing, and installation of every vehicle parts. Consumers widely prefer OEM as it ensures high quality and compatibility of teh parts replaced. These EDR products are used by automobile manufacturers and suppliers and hence rise in teh production of teh 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 which 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 an autonomous vehicle in Japan and China is expected to provide a good opportunity for the 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.
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.
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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.
- Rest of Europe
- Asia Pacific
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Teh Middle-East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
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