PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1512173
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1512173
Market Overview
The global driver alert system market will generate an estimated revenue of USD 9,816.3 million in 2024, which is expected to witness a CAGR of 12.3% during 2024- 2030, to reach USD 19,724.2 million by 2030.
The driver alert system is used to monitor the driver and let them know if they seem to be dozing off or waking up from a nap. It is meant to detect cases of risky or impaired driving to prevent harm.
The key trend driving the market is innovative technological developments since they result in the development of several safety solutions. When sensor technologies are incorporated with assistance like AI and ML, the driver alert systems turn out to be more accurate and timely warnings. When it comes to the need for driver alert systems, the primary argument is that of sensor technology advancement.
The data collected regarding the driver's behavior in real-time includes sensors annexed into the cameras, infrared sensors, steering angle sensors, and eye-tracking sensors. Laurie has also identified some of the advanced technologies that are driving the market as forward collision systems and lane departure systems.
Such components as the rising trend in urbanization and the number of cars on the roads act as precursors to pushing for better implementation of road safety measures. The other factors promoting market development are awareness and educational programs initiated by a large number of organizations that call for safe driving and traffic rules and regulations.
Key Insights
The lane departure warning category dominates the market with a 40% share. LDW systems use cameras and sensors for lane marking and warning of unintentional lane departures.
Automakers are adopting LDW systems to meet customer demand for better road safety and
comply with government regulations.
The fatigue monitoring category is expected to grow at the highest CAGR of 12.7% during the forecast period. The rapid adoption of fatigue monitoring systems is due to their effectiveness in detecting drowsiness, a key cause of accidents.
The cameras category dominates the market with a 50% share. Cameras capture real-time views of closed eyes, head position, and facial expressions, and analyze the data using computer vision techniques. Advanced technologies help analyze driver behavior with more detailed information.
The sensors category is expected to grow at a higher CAGR during the forecast period.
The OEMs category holds a larger market share of around 70%. OEMs integrate driver alert systems into most vehicles during production, either as standard or optional features. The focus on road and passenger safety and strict regulations drives the sale of vehicles with preinstalled driver alert systems.
The aftermarket category is expected to grow at a higher CAGR during the forecast period.
Technological advancements and increased consumer awareness of road safety are encouraging vehicle owners to install driver alert systems in vehicles that lack this feature.
Passenger vehicles hold the largest market share in 2024.
Commercial vehicles are expected to witness a higher CAGR of 12.5%. Manufacturers are focusing on preventing accidents and ensuring safety for drivers, passengers, and pedestrians. Strict regulations on driving hours also drive the adoption of these systems.
North America holds the largest market share of 45% due to major automotive manufacturers, strict safety regulations, and technological advancements. Government
support and the increasing sale of vehicles with ADAS in the U.S. and Canada drive market growth.
Asia-Pacific is expected to grow at the highest CAGR of 12.7% during 2024-2030. This growth is driven by the increasing number of vehicles, rising awareness of road safety, and the growing number of accidents.