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:

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

Technavio is 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

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Website:https://www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE

SOURCE: Technavio Research

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PUB: 10/14/2019 06:25 AM/DISC: 10/14/2019 06:25 AM

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