Global Automotive Event Data Recorder (EDR) Market 2019-2023| Development of Autonomous Vehicles to Boost Demand| Technavio

LONDON--(BUSINESS WIRE)--Jun 13, 2019--

The global automotive event data recorder (EDR) market is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio.

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Technavio has published a new market research report on the global automotive event data recorder (EDR) market from 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the global automotive event data recorder (EDR) market size is the insurance premium discounts for vehicles with EDR. The global automotive insurance market is witnessing an increase in the installation of telematics systems that are used to track driving behavior. However, it becomes difficult for telematics systems to track or record accidents as these systems cannot differentiate between the usual driving behavior, and the behavior that arises out of impulse in case of accidents. Automotive EDRs can continuously record critical information of vehicles, which can be used to monitor the driving behavior and produce evidence in case of accidents. As a result, vehicle insurance providers offer discounts on premiums for vehicles that are installed with EDRs such as dashboard cameras. This is expected to propel the demand for automotive EDR during the forecast period.

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 global automotive event data recorder (EDR) market 2019-2023 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

Automotive manufacturers and technology providers are increasingly pooling their research and development resources to design and develop fully functioning autonomous vehicles. The funding to develop autonomous technologies is expected to increase during the forecast period. This increase in efforts by automotive OEMs to test autonomous vehicles across different localities will increase the demand for automotive EDR during the forecast period.

“Apart from the development of autonomous vehicles, other factors such as the growing popularity of dashboard cameras for event recording, and the implementation of 5G technology and integration of eCall systems with other onboard systems will have a significant impact on the automotive event data recorder (EDR) market growth during the forecast period,” says a senior analyst at Technavio.

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 geographic regions (APAC, Europe, North America, South America, and MEA).

The North American region led the automotive event data recorder (EDR) market in 2018, followed by Europe, APAC, South America, and MEA respectively. The rising number of road crashes in the US and Canada is increasing the number of insurance claims. As the absence of valid evidence extends the timeline of the insurance claim process, insurance companies in North America are increasingly promoting the installation of EDRs that monitor events and driving behavior. This is expected to propel the demand for automotive EDRs in North America during the forecast period.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technaviois a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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CONTACT: Technavio Research

Jesse Maida

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US: +1 844 364 1100

UK: +44 203 893 3200



SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 06/13/2019 08:00 AM/DISC: 06/13/2019 08:01 AM

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