Event Data Recorder Market Size, Share, Growth, And Industry Analysis, By Type (Portable Event Data Recorder & Integrated Event Data Recorder), By Application (Automobile Manufacture Industry & Automobile Aftermarket Industry) Regional Insights and Forecast to 2031

Updated On: 22 April 2024

Event Data Recorder Market Report Overview

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The global event data recorder market size was valued at USD 7794.2 million in 2019. As per our research, the market is expected to reach USD 25748.09 million by 2031, exhibiting a CAGR expansion of 10.4% during the forecast period. 

An Event Data Recorder (EDR), commonly known as a "black box," is a device installed in some vehicles to record information related to vehicle crashes or accidents. EDRs were originally developed for airbags, but their functionality has expanded to capture various data points associated with a vehicle's performance in the moments leading up to a collision. It's important to note that EDRs are not the same as the flight data recorders used in airplanes.

The market for Event Data Recorders (EDRs) is experiencing growth, driven by increasing concerns for road safety, regulatory mandates, and advancements in vehicle technology. With a heightened focus on improving road safety and reducing accidents, the demand for technologies that can provide insights into the causes of accidents has increased.

COVID-19 Impact: Market Faced a Fall in Demand Due to Disruption in Automotive Production During the Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the Event Data Recorder market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. The automotive industry, including the production of vehicles equipped with EDRs, experienced disruptions due to factory closures, supply chain issues, and reduced consumer demand during lockdowns.

Latest Trends

"Integration with Advanced Driver Assistance Systems (ADAS) to Bring Efficiency in the Market"

The Event Data Recorder market is as dynamic as any other market. EDRs were increasingly being integrated with ADAS technologies, providing a more comprehensive understanding of vehicle behavior and driver actions. This integration enhances safety features and accident prevention capabilities.

Event Data Recorder Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into portable event data recorder & integrated event data recorder.

 In terms of services, portable event data recorder is the largest segment. Portable EDRs could be designed for specific use cases, such as analyzing the performance of rental cars, monitoring the driving behavior of a specific individual, or conducting research on vehicle dynamics.

• By Application Analysis

Based on application, the market can be divided into automobile manufacture industry and automobile aftermarket industry.

 In terms of services, the automobile manufacture industry is the largest segment. Event Data Recorders (EDRs) play a crucial role in the automobile manufacturing industry, primarily in the areas of vehicle safety, performance analysis, and regulatory compliance. 

Driving Factors

"The Emphasis on Vehicle Safety has Increased Demand in the Market"

The increasing emphasis on improving vehicle safety has driven the demand for technologies that can provide insights into the factors leading to accidents. EDRs play a crucial role in understanding and analyzing the events surrounding a vehicle crash. EDRs are instrumental in providing critical data for accident investigation and analysis. By recording information such as vehicle speed, brake status, and other parameters during an accident, EDRs help reconstruct the events leading up to the incident. This data is invaluable for understanding the causes of accidents and implementing safety improvements.

"Technological Advancements have Influenced the Demand in the Market"

Ongoing advancements in EDR technology, including improvements in sensors, data accuracy, and analysis capabilities, contribute to the market's growth. Manufacturers are continually innovating to enhance the functionality and reliability of EDRs. Advancements in sensor technologies, such as accelerometers, gyroscopes, and GPS, contribute to increased data accuracy. Improved sensors enhance the EDR's ability to capture detailed information about a vehicle's dynamics, speed, and orientation during and leading up to an event. In this way this factor resulted in Event Data Recorder market growth.

Restraining Factors

"Privacy Concerns leads to a Declining Trend in the Market "

The widespread adoption of EDRs has raised privacy concerns, as these devices record detailed information about a vehicle's performance and the driver's behavior. Striking a balance between safety benefits and addressing privacy concerns can be challenging, and regulatory frameworks may need to evolve to address these issues.  As a consequence, it can result in the decline of demand in the market.

Event Data Recorder Market Regional Insights

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"North America Region Dominates the Market owing to Focus on Vehicle Safety"

North America has the largest Event Data Recorder market share as it North America places a strong emphasis on vehicle safety, and EDRs are considered essential tools for enhancing safety features, conducting accident investigations, and improving overall road safety. The commitment to reducing road accidents and improving vehicle safety has driven the demand for EDR technology. Insurance companies in North America often play a role in promoting the use of EDRs. Insurers may offer incentives or discounts for vehicles equipped with EDRs, as the data recorded can facilitate quicker and more accurate claims processing, contributing to more efficient insurance practices. The legal system in North America often relies on evidence-based investigations in the event of accidents. EDR data provides objective information that can be crucial in determining liability and legal outcomes, contributing to its widespread adoption.

Key Industry Players

"Key Players Focus on Research & Development and Innovation For Market Expansion"

Key players in the Event Data Recorder (EDR) market are typically companies that manufacture, develop, and provide solutions related to EDR technology. These players contribute to the growth and innovation of the EDR market through various activities. Leading companies invest in research and development to enhance the capabilities of EDRs. This includes improving sensor technologies, data accuracy, and the integration of EDRs with other vehicle safety and communication systems. To stay competitive, key players focus on innovation to differentiate their products. This may involve introducing new features, improving data storage capacity, enhancing data accuracy, or exploring new applications for EDR technology. Leading EDR manufacturers often operate on a global scale, expanding their market presence in various regions. This involves understanding and addressing regional differences in regulations, consumer preferences, and technological standards.

List of Market Players Profile

• VDO(U.S.)
• Supepst(U.S.)
• Philips(Netherlands)
• HP(U.S.)
• Garmin(U.S.)

INDUSTRIAL DEVELOPMENT

December 2018: Using Ferroelectric Random Access Memory (FRAM) in Event Data Recorders (EDRs) can offer certain advantages due to the unique characteristics of FRAM technology. FRAM is a type of non-volatile memory that combines the benefits of both Flash memory and traditional Random Access Memory (RAM). 

Report Coverage

The report brings together extensive research on the qualitative and quantitative factors affecting the market. It gives an overall macro and micro view of the online reputation service industry. This research profiles a report with extensive studies on the online reputation management services market that describe the firms affecting the forecasting period. Detailed studies also offer a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others.

Furthermore, the post-COVID-19 pandemic’s effect on international market restrictions and a deep understanding of how the industry will recover and strategies are also stated in the report. Finally, the competitive landscape has also been examined in detail to provide clarification of the competitive landscape.