Driver monitoring system Market a will Register CAGR of 7.5% through 2032
NEWARK, Del, May 02, 2022 (GLOBE NEWSWIRE) -- Over the forecast period of 2022-2032, the driver monitoring system market is expected to grow at a CAGR of 7.5% to reach a valuation of US$ 8,770.9 Mn by 2032. The driver monitoring system market will gain from the surging demand implementation of stringent regulations mandate the use of advanced technology like driver monitoring system to prevent unforeseen road accidents. The fundamental technologies for this system are still lidar and camera sensors. As a result, in terms of technology type, infrared and camera sensors account for roughly 70 percent of the DMS marker.
An increase in road-safety awareness as a result of an increase in
various on-road incidents caused by the negligent or distracted driving is the
primary driver for the driver monitoring systems (DMS) market. According to a
report released by the World Health Organization (WHO) in 2020, road accidents
claim the lives of approximately 1.35 million people each year.
DMS are essential for Level 3 and 4 self-driving or autonomous vehicles,
which require drivers to re-engage and ready to control the vehicle at vital
points during the trip. Increase in Autonomous vehicle as well as regulation
governing them, is estimated to create lucrative opportunities for the market
in the forecast period.
Key Takeaways from Market Study
· By technology type, infrared sensor sales are expected to grow at a
CAGR of 7.6% in the global market.
· By vehicle type, the passenger vehicle segment will dominate the
market with more than 76% of the market share.
· By sales channel, the OEM segment will lead the Driver Monitoring
System Market and is anticipated to create an absolute dollar opportunity worth
US$ 4.4 Bn
· In terms of region, North America is predicted to exhibit a CAGR of
13.5%.
“Increasing implementation of stringent road safety regulation coupled
with growing awareness regarding importance of driver alertness while driving
will create the crux of opportunities in the market,” says a Future Market
Insights analyst.
Driver Monitoring System Market Competitive Landscape
Among the industry's key players are Continental AG, ZF Friedrichshafen
AG, Mobileye, Aptiv Plc, Veoneer Inc., Valeo SA, Magna International, Aisin
Seiki Co., Ltd and others
Manufacturers are strategically collaborating with technology partners
for long suplly relation and to intrigate a central control unit for different
ADAS technologies.
Summary:
The research report analyses the market demand trend for driver
monitoring system. The global market is based on COVID-19 impact, macroeconomic
factors, market trends & market background. As per Future Market Insights’
research scope, the driver monitoring system market
report is studied and analysed in the following segments such as by
technology type, sales channel, vehicle type & regions. The driver
monitoring system market report gives us qualitative and quantitative
information about the companies.
Key Segments Covered in Driver monitoring system Industry Analysis
Driver monitoring system Market by Technology:
- Ultrasonic Sensor
- Lidar Sensor
- Radar Sensor
- Camera Sensor
- Infrared Sensor
- Pressure Sensor
Driver monitoring system Market by Sales Channel:
- OEM
- Aftermarket
Driver monitoring system Market by Vehicle Type:
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product innovation & Diversification
4.3. Marketing and Brand management
4.4. Supply Chain Management
For more information:
https://www.futuremarketinsights.com/reports/driver-monitoring-system-market
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