Drivers and Trends Benefits Automotive Driver Monitoring System Market to Grow at 12.5% CAGR, projected to Reach USD 2.2 Billion in 2023

 

Market Insights

As per recent research by MarkNtel Advisors, The Global Automotive Driver Monitoring System Market size was valued at USD 2.2 Billion in 2023 and is projected to reach USD 5.6 Billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 12.5% during the forecast period, i.e., 2024-30.

Global Automotive Driver Monitoring System Market Driver:

Increasing Road Traffic Injuries Worldwide Influenced by Distracted or Drunk Driving - According to WHO, approximately 1.3 million people die yearly from road traffic crashes, costing most countries 3% of their GDP. Even though low- and middle-income nations have about 60% of the world's vehicles, they account for 93% of all traffic deaths. Given this, the UN General Assembly wants to cut in half the number of people killed and injured in traffic accidents worldwide by 2030. Backed by such ambitions and initiatives stemming from safety concerns, the need for systems that monitors Driver Alertness/Distraction, drunk driving, and Driver Fatigue, and recognition monitoring systems, including Identify, RFID, Fingerprint, and NFC Recognition, has gained traction in recent years.

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Market Segmentation and Consumer Behavior:

By Offering Type

• Hardware
• Software

By Components Type

• Image Sensors/Cameras
• Pressure Mats
• Infrared Sensors
• Strain Gauges
• Steering Angle Sensors
• Others

By Monitoring Type

• Driver Alertness/Distraction Monitoring
• Driver Fatigue Monitoring
• Drunk Driving Monitoring
• Identify Recognition
• RFID Recognition
• NFC Recognition
• Fingerprint Recognition
• Others

By Vehicle Type

• Passenger Vehicle
• Commercial Vehicle

By Drive Type

• IC Engine Vehicle
• Electric Vehicle
• Plug-in Hybrid Electric Vehicle

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Automotive Driver Monitoring System Market Geographical Analysis:

By Region:

• North America
• South America
• Europe
• Middle East
• Africa
• Asia-Pacific

Key Players and Competitive Strategies in the Automotive Driver Monitoring System Market

Several prominent players dominate the Automotive Driver Monitoring System Market, including:

• Faurecia SA
• Ford Motor Co.
• Valeo SA
• Delphi Automotive Plc
• Robert Bosch Gmbh
• Denso Corporation
• Continental AG
• Visteon Corporation
• Nissan Motor Co.
• Jabil Inc.

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Questions Addressed in this Study

1.What factors are driving the Automotive Driver Monitoring System Market growth?

2.How is the Automotive Driver Monitoring System Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Automotive Driver Monitoring System Market?

4.What is the current size of the Automotive Driver Monitoring System Market, and how is it projected to change in the future?

5.What is the future outlook for the Automotive Driver Monitoring System Market in terms of technological advancements and market expansion?

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