NEW YORK, Feb. 9, 2017 /PRNewswire/ -- Amid growing concerns over fake-traffic-accident frauds and car accidents, the Chinese driving recorder market continues to heat up and develops rapidly. An estimate shows that the driving recorder sales volume in China will reach about 14 million units in 2016 and 35 million units in 2020, which shows great potential for market growth.
With the change in users' spending habits and the explosive growth of telematics in past two years, driving recorder have seen significant changes both in functionality and form.
Functionally, driving recorders have begun to develop towards multifunctional all-in-ones that integrate on-board navigation, e-dog, speech recognition, reversing rearview, and ADAS, etc. At present, the players including Careland, Wokeshi, LNSU, and HUNYDON have released such multifunctional all-in-ones.
In terms of product type, smart rearview mirrors with the function of driving recording have become the mainstream. In 2015, the sales volume of smart rearview mirrors in China totaled 3 million units, accounting for 30% of driving recorders sales, and till 2020 occupying 60% as estimated.
At present, there are more than 30 driving recorder brand vendors, more than 1,000 OEM factories, and over 100 solution providers in China, and key brands include PAPAGO, BLACKVIEW, JADO, Anytek, Careland, First Scene, and Rexing, etc. In addition, the internet giants including Qihoo 360, LeEco, Xiaomi, Tencent, and Alibaba have also involved in driving recorder, which makes competition so fierce that the market is facing a reshuffle.
The Chinese driving recorders are mainly AM products. Driven by the market demand, the models such as BAIC Huansu H2, Cadillac CT6, BYD Qin/Tang, Skoda 2016 Spaceback, and Geely 2016 New Vision have been equipped with driving recorders (standard configuration). In future, a growing number of automakers will install driving recorders (standard configuration), which means that the market demand for OEM driving recorders in China will further expand.
The report highlights the following:
Definition and classification of driving recorders and development history of Chinese driving recorders;
Development of global and Chinese driving recorder industry, and development, sales channels, market structure, competitive landscape, and development trends of the Chinese market;
Chinese driving recorder market segments, including car driving recorder (CDR) equipped with display, non-display WIFI recorder, and smart rearview mirror;
Profile, operation, and driving recorder business of 6 main control chip makers and 23 driving recorder manufacturers.
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