Even though the global market for video event data recorders is still young, it is at a turning point. With new technologies including web conferencing, teleradiology, and video conferencing, it is possible for companies to capture and distribute data from a web conference. A video event data recorder may be used for training and instructional reasons among many other corporate applications. However, there are also many business applications for this technology that can be applied to customer relationship management. Video analytics can be applied to pre-event planning and execution, which includes both the planning and execution of events. For example, a transportation management company may utilize video event data recorder systems to pre-determine traffic jams in advance, identify the areas of congestion, and determine which routes are the most efficient for reducing traffic.
Market Dynamics:
Lucrative insurance policies and programs for vehicles is expected to propel the global video event data recorder market growth over the forecast period. Since the demand for connected cars has increased significantly, many organizations including insurance companies, auto OEMs, and services providers are focused on working together on the same platform. Numerous custom-made products and services are being introduced by insurance companies for consumers. Additionally, these value-added services are being offered in conjunction with vehicle OEMs by insurance companies, which will speed up the claims process. Such factors would encourage customers to deploy VEDRs to understand the details of an accident or any dispute.
Detailed data capture capabilities of VEDRs are expected to boost the global video event data recorder market growth over the forecast period. VEDRs can capture minute details of an event and hence they are preferred by public transport vehicles. Furthermore, VEDRs can record exterior as well as interior events along with every detail. Hence, such factors can further support the market growth.
Key features of the study:
Detailed Segmentation:
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*Browse 24 market data tables and 28 figures on “Global Video Event Data Recorder Market” - Global forecast to 2030
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