#drivermonitoringsystem

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[industryarcmarket]

Driver Monitoring System Market Estimated to Surpass $2.1 Billion by 2026

The global Driver Monitoring System Market is estimated to surpass $2.1 billion marks by 2026 growing at an estimated CAGR of more than 9.8% during the forecast period 2021 to 2026. The surging demand for road safety in automobiles pertaining to driver activeness and stringent government regulations related to driver monitoring will boost the Driver Monitoring Systems market. The market is also driven by an increasing number of accidents and stringent government regulations. The automotive sector has seen a growing inclination towards the safety and comfort of the passenger over the years. This focus on safety of the passengers/driver is illustrated by the steps taken by automotive manufacturers, such as the introduction of seat belts, air-bags and ABS (anti-lock braking) in the vehicles, also by government legislation making such devices compulsory. But with the advent of electronics and the internet connectivity, we have seen a quantum leap in the services now, available to make the vehicle safe as well as comfortable for the driver.

Driver Monitoring System Market Segment Analysis - By Channel

OEMs are showing interest in offering holistic Driver Monitoring System by providing vehicles with higher-order intelligence about the state of the driver, including fatigue, cognitive load, personalisation, and health monitoring. Stereo cameras have the ability to offer more data points and improved functionalities, making them the perfect choice for OEMs looking to incorporate more than five Driver Monitoring System functions. OEMs are expected to enter into more partnerships with medical companies, universities, and technology firms to identify new opportunities and technologies in the Driver Monitoring System space.

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Driver Monitoring System Market Segment Analysis - By Application

Driver Monitoring System combines the use of sensors and cameras and other “intelligent” devices to provide the driver with assistance, guidance and warning regarding various critical situations and in the time of emergencies. The ever-increasing number of traffic accidents in the developed world due to a diminished driver’s vigilance level has become a problem of grave business for the countries. Drivers with a decreased vigilance level suffer from a pronounced diminution in their abilities of perception, realization, and vehicle control, and therefore pose serious risk to their own lives as well the lives of others. The rising demand for driver distraction monitoring as well as drunk driver monitoring in developing countries will propel market growth.

Driver Monitoring System Market Segment Analysis - By Geography

Europe region holds the largest market share in the Driver Monitoring System Market, however, APAC will witness highest growth during the forecast period. The economic conditions in entire Europe are good and people have the purchasing power to buy more sophisticated products. The key technologies in the region are Image Sensing/Cameras, Pressure Mats, Infrared Sensing, Strain Gauges among others. The technological advancement and focus on governmental regulations has led the market in the coming years. Asia-Pacific holds a maximum share in adoption due to its strong foothold in vehicle productions. The other major factors expected to drive the market for Driver Monitoring System in Asia-Pacific are increasing sales of new automobiles, concentrating on research and development into Driver Monitoring System. Economic growth in the area directly influences the selling of passenger cars and commercial vehicles. Manufacturers are looking to improve their flexibility across the value chain thus shifting the market to a more aftermarket based model.

Driver Monitoring System Market Drivers

Surge in Monitoring in Transportation and Logistics sectors

Growth of industrial sectors, logistics and transportation sectors have driven the growth of driver monitoring systems owing to its increasing applications. Through the use of driver monitoring systems included in fleet management solutions, information can be accumulated, stored, processed, monitored, reported and exported. Every aspect of the driver can be tracked focused on driver distraction, health as well as legal culpabilities due to drunk driving. The fleet management software uses a basic combination of big data analytics and GPS to track, analyze and store information and make predictions regarding driver behaviour owing to which it is adopted in the food delivery services. The driver monitoring solution enables live tracking that cuts down the number of steps required to communicate driver status and algorithm-based predictions, which are generally used in food delivery services, transportation and others. These advantages of driver monitoring solutions that enable transition to automated systems and others have fueled the growth of the market.

Shift to a B2C Based approach

There are two ways the business is performed. In the B2B model, the system is sold to the Big market players in the motor vehicles segment for integration of the system with their vehicle from where the product reaches to the end-user who are not the consumers in this model of business. This is the primary model currently used. However B2C or business to customer model, wherein the end-user forms the consumer base as well, is witnessing significant adoption growth. The supply chain is slightly different in the sense that the end product now, rather than going to a vehicle manufacturing for integration with their vehicle, the product is supplied to a retailer to sell it to the end-user directly. This system has an added advantage that the latest technology can be accommodated to keep up the modified norms for driver safety measurement system and monitoring systems, thus driving aftermarket demand.

