Driver Monitoring Systems Global Market Report 2024

A driver monitoring system is a safety technology that utilizes various tools to assess a driver's attentiveness and focus while operating a vehicle. By reducing distractions and enhancing concentration on the road, this technology aims to enhance overall road safety.

Driver monitoring systems encompass several types such as driver alertness/distraction monitoring, driver fatigue monitoring, drunk driving monitoring, and identity recognition. Specifically, the driver fatigue monitoring system accurately detects and predicts instances of drowsiness or fatigue in a driver, issuing alerts to prompt necessary actions such as pulling over for safety-a measure vital for the driver's well-being and the safety of others on the road. These systems are applicable in both passenger and commercial vehicles, utilizing components such as interior cameras, sensors, and various other integrated elements.

The driver monitoring systems market research report is one of a series of new reports from The Business Research Company that provides driver monitoring systems market statistics, including global market size, regional shares, competitors with a driver monitoring systems market share, detailed driver monitoring systems market segments, market trends and opportunities, and any further data you may need to thrive in the driver monitoring systems industry. This driver monitoring systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The driver monitoring systems market size has grown rapidly in recent years. It will grow from $1.59 billion in 2023 to $1.75 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth observed in the historic period can be attributed to several factors, including the escalation of vehicle safety regulations, heightened concerns regarding road safety, advancements in AI and machine learning technologies, integration with Advanced Driver Assistance Systems (ADAS), the evolution of the automotive industry, and corporate initiatives focusing on fleet safety.

The driver monitoring systems market size is expected to see strong growth in the next few years. It will grow to $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. Forecasted growth is driven by insurance industry collaboration, liability reduction for OEMs, increased demand for in-cabin monitoring, personalized safety features, and automotive fleet management expansion. Major trends include AI-powered predictive analysis, privacy-focused design, in-car camera systems, health monitoring, real-time driver feedback/alerts, and biometric authentication integration.

The primary driving force behind the growth of the driver monitoring systems (DMS) market is the heightened awareness of road safety, prompted by an increase in on-road accidents attributed to driver fatigue and distraction. According to a 2022 publication by the World Health Organization (WHO), approximately 1.3 million people lose their lives annually due to road traffic crashes. Vulnerable road users, including pedestrians, cyclists, and motorcyclists, constitute over 50% of all road traffic fatalities. Low- and middle-income nations bear the brunt, accounting for approximately 93% of global road fatalities. The economic impact of road traffic accidents is significant, costing most nations around 3% of their gross domestic product. The importance of Driver Monitoring Systems (DMS) is increasing due to the growing necessity to comprehend and adapt to driving conditions, coupled with the imperative to reduce accidents. The prevalence of road accidents arising from factors such as fatigue, distraction, lack of alertness, and instances of drinking and driving contribute to substantial growth in the driver monitoring systems market.

The rising adoption of electric vehicles is anticipated to drive the expansion of the driver monitoring systems market. Electric vehicles (EVs) are vehicles propelled by electric motors drawing power from external batteries. Driver monitoring systems in electric vehicles enhance safety by monitoring driver attentiveness and facilitating a seamless transition between manual and autonomous driving modes. For instance, in April 2023, the International Energy Agency (IEA) reported that electric car sales constituted 14% of all new global car sales in 2022, a significant increase from 9% in 2021. Projections for 2023 indicate a continued upward trend, with over 2.3 million electric cars sold in the first quarter alone, marking a 25% increase from the same period last year. It is estimated that by the end of 2023, 14 million electric cars will be sold, reflecting a 35% year-on-year increase, with accelerated purchases expected in the latter half of the year. Thus, the growing adoption of electric vehicles is a driving force behind the expansion of the driver monitoring systems market.

