Major players in the driver monitoring system market are Delphi Automotive PLC, Visteon Corporation, Valeo SA, Continental AG, Robert Bosch GmbH, Seeing Machines, Faurecia, DENSO Corporation, Magna International, and Aisin Seiki Corporation Limited (Japan).
The Global
Driver Monitoring System Market is expected to grow from USD 0.99
billion in 2019 and to USD 1.01 billion in 2020 at a growth rate of 2.29%. The
slow growth in 2020 is mainly due to the economic slowdown across countries
owing to the COVID-19 outbreak and the measures to contain it. The market is
then expected to grow and reach USD 1.45 billion in 2023 at CAGR of 12.64%.
The driver monitoring system market consists of sales of driver monitoring systems which is used to collect recognizable information about the driver for assessing the capability of the driver to perform the driving task safely. The market consists of revenue generated by the driver monitoring system companies manufacturing the driver manufacturing systems such as Facial Recognition/ Head Movement, heart rate monitoring, blink monitoring, steering angle sensor and a pre-collision system.
Europe was the largest region in the driver
monitoring system market in 2019.
The global driver monitoring system market is
experiencing several technological advances that are expected to boost the
market in the forecast period. A rising trend is prominent OEMs (Original
Equipment Manufacturers) and MROs (Maintenance Repair and Overhaul) developing
advanced detection technologies for drivers of vehicles. For instance,
Panasonic Corporation has developed a drowsiness-control technology to detect
and predict the level of drowsiness of a person, enabling him/her to remain
comfortably awake while driving. Similarly, Mercedes-Benz has developed an
innovative ATTENTION ASSIST device that can detect when drivers start to get
drowsy and prompt them to stop until it's too late. ATTENTION ASSIST monitors
the actions of the driver and creates an individual driver profile at the start
of each trip, which is then continuously compared with current sensor data.
The driver monitoring system market covered in
this report is segmented by monitoring type into driver alertness/distraction
monitoring; driver fatigue monitoring; drunk driving monitoring; identity
recognition and by vehicle type into passenger vehicles, commercial vehicles.
The high cost of certain systems, such as
adaptive cruise control (ACC), night vision, lane departure warning system
(LDWS), blind-spot detection (BSD), and limiting its adoption only among luxury
cars hamper the growth of driver monitoring systems market. The cost of commercial
systems is very high ranging between USD 5000 and USD 40,000 for building
eye-tracking systems. The high cost of these systems ultimately increases the
overall cost of cars and reduces the interests of car owners to adopt such
systems. Additionally, complex installation procedures for driver monitoring
systems is also a major factor that is expected to restrain the growth of the
global driver monitoring system market over the forecast period.
In April 2019, Nidec Corporation acquired
OMRON Automotive Electronics Co. Ltd for undisclosed amount. Nidec Corporation
focuses on module products such as electric power steering (EPS) motors,
electric brake motors, etc. and electronic control units (ECU). With the
acquisition, Nidec will be able to create new module and systems products by
combining Nidec group's products including motors, pumps, gears with OMRON
Automotive Electronics' products such as ECUs and other electronics products.
Nidec Elesys is strong in wave radar and camera-related products, while OMRON
Automotive Electronics has strengths in laser radar and driver monitoring
systems, which will allow two companies to collectively provide a full spectrum
of sensors required for autonomous driving in the future. OMRON Automotive
Electronics has produced many high-quality control products for the body
control system, ECUs for motor control systems, power control systems, and
other areas to address the market's electrification needs.
Increase in road-safety awareness due to the
rise in several on-road accidents caused by the driver due to fatigue and
distraction is the major driver for the driver monitoring systems (DMS) market.
According to publication by World Health Organization (WHO) in 2020,
approximately 1.35 million people lost lives each year due to road traffic
injuries. The average rate of deaths per 100,000 population is 27.5, and the
risk of a road traffic death is more than three times higher in low-income
countries than in high-income countries, which have the average rate is 8.3
deaths per 100,000 population. The DMS is gaining more importance due to the
growing need for understanding and adjusting to the driving conditions and
reduce the number of accidents. Rise in road accidents due to fatigue,
distraction, and lack of alertness in the driver coupled with drinking and
driving help the DMS market to witness notable growth.
For More Information, Click on the Link Below:-
Global
Driver Monitoring System Market
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
No comments:
Post a Comment