Press Release Description
Rising Road Traffic Crashes Worldwide pushes Automotive Driver Monitoring System Market
The Global Automotive Driver Monitoring System Market is projected to grow at a CAGR of 12% in the forecast period of 2023-28 cites MarkNtel Advisors. The market growth is substantially driven by factors such as the advent of connected cars, technological improvements in the automotive industry, and advanced driver-assistance systems (ADAS). Driver monitoring systems (DMS) are quickly overtaking other vehicle safety systems as the most effective worldwide. Level 2 driving assistance systems, like Ford's BlueCruise, rapidly and significantly expand DMS usage in the United States.
Further, Digital Monitoring Systems are likely to take the lead among life-saving technologies placed in vehicles due to their ability to influence traffic crashes and reduce them to insignificant levels with real-time monitoring and alerts. Thus, the rising concern for road safety and stringent government regulations related to distracted and drunk driving are expected to foster market growth favorably. Moreover, with features like facial recognition, heart rate monitoring, blink monitoring, pre-collision system, and others, the DMS is likely to garner customers' attention, further states the research report, "Global Automotive Driver Monitoring System Market Analysis, 2023."
The Market is broadly fragmented based on Offering, Components, Monitoring type, Drive, and Vehicle. Based on Offering, the Market is segmented into Hardware and Software. Further, based on Vehicle, the market is segmented into Passenger Vehicles and Commercial Vehicles. Likewise, on the basis of drive, the market has IC engines, Electric vehicles, and Plug-in Hybrid Electric vehicles as sub-segments. Again, the market has components, including Image Sensors/Cameras, Pressure Mats, Infrared Sensors, Strain Gauges, Steering Angle Sensors, and Others. Lastly, based on Monitoring type, the Market is divided into Driver Alertness/Distraction Monitoring, Driver Fatigue Monitoring, Drunk Driving Monitoring, Identify Recognition, RFID Recognition, NFC Recognition, Fingerprint Recognition, and Others.
Passenger Vehicle Drives the Segment with The Highest Share Through 2028
Around 5% of all car accidents in the United States, according to research by the American Automobile Association (AAA), include drowsy drivers. According to a different NHTSA research, driver distraction causes more than 15% of injury crashes in the United States. Backed by these aspects, the demand for driver monitoring systems in the passenger vehicle segment is anticipated to increase over the projected period. Increasing government rules for driver safety and rising consumer desire for luxury and convenient amenities further support the segment's growth.
Asia –Pacific Striving to Become One of the Prominent Market Shareholder
According to WHO, 93% of the world's fatalities on the roads occur in low- and middle-income countries, which is likely to pave the way for new and effective life-saving techniques, including Driving Monitoring Systems. Further, the rising focus on research and development, paired with technological upgradation in automobiles, augments the demand for automated and premium features. Thus, the technological innovations in the countries like India, Japan, and China bolster the necessity of DMS in this region. Additionally, the sector experiences significant growth, particularly in China, which is emerging as the world's fastest-growing and leading producer of passenger vehicles due to consumer demand for cutting-edge safety features and admiration for high-end automobiles.
Faurecia SA, Ford Motor Co., Valeo SA, Delphi Automotive Plc, Robert Bosch Gmbh, Denso Corporation, Continental AG, Visteon Corporation, Nissan Motor Co., Jabil Inc. are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends that have shaped the industry to its current form?
- What key factors would propel and impede the Global Automotive Driver Monitoring System Market?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition shaped across various countries, followed by their comparative factorial indexing?
- How have buying behavior, customer inclination, and expectations from Automotive Driver Monitoring System manufacturers evolved during 2018-28?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
Place an order
100% Safe & Secure
Strongest encryption on the website to make your purchase safe and secure