[2023-2030] Driver Monitoring System (DMS) Market Trend

The Driver Monitoring Systems Global Market Report 2023 by The Business Research Company, provides driver monitoring systems market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Driver Monitoring Systems Global Market Report 2023, the market size is expected to grow from$1.44 billion in 2022 to $1.59 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global driver monitoring systems is expected to grow to $2.34 billion in 2027 at a CAGR of 10.2%.

An increase in road-safety awareness due to the rise in several on-road accidents caused by the driver due to fatigue and distraction is the major driver for the driver monitoring systems (DMS) market.

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The driver monitoring systems market is segmented:

1) By Monitoring Type: Driver Alertness/Distraction Monitoring, Driver Fatigue Monitoring, Drunk Driving Monitoring, Identity Recognition

2)By Vehicle Type: Passenger Vehicles, Commercial Vehicles

3) By Component: Interior Camera, Sensors, Other Components

The global driver monitoring systems market is experiencing several technological advancements that are expected to boost the market in the forecast period. A rising trend is that prominent OEMs (Original Equipment Manufacturers) and MROs (Maintenance Repair and Overhaul) are developing advanced detection technologies for drivers of vehicles. For instance, Panasonic Corporation has developed a drowsiness-control technology to detect and predict the level of drowsiness of a person, enabling him/her to remain comfortably awake while driving. Similarly, Mercedes-Benz has developed an innovative attention-assistance device that can detect when drivers start to get drowsy and prompt them to stop before it’s too late. Attention Assist monitors the actions of the driver and creates an individual driver profile at the start of each trip, which is then continuously compared with current sensor data.

The driver monitoring systems market report table of contents includes: