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Market Snapshot

CAGR:7.9

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	7.9

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Report Overview

Video Event Data Recorder (VEDR) Market Analysis Report 2023-2032:

The Video Event Data Recorder (VEDR) Market is projected to experience a Compound Annual Growth Rate (CAGR) of 6.72% from 2022 to 2032. This market is forecasted to expand by USD 8,765.23 million during the same period. The growth of this market hinges on several factors, including increased concerns about road safety, rising demand for real-time vehicle monitoring and analysis, and regulatory mandates for the installation of VEDRs in commercial vehicles. A Video Event Data Recorder, commonly known as a dashcam, is a device that records video footage both inside and outside of vehicles. It serves as an essential tool for documenting and analyzing driving behavior, providing evidence in case of accidents, and enabling fleet managers to optimize operations.

Video Event Data Recorder Market Overview:

Drivers:

One of the primary drivers propelling the growth of the Video Event Data Recorder market is the heightened emphasis on road safety. With an increasing number of road accidents, both public and private sectors are focusing on adopting technologies that enhance safety and accountability. Video Event Data Recorders offer valuable insights into driver behavior, aiding in identifying risky driving patterns and contributing to accident prevention.

Moreover, the integration of VEDRs with real-time monitoring and analysis systems provides fleet operators and vehicle owners with the ability to track and manage their assets effectively. This feature is particularly crucial for commercial fleets, where optimizing routes and monitoring driver performance can lead to significant cost savings and improved safety.

Trends:

The integration of Artificial Intelligence (AI) in Video Event Data Recorders is a significant trend shaping the market's growth trajectory. AI-powered VEDRs can analyze video footage in real-time, identifying potential hazards, road signs, and traffic conditions. This intelligent analysis assists drivers in making informed decisions, enhancing overall road safety.

Furthermore, the increasing demand for connected vehicles and smart transportation systems is driving the adoption of VEDRs equipped with advanced sensors, GPS, and communication capabilities. These features enable VEDRs to contribute to broader smart city initiatives by providing real-time data for traffic management, accident investigation, and urban planning.

Restraints:

Data privacy concerns and legal considerations pose challenges to the growth of the Video Event Data Recorder market. Recording video and audio inside vehicles raises questions about individual privacy rights and data ownership. Striking a balance between enhancing road safety and respecting privacy rights is crucial for the widespread adoption of VEDRs.

Additionally, the installation and maintenance costs of Video Event Data Recorders, particularly for commercial fleets, can be a deterrent for adoption. Some operators might perceive these costs as an unnecessary investment, especially if they lack a comprehensive understanding of the long-term benefits.

Video Event Data Recorder Market Segmentation By Application:

The commercial fleet segment is expected to witness substantial growth during the forecast period. Fleet managers are increasingly recognizing the value of Video Event Data Recorders in improving driver behavior, reducing accidents, and optimizing operational efficiency. Video evidence from VEDRs can help exonerate drivers in case of false claims or accidents, leading to potential insurance cost savings.

Additionally, the demand for VEDRs is rising due to regulatory mandates in various regions. Governments are requiring commercial vehicles to be equipped with VEDRs to enhance road safety and hold drivers accountable for their actions.

Video Event Data Recorder Market Segmentation By Type:

The demand for Advanced Driver Assistance System (ADAS) integrated VEDRs is a driving factor for the growth of this segment. ADAS-enabled VEDRs combine video recording with features like lane departure warning, collision avoidance, and adaptive cruise control. This integration enhances driver safety by providing real-time alerts and interventions, reducing the risk of accidents.

Furthermore, the rising popularity of autonomous vehicles is expected to boost the adoption of VEDRs with AI-powered capabilities. These VEDRs can provide crucial data for autonomous vehicle development and validation, contributing to the advancement of self-driving technologies.

Regional Overview:

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North America is poised to be a significant contributor, accounting for 38% of the global Video Event Data Recorder market growth during the forecast period. The presence of prominent automotive technology companies, coupled with growing concerns about road safety, drives the demand for VEDRs in the region. Additionally, regulatory support and initiatives aimed at improving road safety will further bolster the adoption of VEDRs in North America.

In 2020, the COVID-19 pandemic caused a temporary downturn in the global Video Event Data Recorder market due to disruptions in manufacturing and supply chains. However, with the gradual resumption of economic activities and a renewed focus on road safety post-pandemic, the market is expected to recover and thrive during the forecast period.

Video Event Data Recorder Market Customer Landscape:

The Video Event Data Recorder market report encompasses an analysis of the customer adoption lifecycle, ranging from early adopters to laggards. It examines adoption rates across different regions based on penetration and offers insights into key purchase criteria and price sensitivity, aiding companies in formulating growth strategies.