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Driver Monitoring System Market Challenges

High Cost of Comprehensive Driver Monitoring Systems

The main challenge faced by key market players is the exorbitant retail price of comprehensive Driver Monitoring systems. This hinders the supply-demand chain as most people prefer low-cost sensors or systems that provide limited monitoring. Despite the extensive capabilities of comprehensive driver monitoring systems, the high price acts as an adoption inhibitor for the technology, especially in the aftermarket. Despite the drawbacks of Driver Monitoring System, it saves long-term expenses with one-time installation due to the safety and security offered.

Driver Monitoring System Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Driver Monitoring System Market. Aisin Seiki Co Ltd., Autoliv Inc., Continental Automotive Systems, Delphi, Denso, Johnson Controls, Valeo, Visteon, Magneti Marelli and Robert Bosch GmbH are considered to be the key players of the Driver Monitoring System Market.

Acquisitions/Technology Launches/Partnerships

Magna International Inc., an automotive supplier is in plans of partnering with Bosch and Delphi. Major focus of this partnership is to develop real-world self-driving vehicles with ADAS systems including driver monitoring systems.

July 13, 2020- Tata Motors launched “Fleet Edge” which is a next-generation connected vehicle fleet management solution. The Fleet Edge provides real-time tracking and tracing of its commercial vehicles, fuel efficiency, fuel-loss alerts and others including focus on driver distraction detection.

Key Takeaways

Limited patent validity necessitates companies to come up with newer technologies and innovative products to cater to the growing demand of automotive technology.

The current global driver monitoring systems market is estimated to propel with the growing number of vehicles on the road and the demand for safety from consumers coupled with government legislation (Europe) and other regulatory body requirements.

Safety norms are not the only reason for their high growth; growing personal safety concerns are also playing an imperative role in the rising demand for driver management software in passenger cars.

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B. Advanced Driver Assistance Systems (ADAS) Market

https://www.industryarc.com/Report/20/advanced-driver-assistance-systems-market.html

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[techscimarketresearch]

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 due to increased awareness and expectations about safe driving by installing an advanced driver monitoring system.

The growth can also be attributed to technological advancements such as steering angle sensors, blink monitoring, facial recognition, heart rate monitoring, and a pre-collision system. To reduce road accidents, many governments around the globe are adopting stringent rules and regulations related to the safety of drives, vehicles, and pedestrians, which will further help to boost the market growth over the forecast period. 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.  

Browse 2 market data Tables and 150 Figures spread through 183 Pages and an in-depth TOC on    

"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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[blackvue]

Discover How Driver Monitoring Systems are Changing the Future Automotive Experience

In-vehicle safety systems that uses a car camera to track the driver's awareness and overall vigilance while on the road are known as driver monitoring systems. When the system is indicated of tiredness or distraction, these systems send out alerts to the driver and initiate interventions to keep the vehicle under control. DMS in semi-autonomous vehicles have the ability to reduce the risk of an accident caused by distraction or exhaustion, moreover, prepare the driver to regain control of the vehicle if necessary.

Mode of Functioning

Driver-monitoring systems commonly uses a driver-facing car camera with LEDs or lasers so that it can view the driver's face even at night and see the driver's eyes even if the driver is wearing dark sunglasses. Advanced on-board software collects data from the driver and establishes an initial baseline for the driver's typical, alert condition. The software can then tell if the driver is blinking more than normal, if his eyes are narrowing or closing, or if his head is tilted at an unusual angle. In addition, it can tell whether the driver is looking at the road ahead of him or not, and whether he is paying attention or just staring absently. If the system detects that the driver is distracted or drowsy, it may issue auditory alarms, illuminate a visual signal on the dashboard, or vibrate the seat to grab the driver's attention. It could even notify the fleet supervisor remotely via the smartphone and store the video evidence in the cloud storage for safe keeping so it could be reviewed later if needed.

Autonomous Driving

Driver monitoring systems are critical especially for autonomous driving, which necessitates when the driver is re-engaging and preparing to take control of the car at certain times along the journey. In addition, even when the driver's hands are not on the wheel, driver-monitoring devices is important in ensuring that the driver remains engaged.

Interior Sensing

Drowsiness-detecting and inattention-detecting devices for drivers are just the beginning. As these systems progress, they will become part of a larger interior sensing platform that will offer personalization, advanced safety, infotainment, and perhaps smart home networking.

Thus, if the basic driver-monitoring system is the foundation for all of these sophisticated functions, then you can’t even imagine what is yet to come.