What are the key driving factors for the growth of the Driver State Monitoring Systems Market?
Market Analysis
Market Research Future (MRFR) projects the global automotive driver state monitoring systems market to expand at a significant pace from 2022 to 2030 (forecast period).
Driver State Monitoring Systems are systems that collect recognized information about the driver in order to assess the driver's ability to perform the driving task safely. The importance of the systems is growing as a result of the necessity to comprehend and adapt to changing driving conditions. Driver state monitoring systems are often custom-built for a single purpose, such as distraction detection or drowsiness detection systems.
Increased adoption of driver state monitoring systems to lower the number of accidents will provide enormous growth prospects. The expensive expense of driver state monitoring devices, on the other hand, may stifle industry expansion. To capitalize on the opportunities, vendors should prioritize growth prospects in fast-growing areas while maintaining positions in slow-growing ones.
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COVID-19 Impact on the Global Automotive Driver State Monitoring Systems Market
The COVID-19 pandemic is still transforming the growth of numerous industries, but the outbreak's immediate impact varies. While some industries may experience a reduction in demand, many others will stay unaffected and exhibit exciting growth potential. COVID-19 will have little impact on the market for automotive driver state monitoring systems.
Market Segmentation
The global automotive driver state monitoring systems industry has been segmented into technology, component, and vehicle type.
By technology, the global automotive driver state monitoring systems market has been segmented into Heart Rate Monitoring, Facial Recognition, and Others.
By component, the global automotive driver state monitoring systems market has been segmented into Sensors, Camera, Crash Resistant Steel Cabins.
By vehicle type, the global automotive driver state monitoring systems market has been segmented into passenger and commercial vehicles.
Regional Analysis
Based on region, the global automotive driver state monitoring systems market has been divided into the following regions, namely Europe, North America, Asia Pacific, and Middle East & Africa.
In the North American region, the purchasing power of people is high. As a result, North America will be the leading revenue contributor in the driver state monitoring systems market. The industry is also being driven by an increase in the frequency of on-road accidents caused by driver tiredness and distraction. Other factors boosting the market include the expansion of the automotive industry and the implementation of stricter rules requiring the use of electronic log devices to track vehicle driving time.
The Federal Motor Carrier Safety Administration in the United States has issued a new regulation requiring fleet operators to utilize electronic log devices built specifically for recording the amount of time spent driving by a truck driver. These regulations are establishing new requirements in the automotive industry to improve the safety of drivers and other road users. As a result, the government's introduction of new rules is predicted to promote the expansion of the automotive driver state monitoring system over the assessment period.
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Competitive Landscape
The automotive driver state monitoring systems industry is being faced with fierce competition, quick technological advancements, frequent changes in government policies and environmental laws, among other things. Vendors compete on price, product quality, reliability, and aftermarket service. To survive and thrive in an intensely competitive market environment, vendors must develop cost-effective and high-quality driver status monitoring solutions.
Key Players
· Aptiv (U.K)
· Continental AG (Germany)
· Tobii Technology (Sweden)
· Visteon Corporation (U.S.)
· Aisin Seiki Corporation Limited
· Denso Corporation (Japan)
· Ficosa International SA (Portugal)
· Harman International Industries Inc.
· Caterpillar Inc. (U.S.)
· Takata Corporation (Japan)
· Robert Bosch (Germany)
· Valeo (France)
· Seeing MACHINE (Australia)
· Edge3 (U.S.)
· Xilinx (U.S.)
Summary
The global automotive driver state monitoring systems market is anticipated to expand at a significant pace from 2017 to 2023 (forecast period). Increased use of driver state monitoring technologies to reduce the frequency of accidents will give tremendous growth opportunities. The elevated cost of driver state monitoring systems, on the other hand, may hamper industry growth. Vendors should emphasize expansion prospects in fast-growing regions while preserving positions in slow-growing ones in order to benefit from the opportunities.
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