Global Automotive Event Data Recorder (EDR) Market 2019-2023 | Development of Autonomous Vehicles to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 14, 2019--
The global automotive event data recorder (EDR) market is expected to post a CAGR nearly 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global automotive event data recorder (EDR) market 2019-2023. (Graphic: Business Wire)
Telematics systems are used for tracking driving behavior. However, these telematics systems cannot differentiate between the usual driving behavior and the behavior that arises out of impulse in case of accidents. This drives the demand for automotive EDRs as they can continuously record critical information of vehicles. This information is used to monitor the driving behavior and produce evidence in case of accidents. Therefore, vehicle insurance providers offer discounts on premiums for vehicles that are installed with EDRs such as dashboard cameras. Thus, the availability of insurance premium discounts for vehicles with EDR will boost the growth of the automotive event data recorder market during the forecast period.
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As per Technavio, the development of autonomous vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Automotive Event Data Recorder (EDR) Market: Development of Autonomous Vehicles
Various technology providers and automotive manufacturers are increasingly pooling their research and development resources to design and develop fully functioning autonomous vehicles. In addition, the funding and investments to develop autonomous technologies is also increasing. The increase in efforts by automotive OEMs to develop and test autonomous vehicles across different localities will boost the demand for automotive EDR during the forecast period. Thus, with the increase in development of autonomous vehicles, the market for automotive event data recorder (EDR) is expected to showcase a positive outlook during the forecast period.
“Apart from the development of autonomous vehicles, the growing popularity of dashboard cameras for event recording and the implementation of 5G technology and integration of eCall systems with other onboard systems are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Automotive Event Data Recorder (EDR) Market: Segmentation Analysis
This market research report segments the global automotive event data recorder (EDR) market by application (passenger cars and commercial vehicles) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the high adoption of aftermarket camera-based EDRs such as dashboard cameras.
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Some of the key topics covered in the report include:
Five Forces Analysis
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SOURCE: Technavio Research
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