Global Industry Analysis Opportunity Assessment, 2016-2026," the US$ 1.64 billion market is anticipated to surpass US$ 3.2 billion by the end of 2026.For the 2016–2026 forecast period, Future Market Insights analyses the global market for video event data recorders. According to a recent industry forecast analysis, "Video Event Data Recorder (VEDR) Market:
According to estimates, the market for video event data recorders (VEDR) was valued more than US$ 1,500 million in 2015 and is expected to reach US$ 3,500 million by 2026. Sales revenue is projected to increase at a CAGR of 6.9 percent from 2016 to 2026, the assessment period. Along with benefits like the comprehensive data collection abilities offered by VEDR devices, government regulations and motor vehicle safety requirements are
Future Market Insights includes thorough information on market definition and segmentation analysis, market dynamics and key insights, competition evaluation and major company profiles in the worldwide VEDR market study.
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The market’s overall future is still promising, and over the next ten years, it is expected to increase at a compound annual growth rate of 6.9 percent. Even though the market will continue to develop steadily until the end of 2021, the CAGR will somewhat fall during the second half of the assessment period.
Key research findings:
The need for technology related to vehicle safety will be supported by motor vehicle safety regulations. Burgeoning automotive investments are also projected to favour VEDR market expansion in addition to increased awareness of and implementation of vehicle safety measures. The market will advance due to OEMs and drivers’ growing preference toward digitization.
Numerous low-cost items are being created as a result of technical breakthroughs. Additionally, a number of manufacturers stress the use of intelligent software More and more VEDR manufacturers are making strategic investments to take advantage of worldwide prospects provided by commercial fleets including taxis, rental fleets, and rental cars.
Market Segmentation
By Type of Data Storage
- Flash Card
- Cloud Data Storage
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles (LCVs)
- Heavy Commercial Vehicles (HCVs)
By End User
- Law Enforcement Agencies (LEAs)
- Commercial Fleet
By Sales Channel
- Auto OEM
- Aftermarket
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East and Africa (MEA)
- Japan
Key player insights:
The global market for video event data recorder is predominantly governed by the top five players in the competitive landscape. Digital Ally Inc., WatchGuard Video, Omnitracs LLC, Rosco Inc., and Safety Vision LLC collectively account for roughly 85% market revenues. A few other notable players include Convoy Technologies, OCTOCAM Srl, and L-3 Mobile-Vision, Inc.
Key metrics incorporated in the report
CAGR for the different sectors across important areas evaluated To grasp the industry’s predictability and find the best prospects throughout the worldwide video event data recorder market, look at the year-over-year (YoY) growth rate for the various segments.
Using Basis Point Share (BPS) analysis, the worldwide video event data recorder market’s important trends may be determined by understanding each segment’s relative contribution to market growth. In order to determine prospective resources for sales and delivery in the worldwide video event data recorder market, suppliers should do an absolute dollar opportunity analysis of all significant market segments.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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