The driver monitoring system market is anticipated to expand its roots at a steady CAGR of 7.5% between 2023 and 2033. The market is expected to have a market share of US$ 9.3 Billion by 2033 while it is likely to be valued at US$ 4.5 billion in 2023
- The higher demand for self-driving automobiles including passenger and loading vehicles is pushing the vendors to adopt the driver monitoring system technologies. These technologies are deployed through high-end cameras, infrared, lasers, and advanced sensors.
- The advanced road structure and revised road safety policies according to the new electric and self-driving vehicles are expected to impact the market positively. Furthermore, advanced technologies like artificial intelligence and ADAS is also increasing the sales of driver monitoring systems.
- New startups with alarm systems and smartphone integration alert the drivers and their people back home with custom settings. Alongside this, the restoration of logistics and tourism activities post-COVID-19 contribute to the market growth.
- The higher number of accidents due to the lack of focus and drowsiness is making authorities take action. These actions involve the compulsion of DMS and other safety gears in the vehicle.
- The authority actions take us to the countries prioritizing road safety. For example, Europe NCAP has settled the roadmap in pursuit of vision zero and is expected to endure zero road accidents.
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Key Takeaways from the Driver Monitoring System Market Report:
- The United States market leads the driver monitoring system market in terms of market share in North America. The United States region holds a market share of 16.9% in 2023. The growth in this region is attributed to the presence of major autonomous vehicle vendors along with government policies pushing end users to adopt the technologies.
- In 2022, the United States market held a market share of 87.5% in North America, putting it as a leading region in terms of market share.
- The United Kingdom’s driver monitoring system market is another significant market in the European region. The market thrives at a CAGR of 5.2% between 2023 and 2033. The growth is attributed to the advanced European NCAP policies.
- The Chinese driver monitoring system market thrives at a CAGR of 11.8% during the forecast period. The growth is attributed to higher autonomous vehicle production and stringent safety rules.
- The ultrasonic sensors lead the technology type segment as it holds a market share of 20.5% in 2023. The growth is attributed to the higher affordability and its enhanced accuracy in the dark.
- Based on the vehicle type, the light commercial vehicle segment leads as it holds a market share of 26.0% in 2023.
Competitive Landscape:
The key vendors work on adding the latest safety technologies including infrared and laser sensory technology. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.
Leading Key Players:
- 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.
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Driver Monitoring System Market Segmentation:
By Technology:
- Ultrasonic Sensor
- Lidar Sensor
- Radar Sensor
- Camera Sensor
- Infrared Sensor
- Pressure Sensor
By Sales Channel:
- OEM
- Aftermarket
By Vehicle Type:
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Key Regions Covered:
- North America
- UNITED STATES
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- APEJ
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- MEA
- GCC Countries
- Israel
- South Africa
- Rest of Middle East Asia (MEA)
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