Global Automotive Event Data Recorder EDR Market Outlook Report 2019-2023: Market to Witness a CAGR of ~6% – ResearchAndMarkets.com

2019 AUG 13 (NewsRx) -- By a News Reporter-Staff News Editor at Technology Business Daily -- The “Global Automotive Event Data Recorder (EDR) Market 2019-2023” report has been added to ResearchAndMarkets.com’s offering. Insurance premium discounts for vehicles with EDRs The automotive insurance industry is evolving significantly in proportion to the global vehicle market. Automotive insurance providers are leveraging on technologies such as telematics installed in vehicles to track the driving behavior and calculate discounts. Several insurance providers in the US are offering discounts to their customers who have installed EDRs in their vehicles.

The insurance premium discounts offered by the insurance companies are encouraging vehicle owners to install EDRs in their vehicles. This is one of the key factors driving the growth of the global automotive event data recorder market size at a CAGR of nearly 6% during the forecast period. Growing popularity of dashboard cameras for event recording The adoption of dashboard cameras is helping fleet management companies to effectively track the movement of their vehicles and the driver’s behavior. The integration of connected technologies and cloud technologies with dashboard cameras will increase the demand for automotive dashboard cameras. This trend is expected to fuel the growth of the global automotive event data recorder market size. Market Dynamics The report looks at factors such as the rising number of road accidents across the world, insurance premium discounts for vehicles with EDRs, and favorable regulatory environment supporting EDR adoption.

However, high investments associated with the installation of EDRs and their supporting technologies, technological advancements in automotive safety features, and issues about data privacy may hamper the growth of the global automotive event data recorder market size. Segment Analysis The automotive event data recorder market analysis considers the application of EDR in passenger cars and commercial vehicles. The analysis also considers the use of EDR in APAC, Europe, MEA, North America, and South America.

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