VIDEO EVENT DATA RECORDER MARKET ANALYSIS

Video Event Data Recorder MarketSize and Trends

The global video event data recorder market was valued at US$ 2,527.5 million in 2022 and is expected to exhibit a CAGR of 6.5% over the forecast period (2023-2030).

An event data recorder or EDR uses a device installed in vehicles to record information related to vehicle accidents or crashes. A Video Event Data Recorder (VEDR) is an updated version of EDR, which adds video recording of the immediate surroundings of the vehicle. These devices store the video feed before/after the event of an accident. It also records the car speed, acceleration, and GPS information. Generally, VEDRs are installed on the windshield of cars with a special feature camera and a GPS unit attached to it. Different types of vehicles install VEDRs, including coaches and buses, commercial vehicles, emergency services vehicles, law and enforcement vehicles, and hazardous goods transport.

Global Video Event Data Recorder Market - Trends

Market Size

Intense competition

Due to the market's extreme fragmentation, there is significant market competition The global video event data recorder market is highly fragmented and has a presence of numerous established players and robust public companies. However, the arrival of new market entrants with novel products has created intense competition in the market. Moreover, consumer demand is highly uncertain along with inconsistency of sales cycle and consumer adoption. In spite of that, key manufacturers are constantly investing in the development of new technologies in order to gain competitive edge in the market.

Increasing investments in the automotive industry

Increasing investments in the automotive industry is another major trend in the market. Constant research and development activities in the industry have accelerated the industry growth in the recent past. This, in turn, is expected to accelerate the adoption of VEDRs in the near future.

Global Video Event Data Recorder Market - Trends

The global video event data recorder market is a segment of the broader video surveillance market, which includes various types of surveillance cameras, recorders, and related software and services. Video event data recorders are used in various applications such as residential complexes, commercial buildings, and public facilities to record and monitor video footage from event points such as doors and gates.

The regional dynamics of the global video event data recorder market may vary based on factors such as economic development, infrastructure investments, government regulations, and security concerns. However, some regions have traditionally been significant contributors to the global video surveillance market, and these trends may benefit the video event data recorder market as well.

Figure 1: Global Video Event Data Recorder Market Share (%), By Region, 2022

North America held a dominant position in the Global Video Event Data Recorder Market in 2020, accounting for 59.0% shares, followed by Europe and Asia Pacific.

Global Video Event Data Recorder Market - Segmentation

Global video event data recorder market report is segmented into data storage, vehicle type, end user, sales channel, and region.

• The law & enforcement agencies held a dominant position in the market and accounted for 76.5% share in the global video event data recorder market in 2022. The segment is expected to reach US$ 2,659.9 million in 2030 owing to the rising security concerns in the
• The light commercial vehicle segment accounted for 47.9% of the market share in 2022 in the global video event data recorder market and is expected to reach US$ 1,753.4 million by 2030. The development of the automotive industry, increasing industrial activities, and the development of the e-commerce industry accelerate the growth of the Global Video Event Data Recorder Market.