Press release

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

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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 (E ...

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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Market Segmentation

Geographical Segmentation

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Market Drivers

Market Challenges

Market Trends

Vendor Landscape

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

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