openPR Logo
Press release

Video Event Data Recorder Market - Transparent Insurance Procedures and Improved Monitoring of Public Transport and Fleet Operations to Fuel Demand for VEDR in the Passenger Cars Segment

11-06-2017 10:57 AM CET | IT, New Media & Software

Press release from: Future Market Insights

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.

Global Video Event Data Recorder Market Analysis and Forecast – By Vehicle Type

In terms of revenue, passenger cars segment is expected to register a relatively high CAGR of 8.6% during the forecast period. This is attributed to increasing adoption of VEDR solutions in passenger cars as a valuable research tool and to record impact speeds

The global market for VEDR solutions is highly fragmented and intensely competitive and to sustain their position in the market, manufacturers of VEDR solutions are offering various incentives to private sector stakeholders – primarily auto OEMs and insurance companies – to deploy these solutions

Download Sample Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-1735

In terms of revenue, light commercial vehicles is projected to be the most attractive segment in the global video event data recorder market during the forecast period

Passenger cars segment is expected to register high Y-o-Y growth rates throughout the forecast period and is anticipated to record a CAGR of 8.6% in the coming decade

Light commercial vehicles segment was valued at almost US$ 800 Mn in 2015 and is expected to remain dominant through 2026, accounting for a revenue share in excess of 45%

“Currently, adoption of video event data recorders is comparatively higher in light and heavy commercial vehicles owned by law and enforcement agencies (including military and defence). However, demand for video event data recorders is also expected to increase from the passenger cars segment. This rising demand is attributed to various factors such as transparent insurance procedures and improved monitoring of public transport and fleet operations.” - Analyst (Electronics and ICT), Future Market Insights

Global Video Event Data Recorder Market – Opportunities for Key Players

Innovative sales and marketing strategies

The global video event data recorder market is still in a nascent stage, but is witnessing a substantial growth. In order to leverage rising adoption of these products, companies could significantly invest in core sales and marketing functions. With Law & Enforcement Agencies (LEAs) being the largest application area for VEDRs, there is a potential revenue opportunity for manufacturers. Players active in the global video event data recorder market can build a large pipeline of potential revenue streams through strategic planning and increasing investments with LEAs

Cost-effective products and software revenues

Pricing and features are the two main factors shaping decision-making of law enforcement agencies. This is attributed to limited financial resources of most agencies. In order to penetrate and gain a significant footprint in this highly fragmented market, manufacturers could strategically invest in R&D initiatives to develop VEDR tools with advanced features in the low-medium ASP range. Additionally, integration of smart software could help drive margins up and flow through to the bottom line. Contingent upon proper implementation, these two efforts have the potential to drive revenues in the long term.

Browse Report@ https://www.futuremarketinsights.com/reports/video-event-data-recorder-vedr-market

Enhanced customer awareness

Like any other market in the development stage, the global video event data recorder market is also characterised by low customer awareness regarding VEDR tools and the associated benefits. Educating customers about the convenience and advantages of advanced vehicle safety devices can play a vital role in triggering growth in adoption of these devices. Auto OEMs can play a crucial role in creating customer awareness as they are in close proximity to car buyers. They can make sustained efforts to educate vehicle buyers about advanced safety systems such as VEDRs along with the inherent advantages so that provision of these devices becomes a default criteria influencing customer purchase decisions. This in turn offers potential revenue opportunities to auto OEMs. Additionally, auto OEMs can take the lead by providing devices such as VEDRs and related services free of cost until customers are adequately educated about the benefits, convenience and necessity of using these systems. This is likely to lead to increased growth in demand for vehicle safety devices in future.

