Driver Monitoring Systems Market to Reach $4.6 Billion by 2031: Allied Market Research

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

Portland, OR, Nov. 25, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the Driver Monitoring Systems Market generated $1.8 billion in 2021 and is expected to reach $4.6 billion by 2031, growing at a CAGR of 10.2% from 2022 to 2031. The report offers a detailed analysis of the changing trends in the market, major segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a useful source of information for major market players, new entrants, investors and stakeholders in developing strategies for the future and taking action to strengthen their position in the market.

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Driver Monitoring System Industry Report coverage and details:

Covid-19 scenario:

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

• The sale of driver monitoring systems is directly related to automotive production and sales activities. Global auto production was down 16% in 2020 compared to auto production in 2019. Global auto sales were down around 14% (year-on-year) from 90.42 million units in 2019 to 77.97 million units in 2020. This in turn, has negatively impacted the market for driving monitoring systems.

• Although the automotive market has faced difficulties during the pandemic period, the driver monitoring system market has huge scope for growth in the future due to the high demand for driver monitoring system integration in the commercial vehicles, technological advances in driver monitoring systems and the strong demand for safety devices. in end consumer automobiles.

The story continues

The report offers a detailed segmentation of the global driver monitoring systems market on the basis of vehicle type, monitoring type, vehicle propulsion, component, sales channel and region. The report provides an analysis of each segment and sub-segment using tables and figures. This analysis helps market players, investors, and new entrants determine which sub-segments should be leveraged 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 would reign till 2031. However, the segment heavy-duty vehicles is expected to witness the fastest CAGR of 13.1% during the forecast period. The report also analyzes segments such as light commercial vehicles.

Based on the type of monitoring, the driver condition monitoring segment held the largest share in 2021, accounting for almost four-fifths of the global driver monitoring systems market, and would rule till 2031. However , the driver health monitoring segment is estimated to witness the fastest CAGR of 12.4% during the forecast period. The report also analyzes segments such as personal and other.

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

On the basis of components, the sensor segment held the largest share in 2021, accounting for three-fifths of the global driver monitoring systems market, and will 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 sales channel, OEM segment held the largest share in 2021, accounting for more than 90% of the global driver monitoring system market, and will 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 secondary market segment.

Based on the region, the market in Europe was largest in 2021, accounting for two-fifths of the global driver monitoring systems market share, and is expected to maintain its leading status during the forecast period. However, the Asia-Pacific region market is expected to show the highest CAGR of 11.5% from 2022 to 2031. Other regions analyzed in the study include North America and LAMEA.

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Key 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.

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