Driver Monitoring System Market to Grow at 13% CAGR till 2024

Growing technological advancements in automotive industry, rising need to curb road accidents, and government rules and regulations to fuel global driver monitoring system market through 2024

According to TechSci Research report, “Global Driver Monitoring System Market By Vehicle Type, By Monitoring Type, By Offering Type, By Component, By Region, Competition, Forecast & Opportunities, 2017 – 2024”, driver monitoring system market, globally, is projected to grow at a CAGR of over 13% during 2019 – 2024, backed by increasing technological advancements in the automotive industry across the globe. Growing integration of driver monitoring systems in passenger cars and commercial vehicles by several automobile manufacturers can be attributed to the rising need to curb injuries and fatalities in road accidents. Moreover, expanding fleet of commercial vehicles is expected to push the demand for driver monitoring systems capable of tracking the drowsiness of truck drivers who drive for long hours at a stretch.  

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“Global Driver Monitoring System Market”

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Accounting for nearly half of the global market, North America driver monitoring system market is being driven by increasing research & development activities and rising need for these systems to help prevent road accidents and injuries across the region. Moreover, growing sales of autonomous vehicles are further aiding the region’s driver monitoring system market, as the technology plays an important role in autonomous vehicles.

Key players operating in global driver monitoring system market like Continental AG, DENSO Corporation, Delphi Automotive PLC, Valeo S.A. and Robert Bosch GmbH are continuously working to develop more affordable and advanced products to further boost their customer base. On the other hand, many start-ups are also continuously working to intensify their business operations by enhancing the quality and portfolio of their products. Several driver monitoring system manufacturers are investing heavily in research & development activities, while various others are investing intensively to expand the reach and availability of their products across the globe. 

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“With growing concerns regarding road accidents, driver monitoring systems are emerging as a promising product to help reduce road accidents related injuries and fatalities. Driver monitoring systems observe driver’s driving habits and monitor hand and head movements to identify the driver’s fatigue level and drowsiness level. With continuous technological advancements, driver monitoring system quality and reliability is anticipated to increase and become much better during the forecast period, thereby making it a preferred feature in automobiles in coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Driver Monitoring System Market By Vehicle Type, By Monitoring Type, By Offering Type, By Component, By Region, Competition, Forecast & Opportunities, 2017 – 2024” has analyzed the potential of driver monitoring system market, globally, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyses emerging trends along with essential drivers and key challenges faced by driver monitoring system market across the globe.

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