Global Driver Safety Systems Market to Grow at 7.4% CAGR by 2022

In order to study the various trends and patterns prevailing in the overall market for driver safety systems, Market Research Reports Search Engine (MRRSE) has included a new report titled “Global Driver Safety Systems Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. Readers can access the regional as well as segment-wise analysis for acquiring precise information about the global market structure.

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In recent years, there have been a spate of autonomous vehicular technologies with a variety of reactive and responsive features that aim to enhance the convenience and safety of drivers and the passengers. The increasing incorporation of advanced driver-assistance systems (ADAS) has boosted the adoption of driver safety systems in cars of all types, including compact, mid-sized, and commercial vehicles. In various regions, increased government focus on improving the safety of passengers and reduce the rising road fatalities have led car makers to incorporate driver safety systems. The growing popularity of driver safety systems equipped with a variety of functionalities such as lane departure warning, blind spot warning, steering angle sensor, and heart rate-monitoring is accentuating the market. The demand for ADAS as a part of aftermarket solutions bodes well for the driver safety systems market. The growing demand for distraction monitoring systems in passenger cars in developed and developing regions is boosting the market. The market is expected to witness the adoption of driver safety system in cars from premium and luxury segments to those in compact and mid-sized vehicles, especially in developing and developed nations.

The global driver safety systems market is anticipated to be worth US$1,921.3 Mn by 2017 end and is projected to reach US$2,750.0 by the end of 2022. The market is anticipated to expand at a CAGR of 7.4% from 2017 to 2022.

Global Driver Safety Systems Market: Dynamics

The report provides in-depth insights into key drivers and restraining factors, notable trends and lucrative avenues, major technological advancements, and competitive landscape. The research presents a comparative analysis of the growth trajectory of the various segments by analyzing year-over-year (YoY) growth statistics during the historical period. The report evaluates key factors impacting the growth of prominent regional markets and notable opportunities in various technology and vehicle segments in these markets.

The growing demand for devices with reactive and responsive features to improve the safety of drivers and passengers among car buyers is a key factor bolstering the demand for driver safety systems. The rising adoption of ADAS in passenger cars in various developing and developed regions is a key trend boosting the market. A burgeoning electronics automotive market is a notable trend accentuating the market. In addition, significant focus of aftermarket players on advanced driver-assistance systems in several emerging markets is expected to open up exciting avenues in the coming years.

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Global Driver Safety Systems Market: Segmentation

The report segments the market on the basis of technology, vehicle type, sales channel, and region.

On the basis of technology, the research segments the market into eye-tracking, facial expressions, heart rate-monitoring, steering angle sensor (SAS), and lane departure system. Of these, the eye-tracking segment leads the market, currently holding the major share and is expected to maintain its lead throughout the forecast period.

On the basis of vehicle type, the report segments the market into compact, mid-sized, premium, luxury, commercial vehicle, and heavy commercial.

Based on sales channel, the study bifurcates the overall market into OEM and aftermarket.

The various regional markets for driver safety systems analyzed in the study are Latin America, North America, the Middle East and Africa (MEA), Europe, Asia Pacific excluding Japan (APEJ), and Japan. Of these, the APEJ is the most attractive market holding the major revenue share of the global market. The regional market is anticipated to retain its dominance throughout the assessment period. This is primarily attributed to a burgeoning passengers market in several emerging economies and the rising adoption of ADAS in vehicles in numerous developed nations.

Companies profiled in the report are:

The study elaborate profiles key market players and offers their projections regarding their revenue share during the forecast period. The report evaluates key strategies adopted by them to consolidate their shares in various regions. Some of the key players profiled in the report are Magna International Inc., Robert Bosch GmbH, Smart Eye AB, Seeing Machines, Valeo S.A., Continental AG, Denso Corporation, and Infineon Technologies AG.

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This release was published on openPR.