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. Among the vehicle types, revenue contribution from the passenger cars segment is anticipated to expand 2.2X during the forecast period. In terms of market value share, light commercial vehicles was the dominant segment, accounting for more than 50% share of the global video event data recorder market revenue in 2015.
Market Insights presents a comprehensive analysis of the global video event data recorder market in a new publication titled ‘Video Event Data Recorder Market: Global Industry Analysis and Opportunity Assessment, 2016–2026’. In this report, Market Insights has focussed on offering detailed insights and in-depth research on the global video event data recorder market over a 10 year forecast period 2016 – 2026.
In this report, we have covered the important factors driving the expansion of the global video event data recorder market; untapped opportunities for market players in this field; trends and developments shaping the dynamics of the global video event data recorder market; and other insights across various key segments. In addition, we have identified the key drivers and restraints affecting the development of the global video event data recorder market.
Changing trends are also analysed and incorporated in the report to equip clients with exhaustive information about the market resulting in better decision making. Macroeconomic factors that directly and indirectly affect the performance of the global video event data recorder market are also incorporated in the report.
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Methodology adopted while researching the global video event data recorder market
The forecast presented in our report assesses the total revenue by value across the global video event data recorder market. In order to offer an accurate forecast, we have started by sizing the current market, which forms the basis of how the global video event data recorder market will develop in the future. Given the volatile characteristics of the market, we have triangulated the outcome of different types of analyses, based on the technology trends.
Market Insights analysts have taken a structured research approach to arrive at a comprehensive revenue forecast of the global video event data recorder market. The research methodology adopted in this study is based on forecasts that focus on both global as well as regional trends in the economy, technology and population; along with company, product, country and demography specific trends. These trends are analysed thoroughly and underlying factors are also identified.
“We have considered factors such as economic, technological, institutional, behavioural and competitive factors, as well as other factors that may impact the performance of the global video event data recorder market.”
In the next step, we have built detailed forecasting models to quantify the impact of each of these factors on industry spending and created a forecast scenario for each causative factor to identify the contribution of each factor to overall market performance. In addition to annual spending figures, data such as country-wise vehicle production, country-wise vehicle sales, consumer spending, adoption rates of automotive telematics devices and services across regions, and revenue contribution of the top players is also taken into account. In order to accurately represent the impact of these figures on annual spending, annual averages are used rather than year end totals.
Figures are estimated in local currencies for each country and then converted to US dollars (US$) using the average 2016 exchange rate, which is held constant for each historical year and forecast year. This means the figures reflect industry trends, rather than being distorted by fluctuations in international exchange rates.
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