Press release
Demand For Advanced Driver Assistance Systems Expects A Pegging Value Of Us$ 101 Bn By 2031
According to a new study by Fact.MR, the rising demand for greater automotive safety will enable growth in the driver alert system market at above 14% CAGR between 2020 and 2030. Innovations in the field of advanced driver assistance systems (ADAS) is expected to create an environment conducive to the growth of the market.To Get In-depth Information View Full Report – https://www.factmr.com/report/5360/driver-alert-system-market
Recent advancements in sensor technology, coupled with the surge in demand for advanced driver assistance systems (ADAS) is also providing impetus to the market. Fact.MR expects a threefold growth, pegging a value of US$ 101 Bn by 2031.
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Some of the leading car makers are introducing cutting-edge technologies in their vehicles to curb this incidence.
Spurred by these factors, sales recorded in the driver assistance systems market is surging at an impressive pace. Fact MR’s study on the market provides insights into various growth drivers. It also gauges the investment feasibility across key segment. Some of the key takeaways from the report are highlighted below:
Key Takeaways
The sound alert system segment is expected remain lucrative in terms of alert
Adoption of driver alert systems in fatigue prevention continues to gain traction
Passenger vehicle is expected to remain lucrative in terms of vehicle throughout the forecast period
Asia Pacific will emerge as a lucrative market for driver alert systems
In terms of propulsion, gasoline is expected to emerge as the key segment in terms of propulsion
Component-wise, sensors will lead the market through the forecast period
“The advances in advanced driver assistance systems (ADAS) in response to the surging demand for semi-autonomous vehicles has been creating growth opportunities for the driver alert systems market. These systems are expected to become pre-requisite for self-driving cars in future,”said a Fact.MR analyst.
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Increasing Demand for ADAS Steering Growth
With the rapidly evolving automotive industry, the demand for various ADAS such as driver connective solutions, weather alerts, safety alerts, and others is increasing exponentially.
Driver alert systems, being an integral part of ADAS, have emerged as a highly sought-after technology especially with rising focus on curbing the incidence of road accidents.
Driver alert system is gaining traction not only in luxury vehicles segment, but also in small and medium sized vehicles categories. The increase in demand for passenger vehicles, coupled with the diverse applications of sensors, starting from disaster to road safety alerts, is creating prospects for growth of the market.
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Key Segments Covered
Component
Driver Alert Sensors
Driver Alert Cameras
Other Driver Alert Systems
Alert
Driver Alert Systems for Steering and Seat Vibration
Driver Alert Systems for Sound Alerts
Driver Alert Systems for Other Alerts
Type
Fatigue Driver Alert Systems
Drowsiness Driver Alert Systems
Drunk Driving Driver Alert Systems
Driver Alert Systems for Others
Vehicle
Driver Alert Systems for Passenger Vehicles
Driver Alert Systems for Commercial Vehicles
LCV
HCV
Buses & Coaches
Supplier
Driver Alert Systems Sales via OEMs
Driver Alert Systems Sales via Aftermarket
Propulsion
Gasoline propelled Driver Alert Systems
Diesel propelled Driver Alert Systems
Hybrid propelled Driver Alert Systems
Electric propelled Driver Alert Systems
Competitive Landscape
The market for driver alert system is a highly competitive one. Market players are therefore adopting various strategies to gain competitive edge. Some of them are focusing on product launches to gain traction.
For instance, Continental AG has launched their advanced driver alert system Turn Assist System equipped with short range radar in order to detect and send alert regarding movement and speed more precisely to protect cyclists and pedestrians in the current year.
Delphi has launched their new ADAS Kit for driver safety alert in November, 2020 to expand their diagnostic capability in order to provide more advanced driver alert system solutions-. Their modular ADAS kit adds static and dynamic calibration of Advanced Driver Assistance Systems (ADAS) to Delphi Technologies’ existing suite of automotive diagnostic tools.
Key Points Covered in Driver Alert System Industry Analysis
Market estimates and forecast 2016-2031
Key drivers and restraints impacting market growth
Segment-wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Market Share Analysis
Key Product Innovations and Regulatory Climate
COVID-19 Impact on Driver Alert System Market and How to Navigate
Recommendation on Key Winning Strategies
For More Insights- https://www.newswire.co.kr/newsRead.php?no=926964
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