Driver Monitoring Systems Market To Reach $4.6 Billion By 2031: Allied Market Research

Allied market research

The factors driving the growth of the global driver monitoring systems market are the high demand for safety features and stringent safety rules and regulations. Technological advances and mandatory regulations regarding driver monitoring systems to be installed in vehicles are expected to offer prolific growth opportunities for the market. Regionally, the European market would maintain its dominance in terms of revenue during the forecast period.

Portland, OR, Nov. 25, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the global market driver monitoring systems market generated $1.8 billion in 2021 and is estimated to reach $4.6 billion by 2031, registering a CAGR of 10.2% from 2022 to 2031. The report offers a detailed analysis of the changing market trends, key segments, key investment pockets, value chains, regional landscape, and competitive landscape. The report is a useful source of information for key market players, new entrants, investors and stakeholders as they strategize for the future and take steps to strengthen their position in the market.

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Driver monitoring system industry Report coverage and details:

Report coverage

Details

Forecast period

2022–2031

Reference year

2021

Market size in 2021

$1.8 billion

Market size in 2031

$4.6 billion

CAGR

10.2%

no. o Pages in the report

342

Segments covered

Vehicle type, tracking type, vehicle propulsion, component, sales channel and region

Drivers

High demand for safety features and stringent safety rules and regulations.

Increased demand for light commercial vehicles mainly for freight transport.

Chance

Technological advances and mandatory regulations towards driver monitoring systems to be installed in vehicles.

Restrictions

High initial cost and complex structure.

Covid-19 Scenario:

  • The COVID-19 outbreak has negatively impacted the driving monitoring system due to commuter restrictions.

  • The sale of driver monitoring systems is directly related to the manufacturing and sales of motor vehicles. Global auto production declined 16% in 2020 compared to auto production in 2019. Global auto sales declined approximately 14% (year-over-year) from 90.42 million units in 2019 to 77, 97 million units in 2020. This in turn, the driving monitoring system has negatively impacted the market.

  • Though the automotive market struggled during the pandemic period, the driver monitoring systems market has huge room for growth in the future due to the high demand for integration of driver monitoring systems into commercial vehicles, technological advancement in driver monitoring systems and the high demand for safety features in consumer cars.

The report offers detailed segmentation of the global Driver Monitoring Systems market based on vehicle type, monitoring type, vehicle propulsion, component, sales channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors and new entrants determine which sub-segments to exploit to achieve growth in the coming years.

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Based on vehicle type, the passenger car segment held the largest share in 2021, accounting for more than three-quarters of the global driver monitoring systems market share, and will dominate the roost through 2031. However, it is estimated that the heavy commercial vehicle segment witness the fastest CAGR of 13.1% during the forecast period. The report also analyzes segments such as light commercial vehicles.

Based on monitoring type, the driver health monitoring segment held the largest share in 2021, accounting for nearly four-fifths of the global driver monitoring systems market, and will dominate the roost through 2031. However, it is estimated that the driver health monitoring segment witness the fastest CAGR of 12.4% during the forecast period. The report also analyzes segments such as personal and others.

Based on vehicle propulsion, the ICE vehicle segment held the largest share in 2021, accounting for more than 90% of the global driver monitoring systems market and would lead during the forecast period. However, the EV segment is estimated to witness the fastest CAGR of 16.8% during the forecast period.

On a components basis, the sensors segment held the largest share in 2021, accounting for three-fifths of the global driver monitoring systems market, and would maintain its leadership during the forecast period. The same segment is estimated to witness the fastest CAGR of 10.8% during the forecast period. The report also includes cameras and other segments.

Based on the sales channel, the OEM segment held the largest share in 2021, accounting for more than 90% of the global Driver Monitoring Systems market and would maintain its leadership during the forecast period. The same segment is estimated to witness the fastest CAGR of 10.3% during the forecast period. The report also analyzes the aftermarket segment.

On a regional basis, the market in Europe was the largest in 2021, accounting for two-fifths of the global driver monitoring systems market share and is likely to maintain its leadership status over the forecast period. However, the market in the Asia-Pacific region is projected to exhibit the highest CAGR of 11.5% from 2022 to 2031. The other regions analyzed in the study include North America and LAMEA.

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Major players of global driver monitoring systems market analyzed in the research include Aisin Corporation, Autoliv, Inc., Continental AG, Denso Corporation, Intel Corporation, Magna International, Inc., NXP Semiconductors, Panasonic Corporation, Robert Bosch GmbH, Texas Instruments, Inc., Valeo and ZF Friedrichshafen AG.

Similar reports we have on the automotive industry:

Size of the ADAS market To reach $189,142.9 million, at 21.4% CAGR during 2022-2026

Driver Alert Warning System Market Research Report 2022-2030

Vehicle health monitoring market Research Report 2022-2030

Integrated Vehicle Health Management Market Research Report 2022-2030

Who we are

Allied Market Research (AMR) is a full service market research and business consultancy from Allied Analytics LLP based in Portland, Oregon. Allied Market Research offers global enterprises and medium and small businesses an unmatched quality of “Market research reportsand “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and advice to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.

We have professional business relationships with various companies and this helps us to dig market data which helps us generate accurate research data tables and confirms utmost accuracy in our market forecasts. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high data quality and help clients in any way possible to achieve success. Every single piece of data presented in the reports we publish is extracted through primary interviews with senior officials of the major domain companies concerned. Our secondary data sourcing methodology includes extensive online and offline research and discussions with experienced professionals and industry analysts.

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