Overview and Scope
Driver alert systems refer to advanced safety technologies that identify indicators of driver fatigue, distraction, or inattention and send real-time notifications to reduce the chance of an accident. These systems use sensors, cameras, and other monitoring equipment to analyze driver behavior and vehicle dynamics, which improves overall road safety.
Sizing and Forecast
The driver alert system market size has grown rapidly in recent years. It will grow from $7.05 billion in 2023 to $7.96 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to rise of automotive electronics, rising road traffic, demand for vehicle safety, awareness of distraction risks, emergence of telematics.
The driver alert system market size is expected to see rapid growth in the next few years. It will grow to $13.11 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to demand for real-time monitoring, growing concerns about driver distraction, rise in adoption of electric vehicles, increased focus on fleet safety, rising demand for personalized safety features. Major trends in the forecast period include technological advancements, adoption of AI, development of multi-sensor systems, data analytics for performance optimization, adoption of advanced sensors.
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Segmentation & Regional Insights
The driver alert system market covered in this report is segmented –
1) By Component : Sensors, Cameras
2) By Type: Audible Alarm, Steering and Seat Vibration Alerts
3) By Distribution: Aftermarket, OEMs
4) By Application: Passenger Car, Commercial Vehicle
North America was the largest region in the driver alert system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the driver alert system 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
The rising number of road accidents is expected to propel the growth of the driver alert system market going forward. Road accidents refer to any collision involving at least one moving vehicle on a public or private road that is accessible to the general public and that leaves at least one person hurt or dead. Road accidents are rising due to factors such as increased distracted driving, higher vehicle speeds, and inadequate infrastructure. Driver alert systems help reduce road accidents by transmitting real-time notifications to drivers, lessening the likelihood of accidents caused by driver fatigue, distraction, or inattention. For instance, in August 2022, according to the National Highway Traffic Safety Administration, a US-based government agency, 9,560 individuals died in traffic accidents in the first quarter of 2022, an increase of 7% compared to the 8,935 fatalities for the same period in 2021. Therefore, the growing number of road accidents is driving the growth of the driver alert system market.
Key Industry Players
Major companies operating in the driver alert system market are Ford Motor Company, Mercedes-Benz Group AG , Robert Bosch GmbH, Nissan Motor Co. Ltd., DENSO Corporation, ZF Friedrichshafen AG, Continental AG, Hyundai Mobis Co. Ltd., Magna International Inc., Faurecia SE, Johnson Controls Inc., Valeo SA, Nidec Corporation, Infineon Technologies AG, BorgWarner Inc., Magneti Marelli S.p.A. , HELLA GmbH & Co. KGaA, Garmin Ltd., Delphi Technology Inc, Visteon Corporation, VOXX International Corporation, Tata Elxsi Ltd., STONAKM Co. Ltd., Astro Optics Pvt Ltd., Dinalog Inc.
The driver alert system market report table of contents includes:
1. Executive Summary
2. Driver Alert System Market Characteristics
3. Driver Alert System Market Trends And Strategies
4. Driver Alert System Market – Macro Economic Scenario
5. Global Driver Alert System Market Size and Growth
…
32. Global Driver Alert System Market Competitive Benchmarking
33. Global Driver Alert System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Driver Alert System Market
35. Driver Alert System Market Future Outlook and Potential Analysis
36. Appendix
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