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. The driver monitoring system market will gain from the surging demand implementation of stringent regulations mandate the use of advanced technology like driver monitoring system to prevent unforeseen road accidents.
A driver monitoring system (DMS) is an advanced safety technology that uses various sensors and cameras to monitor the driver’s behavior and alert them if they show signs of fatigue, distraction, or drowsiness. The system can also detect if the driver is not paying attention to the road or if they are using their phone while driving.
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DMS technology is becoming more common in the automotive industry, particularly in high-end vehicles, and it is expected to see significant growth in the future.
The growing awareness about road safety, the increasing number of accidents caused by driver distraction or fatigue, and the implementation of strict safety regulations by governments are driving the growth of the driver monitoring system market. Moreover, the rise of autonomous driving technology is expected to further boost the adoption of DMS in the future, as it will become increasingly important to monitor the driver’s attention and readiness to take control of the vehicle when necessary.
DMS are essential for Level 3 and 4 self-driving or autonomous vehicles, which require drivers to re-engage and ready to control the vehicle at vital points during the trip. Increase in Autonomous vehicle as well as regulation governing them, is estimated to create lucrative opportunities for the market in the forecast period.
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
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Driver monitoring system Market by Sales Channel:
- OEM
- Aftermarket
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
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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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