Major Video Event Data Recorder Market Companies:

Market players are employing diverse strategies such as partnerships, mergers and acquisitions, product/service launches, and geographical expansion to consolidate their positions in the market.

BlackVue: The company offers VEDR products like BlackVue DR900X, BlackVue DR750X, and BlackVue DR590X, which are equipped with high-resolution cameras and cloud connectivity for real-time monitoring.
Garmin Ltd.: Garmin's VEDR offerings include products like Garmin Dash Cam 66W and Garmin Dash Cam Mini, which feature wide-angle lenses, voice control, and GPS tracking capabilities.
Lytx Inc.: Lytx provides VEDR solutions for commercial fleets, combining video recording with driver coaching and real-time feedback to improve driving behavior and safety.

The research report offers a comprehensive analysis of the competitive landscape, detailing information about various market players. Key companies in the Video Event Data Recorder market include:

APTA Corporation
Delphi Automotive PLC
Driver Safety Australia
L-3 Mobile-Vision Inc.
SmartDrive Systems Inc.
Transcend Information Inc.
Verizon Connect

Qualitative and quantitative assessments of these companies provide insights into their strengths, weaknesses, and market positioning. The analysis categorizes them based on factors like focus areas, dominance, and overall influence.

Segment Overview:

The Video Event Data Recorder market report provides revenue forecasts at the global, regional, and country levels, along with analyses of the latest trends and growth opportunities from 2019 to 2032.

Application Outlook (USD Million, 2019 - 2032):

Commercial Fleet
Law Enforcement Vehicles
Private Vehicles
Others

Type Outlook (USD Million, 2019 - 2032):

Basic VEDRs
Advanced Driver Assistance System (ADAS) Integrated VEDRs
AI-powered VEDRs
Others

Geography Outlook (USD Million, 2019 - 2032):

North America

The U.S.
Canada

Europe

U.K.
Germany
France
Rest of Europe

APAC

China
India

South America

Brazil
Argentina
Rest of South America

Middle East & Africa

Saudi Arabia
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL VIDEO EVENT DATA RECORDER MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. VIDEO EVENT DATA RECORDER MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Video Event Data Recorder Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. VIDEO EVENT DATA RECORDER MARKET BY Type of Data Storage INSIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2. Flash Card

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3. Cloud Data Storage

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. VIDEO EVENT DATA RECORDER MARKET BY End user INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. Law & Enforcement Agencies

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Commercial Fleet

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. VIDEO EVENT DATA RECORDER MARKET REGIONAL OUTLOOK

7.1. Video Event Data Recorder Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Video Event Data Recorder Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Video Event Data Recorder Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Video Event Data Recorder Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Video Event Data Recorder Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Video Event Data Recorder Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Video Event Data Recorder Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Video Event Data Recorder Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Video Event Data Recorder Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Video Event Data Recorder Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Video Event Data Recorder Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Video Event Data Recorder Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Video Event Data Recorder Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Video Event Data Recorder Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Video Event Data Recorder Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Video Event Data Recorder Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Video Event Data Recorder Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Video Event Data Recorder Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Video Event Data Recorder Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Video Event Data Recorder Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Video Event Data Recorder Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Video Event Data Recorder Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Video Event Data Recorder Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Video Event Data Recorder Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Video Event Data Recorder Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Video Event Data Recorder Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Video Event Data Recorder Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Video Event Data Recorder Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Video Event Data Recorder Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Video Event Data Recorder Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Video Event Data Recorder Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Video Event Data Recorder Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Video Event Data Recorder Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Video Event Data Recorder Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Video Event Data Recorder Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Video Event Data Recorder Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Video Event Data Recorder Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Video Event Data Recorder Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Video Event Data Recorder Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Video Event Data Recorder Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Video Event Data Recorder Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Video Event Data Recorder Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Video Event Data Recorder Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Video Event Data Recorder Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Video Event Data Recorder Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Video Event Data Recorder Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Video Event Data Recorder Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Video Event Data Recorder Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Video Event Data Recorder Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Video Event Data Recorder Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Video Event Data Recorder Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Video Event Data Recorder Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Video Event Data Recorder Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Video Event Data Recorder Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Video Event Data Recorder Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Video Event Data Recorder Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Video Event Data Recorder Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Video Event Data Recorder Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1. Digital Ally Inc

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2. L-3 Mobile-Vision

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3. Octo Telematics Ltd, (OCTOCAM Srl)

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4. WatchGuard Video

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5. COBAN Technologies, Inc

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6. Safety Vision

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7. LLC

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8. Omnitracs

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9. Convoy Technologies

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10. Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Video Event Data Recorder Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032