ADVERTISEMENT

market

Driver Monitoring Systems Market to Reach $4.6 Billion by 2031: Allied Market Research

ADVERTISEMENT

connected market research

Factors driving the growth of the global driver monitoring systems market are the high demand for safety devices and strict safety rules and regulations. Technological advancements and mandatory regulations for driver tracking systems to be installed in vehicles are expected to provide huge growth opportunities for the market. Regionally, the European market will maintain its dominance in terms of revenue during the forecast period.

PORTLAND, OR, Nov. 25, 2022 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, the global Driver Monitoring System market $1.8 billion was generated in 2021 and is expected to reach $4.6 billion in 2031, witnessing a CAGR of 10.2% from 2022 to 2031. The report presents a detailed analysis of the changing market trends, top segments, key investment pockets , value chain, regional landscape. and competitive landscape. The report is a useful source of information for key market players, new entrants, investors and stakeholders in formulating strategies for the future and taking steps to strengthen their position in the market.

Download free sample report , https://www.alliedmarketresearch.com/request-sample/4887

Driver Monitoring System industry Reporting coverage and details:

report coverage

Description

forecast period

2022-2031

base year

2021

Market size in 2021

$1.8 billion

Market size in 2031

$4.6 billion

CAGR

10.2%

Number of pages in the report

342

covered segments

Vehicle type, monitoring type, vehicle drive, component, sales channel and region

the drivers

High demand for safety equipment and strict safety rules and regulations.

Increase in demand for light commercial vehicles mainly for the transport of goods.

opportunity

Technological advancements and mandatory regulations regarding driver monitoring systems to be installed in vehicles.

Helplessness

High initial cost and complex structure.

COVID-19 Scenario:

  • The COVID-19 outbreak negatively impacted the driving monitoring system due to traffic restrictions.

  • Sales of driver monitoring systems are directly related to the production and sales activities of the automotive industry. Global car production decreased by 16% in 2020 compared to car production in 2019. Global car sales fell by almost 14% (year on year) from 90.42 million units in 2019 to 77.97 million units in 2020. This, in in turn, negatively impacted the driving monitoring systems market.

  • While the automotive market was struggling at the time of the pandemic, the high demand for driver monitoring system integration in commercial vehicles, the technological advancements in driver monitoring systems and the high demand for safety features are expected to drive huge future growth in the driver monitoring system market. There’s room. From consumers to cars.

Also read  Shortseller Carson Block says China no longer prioritizes foreign investment and macro policy under Xi Jinping is impossible to predict

The story continues

The report provides a detailed segmentation of the global driver monitoring systems market based on vehicle type, monitoring type, vehicle powertrain, component, sales channel, and region. The report provides an analysis of each segment and sub-segment using tables and figures. This analysis helps the market players, investors and new entrants to determine the sub-segments to achieve growth in the coming years.

Receive research reports? Please inquire before purchasing – https://www.alliedmarketresearch.com/purchase-enquiry/4887

Based on vehicle type, the passenger car segment held the largest share in 2021, accounting for more than three-quarters of the global market share of driver monitoring systems, and will dominate in 2031. However, it is estimated that the heavy commercial vehicle segment will witness the fastest CAGR of 13.1% during the forecast period. The report also analyzes segments such as light commercial vehicles.

Based on the type of monitoring, the driver health monitoring segment held the largest share in 2021, accounting for nearly four-fifths of the global driver monitoring systems market, and will rule by 2031. However, the driver health monitoring segment is estimated to witness the fastest CAGR of 12.4% during the forecast period. The report also analyzes segments such as personal and others.

On the basis of vehicle propulsion, the ICE vehicles segment held the largest share in 2021, accounting for more than 90% of the global driver monitoring systems market, and will be a leading driver during the forecast period. However, the electric vehicle segment is expected to experience the fastest CAGR of 16.8% during the forecast period.

Also read  Understanding the Decentralized Currency Market - The Role of Bitcoin

On a component basis, the sensor segment held the largest share in 2021, accounting for three-fifths of the global driver control systems market, and will maintain its leadership through the forecast period. The same segment is expected to witness the fastest CAGR of 10.8% during the forecast period. The report also includes cameras and other segments.

Based on sales channel, the OEM segment held the largest share in 2021, accounting for more than 90% of the global driver monitoring system market, and will maintain its leadership during the forecast period. The same segment is expected to witness the fastest CAGR of 10.3% during the forecast period. The report also analyzes the aftermarket segment.

Based on region, the market in Europe was the largest in 2021, accounting for two-fifths of the global driver monitoring system market share, and it is likely to maintain its leading position over the forecast period. However, the market in the Asia Pacific region is expected to experience the highest CAGR of 11.5% between 2022 and 2031. Other regions analyzed in the study include North America and LAMEA.

Get research report – http://bit.ly/3GDSg2J

Major players of the global driver monitoring system market analyzed in the research include Aisin Corporation, Autoliv, Inc., Continental AG, Denso Corporation, Intel Corporation, Magna International, Inc., NXP Semiconductors, Panasonic Corporation, Robert Bosch GmbH , Texas Instruments Huh . Inc., Valeo and ZF Friedrichshafen AG.

We have similar reports on the automotive industry,

ADAS market size To reach $189,142.9 million at 21.4% CAGR in 2022-2026

Driver Alert Alert System market Research Report 2022-2030

Also read  Market Leaders: Where to Look for Leadership in the Indian Market? Shibani Sarkar Kurien explains

vehicle health monitoring market Research Report 2022-2030

Integrated vehicle health management market Research Report 2022-2030

about us

Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research offers global enterprises as well as small and medium-sized businesses unparalleled qualitymarket research reportand “Business Intelligence Solutions.” AMR takes a focused approach to providing business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market domains.

We have a professional business relationship with several companies and this helps us to excavate market data which helps us to create accurate research data tables and confirm the pinpoint accuracy of our market forecasts. Pawan Kumar, CEO, Allied Market Research, plays an important role in motivating and encouraging everyone associated with the company to maintain high quality data and help customers achieve success in every way possible. All data presented in the report published by us has been extracted through primary interviews with top executives of leading companies in the respective domain. Our secondary data acquisition methodology includes in-depth online and offline research and discussion with expert industry professionals and analysts.

Contact: Contact: David Correa 5933 NE Win Sievers Drive #205, Portland, OR 97220 United States USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022 UK: +44-845 -528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975 [email protected] Web: Follow our blog: www.theinnovativereport. com

Source: news.google.com

ADVERTISEMENT

ADVERTISEMENT

Leave a Comment