About Us:-

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

Contact Us:-

3rd Floor, 207 Regent Street,
London W1B 3HH,
United Kingdom
T: + 44 (0) 20 7692 8790
D: +44 (0) 20 3287 4268
Email: sales@futuremarketinsights.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Video Event Data Recorder Market - Transparent Insurance Procedures and Improved Monitoring of Public Transport and Fleet Operations to Fuel Demand for VEDR in the Passenger Cars Segment here

News-ID: 802919 • Views: 260

More Releases from Future Market Insights

Hormone Replacement Therapy Market COVID-19 Impact and Global Analysis by Produc …
Hormone Replacement Therapy is any form of hormone therapy where in the patient, in course of medical treatment, receives hormones, either to supplement a lack of naturally occurring hormones, or to substitute other hormones for naturally occurring hormones. Menopause, is the time in most women's lives when menstrual periods stop permanently, and the woman is no longer able to have children. Menopause typically occurs between 45 and 55 years of age.
Critical Care Information Systems Market Key Players- Affiliated Computer Servic …
Critical care information systems are used to help manage the large amount of data generated in an intensive care unit every day. Obtaining, synchronizing, assimilating, and evaluating patient data is very difficult because of incompatibilities among monitoring equipment, the absence of standard data formatting and proprietary limitations from industry. The intensive care units are a specialized section of a hospital containing the equipment, medical and nursing staff, monitoring and life
Paper Cores Demand Catalyzes amid High Emphasis on Circular Economy: FMI Study
The global packaging industry has made remarkable progress in recent years, with numerous innovations and technological advances prioritized. Particular emphasis is placed on ensuring sustainability and the spread of the circular economy. Reliable benefits have been obtained in reducing the generation of municipal solid waste. Future Market Insights is a recently published research report that incorporates historical analysis from 2015 to 2019 and future assessments from 2020 to 2030 to
Endometrial Cancer Treatment Market Key Players- R-Pharm-US LLC., Bristol-Myers …
Endometrial cancer or uterine cancer is one of the most common gynecological cancers and 2.8% of women are diagnosed with the endometrial cancer at some point in their lives. According to National Cancer Institute statistics, in 2015 endometrial cancer contributed to 1.8% of all cancers and 3.6% of all new cancer cases were diagnosed as endometrial cancer. Early detection of endometrial cancer helps in the selection of proper treatment options.

All 5 Releases


More Releases for VEDR

Global Video Event Data Recorder Market: Transparent Insurance Procedures and Im …
A fresh report titled “Global Video Event Data Recorder Market: Transparent Insurance Procedures and Improved Monitoring of Public Transport and Fleet Operations to Fuel Demand for VEDR in the Passenger Cars Segment: Industry Analysis and Opportunity Assessment, 2017-2027” has been included to the wide collection of research reports managed by Market Research Reports Search Engine (MRRSE). The global video event data recorder (VEDR) market was valued at nearly US$ 1,500
Video Event Data Recorder (VEDR) Market Research Reports Offers Key Insights
Future Market Insights analyses the global video event data recorder market for a 10-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. In the global VEDR market report, Future Market Insights provides detailed information on market definition and
FMI Releases New Report on the Video Event Data Recorder (VEDR) Market 2016-2026
Event data recorders (EDR) are devices that record information related to an event such as vehicle crash. Video Event data recorders (VEDR) are upgraded versions of EDR devices, which are installed in an automobile to record and store video, audio and other detailed information related to road events and vehicles. Event data recorders are also known as Journey Data Recorder (JDR). Video event data recorder (VEDR) record data and analyses
Video Event Data Recorder (VEDR) Market Analysis and Value Forecast Snapshot by …
Event data recorders (EDR) are devices that record information related to an event such as vehicle crash. Video Event data recorders (VEDR) are upgraded versions of EDR devices, which are installed in an automobile to record and store video, audio and other detailed information related to road events and vehicles. Event data recorders are also known as Journey Data Recorder (JDR). Video event data recorder (VEDR) record data and analyses
Research report explores the Video Event Data Recorder (VEDR) Market for the for …
Event data recorders (EDR) are devices that record information related to an event such as vehicle crash. Video Event data recorders (VEDR) are upgraded versions of EDR devices, which are installed in an automobile to record and store video, audio and other detailed information related to road events and vehicles. Event data recorders are also known as Journey Data Recorder (JDR). Video event data recorder (VEDR) record data and analyses
Video Event Data Recorder (VEDR) Market Growth and Value Chain 2016-2026
Event data recorders (EDR) are devices that record information related to an event such as vehicle crash. Video Event data recorders (VEDR) are upgraded versions of EDR devices, which are installed in an automobile to record and store video, audio and other detailed information related to road events and vehicles. Event data recorders are also known as Journey Data Recorder (JDR). Video event data recorder (VEDR) record data and analyses