Demand for Video Event Data Recorder Market is likely to grow at a CAGR of 7% through 2032
Future Market Insights analyses the global video event data recorder market for a 5-year forecast period, 2016-2026. According to a recent market outlook report, “Video Event Data Recorder (VEDR) Market: Global Industry Analysis & Opportunity Assessment, 2016-2026,” the US$ 1.64 Bn market is likely to reach beyond US$ 3.2 Bn by the end of 2026.
The global video event data recorder (VEDR) market was valued at nearly US$ 1,500 Mn in 2015 and is projected to reach approximately US$ 3,500 Mn by 2026. Sales revenue is expected to increase at a CAGR of 6.9% during the assessment period (2016–2026).
This growth is attributed to rising awareness and adoption of vehicle safety technologies, government regulations and motor vehicle safety standards and benefits such as detailed data capture capabilities offered by VEDR devices.
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In the global VEDR market report, Future Market Insights provides detailed information on market definition and segmentation analysis, market dynamics and key insights, and competition assessment and key company profiles.
The overall market outlook remains positive and the compound annual growth rate is estimated at 6.9% over the decade. Although market growth will be healthy by 2021 end, it will experience a slight decline in terms of CAGR in the second half of the assessed period.
Key research findings:
Motor vehicle safety standards will continue to fuel the sales of technologies pertaining to vehicle safety In addition to growing cognisance and adoption of vehicle safety measures, burgeoning automotive investments are also anticipated to favour VEDR market growth Growing inclination of OEMs and drivers toward digitisation will push the market further With technological advancements, various cost-effective products are being developed.
Several manufacturers are also emphasising integration of smart software An increasing number of VEDR manufacturers are strategically investing in order to capitalise on opportunities offered by commercial fleets such as cabs/rental fleets/taxis globally
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 various segments across key regions assessed Year-on-Year (YoY) growth rate for the different segments growth to understand the predictability of the market and to identify the right opportunities across the global video event data recorder market Basis Point Share (BPS) analysis to understand individual segments’ relative contribution to market growth and hence identify the key trends governing the global video event data recorder market Absolute dollar opportunity analysis of all key market segments to assess the level of opportunity that providers can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global video event data recorder market
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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
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East and Africa (MEA)