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Driver Monitoring Systems Market By Vehicle Class (Passenger Cars, Commercial Vehicles) - Growth, Share, Opportunities & Competitive Analysis, 2018 – 2026

Increase in the safety demand for drivers to ensure positive growth in the driver monitoring systems market.

The global driver monitoring systems (DMS) market was worth US$ 5,170.5 million in 2017 and is expected to grow at a CAGR of 16.4% from 2018 to 2026. Increasing demand for driver's safety tools is pointed to as the most prominent factor influencing overall DMS market growth. In recent years, the rise in traffic accidents has contributed to rapid growth in the overall DMS market. Furthermore, an increase in the number of health issues, such as fatigue and low vision, among others, leads to an increase in the demand for such driver safety tools. The emerging need for a safe, efficient, and convenient driving experience, along with the strengthened government safety regulations regarding drivers' safety, further set the DMS market to grow over the review period. The growing market for luxury automobiles has a positive impact on the DMS market, creating a high demand for advanced DMS systems. Despite the high cost of the system, DMS is widely used in luxury vehicles. Luxury passenger cars have witnessed a rise in market penetration in 2017, owing to an increase in driver safety concerns coupled with the improving per capita income of developing countries.

Market Snapshot

The passenger car segment will dominate the DMS market throughout the forecast period.

The global DMS market was dominated by the passenger car segment, which secured more than 70% of the market share in 2017. The increasing popularity of luxury cars, coupled with the high demand for advanced driver safety tools, allows DMS to register significant growth in the passenger car segment. A consistent rise in road accidents owing to drivers' inattentiveness is observed as one of the promising factors causing the DMS market to witness high market penetration. The growing luxury passenger car market, combined with rising road accidents, positions the DMS market for significant growth. Among developed countries, despite improved road safety, road accidents claimed the lives of 1.3 million people worldwide in 2017, with driver inattentiveness as a major reason. The global market for passenger car driver monitoring systems was valued at US$ 4,063.2 million in 2017 and is expected to grow at a CAGR of 15.8% from 2018 to 2026.

Europe dominates the DMS market with more than 40% market share; North America will emerge as the next promising market.

In recent years, Europe accounted for the highest market share, owing to an increasing automotive industry coupled with high demand for driver safety tools in the global DMS market. Government initiatives such as the New Car Assist Program (NCAP) cited this as one of the primary reasons why Europe leads the global market for driver monitoring systems (DMS). The European government has strengthened the safety regulations regarding the integration of safety tools in both passenger and commercial cars. In this region, DMS has seen widespread adoption in both the passenger and commercial vehicle segments. Technological advancements in the automotive industry are pointed to as a highly contributing factor in overall DMS market growth. The European luxury car market witnessed tremendous growth in 2017, thereby increasing market demand for driver monitoring systems. On June 1, 2018, the European Automotive Manufacturers Association (EAMA) announced growth of 2.7% in passenger car production, thereby successfully completing the target of 16.6 million cars in 2017.

North America, along with Asia Pacific, is projected to register the fastest growth in the global DMS market during the forecast period from 2018 to 2026. The global DMS market further witnesses the high contribution of the developing automotive industry in North America, along with increasing demand for luxury cars in the Asia Pacific region, to overall market growth. Growing safety concerns coupled with increasing demand for advanced driver safety systems are some more factors supporting the DMS market's growth in these regions. In addition, technological advancements across some of the leading countries, including China, Japan, and South Korea, among others, have been reported for their crucial role in overall DMS market expansion.

The development of Products Remains a Key Strategy.

Product developments pointed to one of the major strategies getting rapid traction in the overall DMS market in recent years. Software upgrades are reported to be one of the most widely used strategies for maintaining a leading position in the global DMS market. Furthermore, hardware advancements combined with the incorporation of newer technologies into existing systems are some additional product development avenues identified during company profiling. For instance, on December 15, 2016, Pioneer Corporation, one of the leading companies in proving autonomous driving solutions, announced the launch of driver alertness monitoring systems for both passenger and commercial cars. This newly launched DMS system comprises advanced technology such as image processing and artificial intelligence, among others, coupled with highly innovative sensors capable of detecting signs of drowsiness by heart rate.

Because of the existing system's cost-effective sensor fusion, the driver monitoring systems market is expected to see the introduction of a low-cost, highly effective solution by 2020. Commercial car segments also witnessed huge product development, considering increasing demand coupled with technological advancements in the automotive industry. For example, on February 7, 2017, BharatBenz Corporation, a wholly-owned subsidiary of Daimler AG, one of the leading German multinational automotive corporations, launched DMS designed specifically for commercial vehicles. This DMS employs state-of-the-art artificial intelligence along with computer vision technologies in order to identify facial patterns and other natural causes of accidents.

Periods of History and Forecast

2016 : Historic year.

2017: Base Year

2018–2026: Forecast Period

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The driver monitoring system market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global market for driver monitoring systems based on vehicle class and geography.

Vehicle Class Segment for Driver Monitoring Systems (2016-2026; US$ Mn)

  • Passenger Cars
  • Commercial Vehicles

Geography Segment (2016-2026; millions of dollars)

North America

  • U.S.
  • rest of North America

Europe

  • U.K.
  • Germany
  • France
  • Rest of Europe

Asia-Pacific (APAC)

  • China
  • Japan
  • South Asia
  • Rest of Asia Pacific

Rest of the World (RoW)

  • Middle East and Africa (MEA)
  • Latin America

This report's distinct data points

  • Statistics on the adoption of DMS in both passenger as well as commercial vehicle segments per region
  • The market size for DMS has been calculated based on concrete parameters, including the distribution of DMS among passenger cars as well as commercial cars worldwide.
  • In addition, dynamics in the automotive industry across different geographies have been equally considered for estimating the growth rate and forecast market size.
  • Comparative scenario for all the segments for years 2017 (actual) and 2026 (forecast)

Frequently Asked Questions:

The market for Driver Monitoring Systems Market is expected to reach US$ 5,170.5 Mn by 2026.

The Driver Monitoring Systems Market is expected to see significant CAGR growth over the coming years, at 16.4%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Sumitomo Riko Company Ltd. 51, AG Electronics, Inc. 53, Nissan Motor Co., Ltd. 55, Aisin Seiki Co., Ltd. 57, Autoliv, Inc. 59, Continental Automotive Systems, Inc. 61 are some of the major players in the global market.

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Published Date:  Jul 2018
Category:  Technology & Media
Report ID:   59221
Report Format:   PDF
Pages:   120
Rating:    4.3 (60)
Delivery Time: 24 Hours to 48 Hours   
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