Event Data Recorders Market Size, Share Global Analysis Report, 2019 - 2026

Industry Insights

According to the report published by Facts & Factors, the global Event Data Recorders market size was worth around USD 4439 million in 2019 and is predicted to grow around USD 10,702.4 million by 2026 with a compound annual growth rate (CAGR) of roughly 13.4% between 2020 and 2026. The report analyzes the global Event Data Recorders' market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Event Data Recorders market.

The report encompasses the forecast as well as an analysis of the event data recorders market on a global and regional level. The study displays historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million). Additionally, the market growth drivers, opportunities, limitations, and trends are also included in the event data recorders' market report. 

We have included industry analysis models in our report and extensively demonstrated the key business strategies and competitive landscape of the event data recorders market in our study. Our study also includes an analysis of Porter’s Five Forces framework for understanding the competitive strategies used by market competitors. It also encompasses PESTLE analysis and SWOT analysis of players.

Key Insights from Primary Research

• As per our primary respondents, the global event data recorders are set to grow annually at a rate of around 9% in 2019
• It was established through primary research that the event data recorders market was valued at around USD 4,500 Million in 2019.
• North America is presently holding the largest revenue share among all the regions and is further expected to maintain its position throughout the forecast period.
• The “Automobile OEM” category, on the basis of application segmentation, was the leading revenue-generating category accounting for around 90% share, in 2019.
• On the basis of regions and countries, Japan in the Asia Pacific region has the potential opportunities for the market players owing to the growing usage of ADAS

Key Recommendations from Analysts

• As per our analysts, the global event data recorders market is expected to grow significantly over the forecast period.
• The strategic and competitive advantage provided by the features of the event data recorders in the automotive industry is anticipated to be the key factor driving this market globally.
• Our team of analysts has identified, that developing nations such as Asia Pacific have huge potential opportunities for the players operating in this market.
• In recent years, the use of EDRs by automobile OEMs is growing rapidly as their product ensures good quality vehicle components and this segment is expected to be around USD 4000 Million in 2019.

Market Share – By Application

The report also offers an in-depth analysis of the market share of each industry player and gives an outline of the market position of key players in the event data recorders market. Moreover, the study offers wide coverage of key strategic improvements witnessed in the market such as acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, R&D activities, and geographical expansion of key players of the event data recorders market.

The study provides a decisive view of the event data recorders market by segmenting the wig market based on components, organization size, deployment types, end-use industry verticals, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2020 to 2026. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Market participants are investing heavily in various types of automotive developments. The current focus of the automotive industry is on research and development. Event Data Recorders (EDR) is a technological development by the automotive industry owing to reduce road accidents and raise safety. It is connected via an intelligent transportation system. Government initiatives towards autonomous vehicles and growing public concerns about safety are aiding the demand for event data recorders. Therefore, all these forces are propelling the event data recorders' market growth.

However, growing data privacy concerns is curbing the growth of the event data recorders market. Moreover, to gain a competitive edge, automobile manufacturers are taking strategic initiatives such as acquisitions and partnerships. Hence, it indicates that there will be an increase in demand for EDRs and as a result, it will influence the market over the forecast period.

Report Scope

The event data recorders market is segmented based on applications. OEM and aftermarket industry are the two segments that are categorized under the application segments. The EDR available in the aftermarket is less expensive than products of Original Equipment Manufacturers (OEM). Presently, consumer preferences towards OEM products are dominant in the market as it ensures that replacement components are of high quality.

EDRs are mostly installed and used by vehicle manufacturers, insurance companies, law enforcement agencies, and researchers. Currently, North America and Europe hold a large market share and it is expected that developing economies such as China and India will boost the growth of the event data recorders market in the upcoming years.

Key players operating in the event data recorders market are

• Robert Bosch GmbH
• Octo Telematics
• Shenzhen DOME Technology Co. Ltd
• COBAN Technologies
• Digital Ally Inc.
• Shenzhen Relee Electronics & Technology Co, Ltd
• WatchGuard Video
• VACRON
• Zeitronix
• Garmin Ltd
• Pittasoft(BlackVue) Inc
• Omnitracs
• Safety Vision LLC
• Continental AG
• Harman International Industries Inc 

This report segments the event data recorders market as follows:

By Application Segment Analysis

• Automobile OEM
• Automobile Aftermarket

By 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

Key Pointers Addressed by the Report

• Historical data and forecast analysis of the event data recorders market.
• Drivers, Restraints, and Opportunities of the Market.
• Exhaustive analysis of future market trends.
• Comprehensive information about the leading market segments and regions.
• Potential opportunities for players in the global market.
• Business strategies by the major players adopted in the international market.
• Strategic developments made by the competitive players and in-depth analysis about its impact on market growth.
• Porter’s Five Forces Analysis for the market around the globe.