Over the forecast period of 2022 to 2032, the driver monitoring system market demand is expected to grow at a CAGR of 7.5% to reach a valuation of US$ 8,770.9 Million by 2032.
A Driver Monitoring System (DMS) is an advanced safety technology designed to help prevent accidents by monitoring the driver’s behavior and alerting them if they become distracted or fatigued. DMS uses sensors and cameras to monitor the driver’s eyes, head, and body movements, as well as their level of alertness, and can alert the driver with visual and audible warnings if it detects signs of drowsiness or distraction.
One of the main drivers of growth in the DMS market is the increasing focus on road safety. According to the World Health Organization, approximately 1.35 million people die each year as a result of road accidents, with many of these accidents caused by driver error. DMS can help to reduce the risk of accidents by detecting signs of driver fatigue or distraction and alerting the driver before an accident occurs.
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Another factor driving the growth of the DMS market is the increasing adoption of advanced driver assistance systems (ADAS) in vehicles. Many ADAS systems, such as adaptive cruise control and lane departure warning systems, rely on DMS to monitor the driver’s behavior and provide alerts or assistance as needed.
In addition, the increasing demand for autonomous vehicles is expected to drive growth in the DMS market. As autonomous vehicles become more prevalent, it will be important to ensure that the human driver can quickly take control of the vehicle if needed. DMS can help to ensure that the driver is alert and ready to take over control if necessary.
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.
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Driver Monitoring System Market Competitive Landscape
Continental AG, ZF Friedrichshafen AG, Mobileye, Aptiv Plc, Veoneer Inc., Valeo SA, Magna International, Aisin Seiki Co., Ltd, Texas Instruments Incorporated, NXP Semiconductors N.V, Renesas Electronics Corporation, Intel Corporation, Hitachi, Ltd.
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
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Driver monitoring system Market by Vehicle Type:
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Driver monitoring system Market by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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