The high cost associated with certain systems, including adaptive cruise control (ACC), night vision, lane departure warning system (LDWS), and blind-spot detection (BSD), limits their adoption primarily to luxury cars, hindering the growth of the driver monitoring systems market. Commercial systems are notably expensive, with eye-tracking systems costing between $5000 and $40,000. This elevated cost ultimately increases the overall price of vehicles, diminishing the appeal for car owners to adopt such systems. Additionally, complex installation procedures for driver monitoring systems constitute a significant factor expected to impede the growth of the global driver monitoring system market throughout the forecast period.

The global driver monitoring systems market is witnessing several technological advancements that are poised to drive market growth in the forecast period. A notable trend is the development of advanced detection technologies for drivers by prominent OEMs (Original Equipment Manufacturers) and MROs (Maintenance Repair and Overhaul). Panasonic Corporation, for instance, has introduced a drowsiness-control technology designed to detect and predict the level of drowsiness in individuals, enabling them to stay comfortably awake while driving. Similarly, Mercedes-Benz has innovated an attention-assistance device capable of detecting early signs of driver drowsiness and prompting them to stop before it becomes a serious concern. Attention Assist continuously monitors driver actions, creating an individual driver profile at the beginning of each trip, which is then continuously compared with real-time sensor data.

Major players in the driver monitoring systems market are intensifying their focus on introducing artificial intelligence (AI) safety solutions, such as the DMS metric, to optimize revenue in the market. The DMS metric is specifically designed to monitor and analyze a driver's behavior and attentiveness while operating a vehicle. For instance, in June 2023, Smart Eye AB, a Sweden-based system software company, launched a new DMS metric aimed at enhancing road safety and driver health. This innovative feature remotely monitors the driver's heart and respiration rates by analyzing multiple physiological signals. Smart Eye's DMS technology integrates in-car cameras, computer vision, and artificial intelligence to offer insights into the driver's state and behavior. Modern cars with DMS technology leverage AI-powered multimodal software to deliver intelligent safety features that detect and respond to the driver's behavior and state.

In September 2022, HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd. based in the United States and specializing in connected technologies for automotive, consumer, and enterprise markets, completed the acquisition of CAARESYS for an undisclosed sum. This strategic move enables HARMAN to gain access to CAARESYS's in-cabin radar sensor technology, incorporating its unique characteristics that facilitate the seamless integration of radar into its product offerings. CAARESYS, headquartered in Israel, is recognized for its expertise in developing vehicle passenger monitoring technology.

Major companies operating in the driver monitoring systems market report are Ford Motor Co., Robert Bosch GmbH, Hitachi Ltd., Panasonic Corporation, ZF Friedrichshafen AG, Continental AG, Magna International, Aisin Seiki Corporation Limited, Jabil Inc., Magneti Marelli S.p.A, Faurecia SE, NVIDIA Corporation, Johnson Controls Inc., Valeo SA, Texas Instruments Inc., Aptiv plc, Delphi Automotive plc, Intel Corporation, Renesas Electronics Corporation, DENSO Corporation, Autoliv Inc., Visteon Corporation, Takata Corporation, Veoneer Inc., Netradyne Technology India Pvt. Ltd., Mobileye N.V, Tata Elxsi Ltd., Plessey Semiconductors Ltd., Seeing Machines, Stonkam Co. Ltd., Trident Systems Inc., Cipia Vision Ltd., Jungo Connectivity Ltd., Fastree3D, UES Inc.

Asia-Pacific was the largest region in the driver monitoring systems market in 2023. 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.

The countries covered in the driver monitoring systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The driver monitoring systems market consists of sales of camera, detectors, and sensors. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Driver Monitoring Systems Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on driver monitoring systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for driver monitoring systems ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The driver monitoring systems market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Component: Interior Camera; Sensors; Other Components
• 2) By Monitoring Type: Driver Alertness/Distraction Monitoring; Driver Fatigue Monitoring; Drunk Driving Monitoring; Identity Recognition
• 3) By Vehicle Type: Passenger Vehicles; Commercial Vehicles
• Companies Mentioned: Ford Motor Co.; Robert Bosch GmbH; Hitachi Ltd.; Panasonic Corporation; ZF Friedrichshafen AG
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.