In terms of revenue, the passenger car segment is expected to grow at an 8.6% CAGR during the forecast period. This is due to the increasing use of VEDR solutions in passenger vehicles as a valuable research tool and for recording impact speeds. The global Video Event Data Recorder Market solutions is highly fragmented and intensely competitive, and manufacturers of VEDR solutions are offering various incentives to private sector stakeholders - primarily auto OEMs and insurance companies - to deploy these solutions in order to maintain their market position. Currently, video event data recorders are used more frequently in light and heavy commercial vehicles owned by law enforcement agencies (including military and defence). However, demand for video event data recorders is also expected to increase from the passenger cars segment. This rising demand is attributed to various factors such as transparent insurance procedures and improved monitoring of public transport and fleet operations.
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