Press release
Soaring Demand Set to Propel Driver Monitoring Systems Market to $2.77 Billion by 2029
Driver Monitoring Systems
How Large Will the Driver Monitoring Systems Market Size By 2025?
The market size of driver monitoring systems has seen robust growth in the past few years, stretching from $1.73 billion in 2024 to a projected $1.89 billion in 2025, boasting a compound annual growth rate (CAGR) of 9.5%. Several factors contribute to this historic growth pattern including increased vehicle safety regulations, heightened road safety concerns, advancements in artificial intelligence and machine learning, incorporation with advanced driver assistance systems (ADAS), developments within the automotive industry, and corporate measures for fleet safety.
How Big Is the Driver Monitoring Systems Market Size Expected to Grow by 2029?
Rapid expansion is anticipated in the driver monitoring systems market in the coming years, with projections showing a growth to $2.77 billion by 2029, at a compound annual growth rate (CAGR) of 10.0%. This projected increase within the forecasted period can be attributed to the collaboration with insurance industry, liability mitigation for OEMs, in-cabin monitoring demand surge, personalized safety enhancements, and expansion of automotive fleet management. The forecast period is also expected to have major trends including predictive analysis powered by AI, designs centred on privacy, in-car camera systems, health monitoring features, real-time alerts and feedback for drivers, and integration of biometric authentication.
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Which Key Market Drivers Powering Driver Monitoring Systems Market Expansion and Growth?
The primary catalyst for the growth of the driver monitoring systems (DMS) market is the enhanced awareness regarding road safety, aimed at curbing the increase in on-road accidents induced by tiredness and distractions among drivers. Based on 2022 data released by the World Health Organization (WHO), around 1.3 million people annually suffer fatalities in road traffic collisions. Interestingly, over half of these fatalities are pedestrians, cyclists, and motorbike riders. Almost 93% of these global fatalities stem from countries with low to middle income. Furthermore, road traffic crashes have significant economic repercussions, draining about 3% of the gross domestic product from most countries. As such, there is a growing emphasis on the importance of DMS to help analyze and adapt to driving situations, and subsequently reduce accident occurrence. Factors such as driver fatigue, distraction, lack of alertness, as well as alcohol-impaired driving contribute to road accidents, hence fueling the need for driver monitoring systems and driving significant growth in its market.
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Which Fast-Growing Trends Are Poised to Disrupt the Driver Monitoring Systems Market?
Cutting-edge technologies are revolutionizing the worldwide driver monitoring systems market, expected to propel its growth in the upcoming years. A notable trend is the shift of influential OEMs and MROs towards creating sophisticated detection systems for drivers. For instance, Panasonic Corporation has brought forth a technology that controls drowsiness, capable of identifying and foreseeing a person's sleepiness levels, thus ensuring they stay alert while driving. In a similar vein, Mercedes-Benz has engineered a novel attention-assistance device designed to sense the onset of fatigue in drivers and alert them to take a break before it becomes dangerous. Attention Assist tracks the driver's behaviour and creates a unique profile at the beginning of each journey, which is then incessantly juxtaposed with the real-time sensor data.
What Are the Emerging Segments in the Driver Monitoring Systems Market?
The driver monitoring systems market covered in this report is segmented -
1) By Component: Interior Camera, Sensors, Other Components
2) By Monitoring Type: Driver Alertness Or Distraction Monitoring, Driver Fatigue Monitoring, Drunk Driving Monitoring, Identity Recognition
3) By Vehicle Type: Passenger Vehicles, Commercial Vehicles
Subsegments:
1) By Interior Camera: Infrared Cameras, RGB Cameras, Depth Cameras
2) By Sensors: Eye Tracking Sensors, Facial Recognition Sensors, Heart Rate Sensors
3) By Other Components: Display Units, Control Units, Data Processing Units
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Who Are the Global Leaders in the Driver Monitoring Systems Market?
Major companies operating in the driver monitoring systems market include Ford Motor Co., Robert Bosch GmbH, Hitachi Ltd., Panasonic Corporation, ZF Friedrichshafen AG, Continental AG, Magna International, Aisin Seiki Corporation Limited, Magneti Marelli S.p.A, Faurecia SE, NVIDIA Corporation, Valeo SA, Texas Instruments Inc., Aptiv plc, Delphi Automotive plc, Intel Corporation, Renesas Electronics Corporation, DENSO Corporation, Autoliv Inc., Visteon Corporation, Veoneer Inc., Netradyne Technology India Pvt. Ltd., Mobileye N.V, Tata Elxsi Ltd., Plessey Semiconductors Ltd., Seeing Machines, Stonkam Co. Ltd., Cipia Vision Ltd., Jungo Connectivity Ltd., Fastree3D, UES Inc.
Which are the Top Profitable Regional Markets for the Driver Monitoring Systems Industry?
Asia-Pacific was the largest region in the driver monitoring systems market in 2024. North America was the second largest region in the global driver monitoring systems market share. The regions covered in the driver monitoring systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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