Automotive Event Data Recorder Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The automotive event data recorder market share is expected to increase to USD 1.32 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.86%.

This automotive event data recorder (EDR) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive event data recorder market segmentation by application (passenger cars and commercial vehicles) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The automotive EDR market report also offers information on several market vendors, including Aptiv Plc, Cansonic Dash Cam, Continental AG, DENSO Corp., Digital Ally Inc., Garmin Ltd., Infineon Technologies AG, Octo Group S.p.A, PAPAGO Inc., Pittasoft Co. Ltd., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Squarell BV, Vacron, Veoneer Inc., and ZF Friedrichshafen AG among others.

What will the Automotive Event Data Recorder Market Size be During the Forecast Period?

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Automotive Event Data Recorder Market: Key Drivers, Trends, and Challenges

The rising number of road accidents across the world is notably driving the automotive event data recorder (EDR) market growth, although factors such as high investments needed to install EDRs and their supporting technologies may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive event data recorder industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Event Data Recorder Market Driver

• One of the key factors driving the global automotive event data recorder (EDR) industry growth is the rising number of road accidents across the world. 
• Factors such as minimal use of safety systems, reckless driving habits, unsafe road infrastructure, and unsafe vehicles are primarily contributing to road traffic accidents in low- and middle-income countries.
• The majority of the vehicles in developed regions such as the US have EDRs installed, which helps automotive regulators and automotive OEMs in these regions in accessing the fault level precisely.
• Technical errors and vulnerable pedestrians are the other major causes of traffic crashes. A large number of road accidents is encouraging commercial vehicle users to install EDRs through the aftermarket, if not available, as OEM-fitted devices in their vehicles.
• Russia witnesses high cases of road accidents and road rage due to poor road conditions, harsh winters, weak road safety, and law enforcement policies, which leads to unsafe driving practices, and a high number of road fatalities. This factor is leading to a faster adoption rate of camera-based EDRs such as dashboard cameras. 

Key Automotive Event Data Recorder Market Trend

• Insurance premium discounts for vehicles with EDRs is one of the key automotive event data recorder (EDR) market trends that is expected to impact the industry positively in the forecast period.  
• The global automotive insurance market is shifting from the conventional insurance model to the usage-based insurance model, wherein insurance premiums are calculated based on driving behavior.
• Aftermarket EDRs can continuously record critical information about vehicles. The recorded information can be used to monitor driving behavior and as evidence in case of accidents. Hence, vehicle insurance providers offer discounts on premiums (5%-10%) for vehicles that are installed with EDRs such as dashboard cameras.
• Progressive, a US-based insurance company, offers discounts on insurance premiums to drivers who have installed EDRs in their vehicles. Hence, the installation of EDRs in vehicles benefits drivers in terms of gaining discounts on insurance premiums. Thus, the automotive event data recorder market is expected to grow in the forecast years.

Key Automotive Event Data Recorder Market Challenge

• One of the key challenges to the global automotive event data recorder (EDR) industry growth is the high investments needed to install EDRs and their supporting technologies.
• In Europe, in 2015, the EU mandated the installation of the eCall technology in new cars from April 2018. In addition, the EU imposed a ban on telephone roaming charges across member states in 2014 to establish a favorable ecosystem for the interoperability of eCall systems across Europe.
• The installation cost of an eCall system is around $112. OEMs are still unsure if the installation cost is to be absorbed by them or to be passed to customers. As a result, they have started bundling offerings to absorb the cost of the installation of eCall systems.
• A few European nations such as the UK have voiced against eCall systems. This is because high investments need to be made in infrastructure for the implementation of these systems.
• The high cost is expected to pose a challenge to market growth during the forecast period.

This automotive event data recorder market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global automotive event data recorder market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive event data recorder market during the forecast period.

Who are the Major Automotive Event Data Recorder Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Aptiv Plc
• Cansonic Dash Cam
• Continental AG
• DENSO Corp.
• Digital Ally Inc.
• Garmin Ltd.
• Infineon Technologies AG
• Octo Group S.p.A
• PAPAGO Inc.
• Pittasoft Co. Ltd.
• Robert Bosch GmbH
• Samsung Electronics Co. Ltd.
• Squarell BV
• Vacron
• Veoneer Inc.
• ZF Friedrichshafen AG

 

This statistical study of the automotive event data recorder market encompasses successful business strategies deployed by the key vendors. The automotive event data recorder market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Aptiv Plc - The company offers automotive event data recorders such as EP-150, EP-250, EP-1000, and others.
• Continental AG - The company offers cardless ATM solutions such as Cardless Cash Withdrawal.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive event data recorder market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Event Data Recorder Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive event data recorder market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Automotive Event Data Recorder Market?

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36% of the market's growth will originate from North America during the forecast period. The US is the key market for automotive event data recorders in North America. Market growth in this region will be slower than the growth of the market in other regions.

The rising number of road crashes in the US and Canada will facilitate the automotive event data recorder market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The automotive industry in North America had shown resilience in the fourth quarter of 2020 and recovered from the economic downturn in Q1 of 2021. However, the sales of new vehicles in the US will not rebound to pre-COVID-19 levels until 2023. Several automobile vendors are adopting different strategies to overcome the challenges caused by the COVID-19 crisis. 

What are the Revenue-generating Application Segments in the Automotive Event Data Recorder Market?

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The automotive event data recorder market share growth by the passenger cars segment will be significant during the forecast period. The demand for EDRs to be installed in passenger cars stems from an aftermarket fitment requirement. Insurance companies are offering EDRs as a fitment to track driving behavior and price insurance premiums accordingly. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive event data recorder market size and actionable market insights on post COVID-19 impact on each segment.

 

Automotive Event Data Recorder Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.86%
Market growth 2022-2026	$ 1.32 billion
Market structure	Fragmented
YoY growth (%)	5.24
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 36%
Key consumer countries	US, China, Japan, South Korea, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Aptiv Plc, Cansonic Dash Cam, Continental AG, DENSO Corp., Digital Ally Inc., Garmin Ltd., Infineon Technologies AG, Octo Group S.p.A, PAPAGO Inc., Pittasoft Co. Ltd., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Squarell BV, Vacron, Veoneer Inc., and ZF Friedrichshafen AG
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Automotive Event Data Recorder Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive automotive event data recorder market growth during the next five years
• Precise estimation of the automotive event data recorder market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the automotive event data recorder industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of automotive event data recorder market vendors

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