Overview and Scope
Driver monitoring system is a safety device that employs technology to determine whether the person operating the vehicle is alert and focused. This technology makes driving safer for everyone on the road by decreasing driver distraction and boosting focus on the road.
Sizing and Forecast
The driver monitoring systems market size has grown rapidly in recent years. It will grow from $1.59 billion in 2023 to $1.75 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to growing vehicle safety regulations, rising concerns about road safety, innovations in ai and machine learning, integration with advanced driver assistance systems (adas), automotive industry evolution, corporate initiatives for fleet safety.
The driver monitoring systems market size is expected to see strong growth in the next few years. It will grow to $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to insurance industry collaboration, liability mitigation for oems, rise in demand for in-cabin monitoring, personalized safety features, expansion in automotive fleet management. Major trends in the forecast period include ai-powered predictive analysis, privacy-focused design, in-car camera systems, health monitoring capabilities, real-time driver feedback and alerts, biometric authentication integration.
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Segmentation & Regional Insights
The driver monitoring systems market covered in this report is segmented –
1) By Component: Interior Camera, Sensors, Other Components
2) By Monitoring Type: Driver Alertness/Distraction Monitoring, Driver Fatigue Monitoring, Drunk Driving Monitoring, Identity Recognition
3) By Vehicle Type: Passenger Vehicles, Commercial Vehicles
Asia-Pacific was the largest region in the driver monitoring systems market in 2023. North America was the second largest region in the global driver monitoring systems market share. The regions covered in the driver monitoring systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
An increase in road safety awareness due to the rise in several on-road accidents caused by drivers due to fatigue and distraction is the major driver for the driver monitoring systems (DMS) market. According to a publication by the World Health Organization (WHO) in 2022, approximately 1.3 million people lose their lives each year due to road traffic crashes. Vulnerable road users, including pedestrians, cyclists, and motorcyclists, account for over 50% of all road traffic fatalities. Approximately 93% of global road fatalities occur in low- and middle-income nations. Road traffic accidents impose an economic burden, costing most nations approximately 3% of their gross domestic product. The DMS is gaining more importance due to the growing need for understanding and adjusting to the driving conditions and the reduction in the number of accidents. The rise in road accidents due to fatigue, distraction, and lack of alertness in the driver, coupled with drinking and driving, helps the driver monitoring systems market witness notable growth.
Key Industry Players
Major companies operating in the driver monitoring systems market report are Ford Motor Co., Robert Bosch GmbH, Hitachi Ltd., Panasonic Corporation, ZF Friedrichshafen AG, Continental AG, Magna International, Aisin Seiki Corporation Limited, Jabil Inc., Magneti Marelli S.p.A, Faurecia SE, NVIDIA Corporation, Johnson Controls Inc., Valeo SA, Texas Instruments Inc., Aptiv plc, Delphi Automotive plc, Intel Corporation, Renesas Electronics Corporation, DENSO Corporation, Autoliv Inc., Visteon Corporation, Takata Corporation, Veoneer Inc., Netradyne Technology India Pvt. Ltd., Mobileye N.V, Tata Elxsi Ltd., Plessey Semiconductors Ltd., Seeing Machines, Stonkam Co. Ltd., Trident Systems Inc., Cipia Vision Ltd., Jungo Connectivity Ltd., Fastree3D, UES Inc.
The driver monitoring systems market report table of contents includes:
1. Executive Summary
2. Driver Monitoring Systems Market Characteristics
3. Driver Monitoring Systems Market Trends And Strategies
4. Driver Monitoring Systems Market – Macro Economic Scenario
5. Global Driver Monitoring Systems Market Size and Growth
…..
32. Global Driver Monitoring Systems Market Competitive Benchmarking
33. Global Driver Monitoring Systems Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Driver Monitoring Systems Market
35. Driver Monitoring Systems Market Future Outlook and Potential Analysis
36. Appendix
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