Accident Recorders Market is estimated to be XXX.X Billion by 2029 with a CAGR of XX.X% during the forecasted period.

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Published Date: July 2023

The Accident Recorders Market accounted for US$ 2.91 billion in 2022 and is estimated to be 6.0 billion by 2032 and is anticipated to register a CAGR of 7.5%. The report. "Global Accident Recorders Market, By Type (Single Channel and Dual Channel), By Application (Passenger Car (PC), Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.

Key highlights:

ScottishPower is an energy company. In its vehicle replacement structure, the company’s strategy is to install Trakm8’s RoadHawk DC-2 forward facing camera in its new fleets. The new camera offers video recording with 1080p resolution, high-quality sensor, and gyro-balanced image stabilization. Moreover, RoadHawk DC-2 has launched G-sensor that provides automatic image saving in a separate folder while the detection of sudden jolt or impact. Additionally, the camera offers result in low light as well as bright scenario.

Analyst View:

Increasing incidence of road accidents

According to CDC report, every day about 9 death and 1000 injuries occur due to crashes in the U.S. This statics is completely dependent on the cases of distracted driving. Due to growth in the incidences of distracted driving worldwide, the automotive industry is vigorously involved in the installation of precautionary and safety measures in the vehicles. Additionally, incidences of self-driving car crashes and regulation on mandatory installation of accident recorders in race cars are likely to propel adoption of accident recorders over the forecast period.

Fleet business drives installation of accident recorders

E-commerce expansion, growth in trading activities, and growth of warehousing industry have fueled the growth of fleet industry, owing to this the fleet management market represents wide opportunities in term of revenue generation in near future. Various companies that are reliant on the fleet industry are suffering from increased costs of automobile insurance. Moreover, if a driver is involved in a crash, stringent regulations and increasing awareness of corporate liability can add to company cost. There are various fleet management providers that provides services to install affordable and advanced accident recorders in fleet vehicles. This helps companies to considerably decrease claim costs of any uneventful crash.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Accident Recorders Market”, By Type (Single Channel and Dual Channel), By Application (Passenger Car (PC), Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

Key Market Insights from the report:

The global accident recorders market accounted for US$ 2.91 billion in 2022 and is estimated to be 6.0 billion by 2032 and is anticipated to register a CAGR of 7.5%. The market report has been segmented on the basis of type, application, and region.

By type, the dual channel segment is projected to register for moderately greater share in terms of revenue as compared to single channel segment.
By application, the heavy commercial vehicle (HCV) segment is projected to lead in the market with major revenue share, and is expected to continue its dominant position over the forecast period in the global accident records market.
By region, The North America market is projected to witness for major share in terms of revenue in the coming years, owing to number of vehicles on the road and increasing number of accidents, drink and drive cases, etc.

Competitive Landscape:

The prominent player operating in the global accident recorders market includes Continental, Blackbox Guard Inc., Delphi Technologies, BlackVue, Papago Inc., Spy Tec, Thinkware, WickedHD, Garmin International, Inc., and Valeo

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period