Rockville, MD -- (SBWIRE) -- 06/27/2018 -- A new report available with Fact.MR about the global accident recorders market delivers a comprehensive analysis that can assist industry players engaged in accident recorder manufacturing or are intended to initiate the business. The in-depth analysis includes all important factors that hold significant influence on the market growth throughout the forecast period of 2018 – 2027.
CDC states that every day approximately 9 death and 1000 injuries occur due to crashes in the United States. This statics are solely reported for the cases of distracted driving. Owing to increased incidences of distracted driving across the globe, the automotive industry is actively involved in the installation of safety and precautionary measures in the vehicles. As accident recorders save accurate information before, during and after the crash, it delivers a significant source of data for regulatory authorities and vehicle owners to precisely determine the cause of any crash. The fleet industry is another important end-user of the accident recorders. In addition, regulation on mandatory installation of accident recorders in race cars and incidences of self-driving car crashes are likely to boost adoption of accident recorders in the future.
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Fleet Industry Leads Installation of Accident Recorders
Increased trading activities, e-commerce expansion, and growth of warehousing industry have spurred the growth of fleet industry. Due to this, the fleet management market presents huge opportunities in term of revenue generation in future. Several companies that are dependent on the fleet industry are facing rising costs of automobile insurance. Further, if a driver is engaged in a crash, stringent legislation and rising awareness of corporate liability can add to company cost. There are several fleet management providers that deliver services to install advanced and affordable accident recorders in fleet vehicles. This enables companies to significantly reduce claim costs of any uneventful crash.
Incidences of Self-Driving Car Crashes to Boost Adoption
Although they represent the epitome of automation in the automotive industry, self-driving cars carry predictable risks of encountering an uneventful crash. For instance, recently an Uber Self-driving car was engaged in a crash which led to death of a pedestrian in Arizona. A dash cam footage recovered from the accident recorder dash cam installed in the SUV delivered important insights on the car crash incident. Such self-driving car crashes have intensified the regulations regarding autonomous car testing. This has increased concerns among manufacturers of both autonomous and non-autonomous cars and is likely to increased adoption of accident recorders in future.
Increased Installation in Race Cars Fuelling Market Demand
The FIA World Motor Sport Council announced mandatory installation of accident data recorders (ADR) in all cars that will be used in its national FIA Formula 4 Championships around the world. In addition, ADRs have been installed in cars of the FIA GT championships, as well as Germany's popular DTM series and the FIA Formula 3 European Championship. As ADRs have remained helpful to FIA in analyzing crash incidences in past, FIA continues to leverage benefits of affordable ADRs that deliver adequate data on crash incidents. Due to these regulatory changes, cost-efficient and custom accident recorder solutions for race cars are provided by manufacturers.
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Global Accident Recorder Market: Product Innovations
Fleet Complete VisionTM is a new real-time video analytics solution launched by Fleet Complete. A combination of mobile video technology and telematics data enhances fleet safety and driver risk management. The product is considered as a complete solution designed to improve operational safety and accident management for fleet owners across several industries.
ScottishPower is an energy company. In its vehicle replacement scheme, the company has plans to install Trakm8's RoadHawk DC-2 forward facing camera in its new fleets. The new camera delivers video recording with 1080p resolution, gyro-balanced image stabilization, and a high-quality sensor. In addition, RoadHawk DC-2 has inbuilt G-sensor that enables automatic image saving in a separate folder during the detection of sudden jolt or impact. Further, the camera delivers result in bright as well as low light scenario.
Global Accident Recorder Market: Key players
Key market players of the global accident recorders market include Delphi, Continental, Blackbox Guard, BlackVue, Garmin, Papago, Spy Tec, Thinkware, WickedHD, Valeo, Clarion, Eken, RoadHawk, Transcend, and Old Shark & KDLINKS.
The report on the global accident recorders market delivers a thorough analysis of above-stated factors that hold prominent influence on the market growth. By delivering the most credible go-to forecast of the market, Fact.MR report can assist financial community in making business decisions.