Wilmington, Delaware, Nov. 16, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s recent market analysis, the Global Driver Monitoring System Market value is estimated at US$ 2.7 billion in 2023 and is expected to rise at a strong CAGR of over 6.8% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
A Driver Monitoring System (DMS) is a sophisticated piece of technology that monitors and analyses a driver's behavior and attentiveness while operating a vehicle. DMS tracks the driver's behaviors using a variety of sensors, cameras, and algorithms, including eye movement, head position, facial expressions, and other behavioral patterns. A Driver Monitoring System's primary purpose is to improve road safety by preventing accidents caused by driver attention, drowsiness, or impairment.
Several countries and regions have enacted or are in the process of enacting rules requiring the installation of DMS in automobiles. For example, the European New Car Evaluation Programme (Euro NCAP) has included DMS in its safety evaluation criteria, accelerating DMS adoption in the European market.
- According to a deep-dive market assessment by RationalStat, the global Driver Monitoring System market has been analyzed on the basis of market segments, including technology, component, type of monitoring, vehicle type, sales channel, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Driver Monitoring System market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Driver Monitoring System market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Driver Monitoring System Market: Segmental and Market Share Analysis
- On the basis of sales channel, OEMS are anticipated to dominate the global driver monitoring system market by providing vehicles by providing higher order intelligence about the state of the driver, including fatigue, cognitive load, personalization and health monitoring.
- On the basis of service, professional services segment will dominate the market. Due to rising demand for tailor-made features to improve performance efficiencies and the need to provide technical support.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 2.7 billion |
| Market Size Forecast | US$ 4.2 billion |
| Growth Rate | 6.8% |
| Dominant Segment | OEMs |
| Dominant Region | Europe |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global driver monitoring system market include.
- In 2022, Mitsubishi Electric Driver Monitoring Technology presented a new Advanced Driver Assistance System (ADAS) that identifies and monitors the physical state of a vehicle’s driver and occupants in order to encourage safe vehicle operation.
Some of the prominent players and suppliers operating and contributing significantly to the global driver monitoring system market growth include Continental AG, ZF Friedrichshafen AG, Mobileye, Aptiv Plc, Veoneer Inc, Valeo SA, Magna International, Aisin Seiki Co., Ltd, Texas Instruments Incorporated, NXP Semiconductors N.V, Intel Corporation, Hitachi Ltd, and Renesas Electronics Corporation, among others.
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RationalStat has segmented the global driver monitoring system market based on technology, component, type of monitoring, vehicle type, sales channel, and region
- Global Driver Monitoring System Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Technology
- Ultrasonic Sensor
- Lidar Sensor
- Radar Sensor
- Camera Sensor
- Infrared Sensor
- Pressure Sensor
- Global Driver Monitoring System Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Component
- Cameras
- Sensors
- Others
- Global Driver Monitoring System Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type of Monitoring
- Driver State Monitoring
- Driver Health Monitoring
- Global Driver Monitoring System Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Global Driver Monitoring System Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Sales Channel
- OEM
- Aftermarket
- Global Driver Monitoring System Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Driver Monitoring System Market
- US
- Canada
- Latin America Driver Monitoring System Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Driver Monitoring System Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Driver Monitoring System Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Driver Monitoring System Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Driver Monitoring System Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Driver Monitoring System Market
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Key Questions Answered in the Driver Monitoring System Report:
- What will be the market value of the global driver monitoring system market by 2030?
- What is the market size of the global driver monitoring system market?
- What are the market drivers of the global driver monitoring system market?
- What are the key trends in the global driver monitoring system market?
- Which is the leading region in the global driver monitoring system market?
- What are the major companies operating in the global driver monitoring system market?
- What are the market shares by key segments in the global driver monitoring system market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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