Automotive Driver Monitoring Market to grow by USD 1.582 billion from 2022 to 2027 | The increasing demand for commercial vehicles drives the market - Technavio

NEW YORK, Sept. 1, 2023 /PRNewswire/ -- The automotive driver monitoring market size is estimated to increase by USD 1.582 billion from 2022 to 2027. The market's growth momentum will progress at a CAGR of  9.34%. The increasing demand for commercial vehicles is notably driving the market growth. The rising global trade, logistics and operations, and construction and mining activities are some of the key factors that are driving the demand for commercial vehicles, including medium and heavy-duty trucks. Furthermore, driving commercial vehicles is a tedious task owing to their considerable size and absence of convenience and comfort characteristics when compared to the better comfort of the passenger car segment. This led several manufacturers to introduce driver monitoring systems in commercial vehicles to guarantee the safety of both drivers and other road users. Therefore, enhancing driver safety, preventing accidents, minimizing insurance costs, optimizing performance, and incorporating other vehicle technologies are anticipated to augment the automotive driver monitoring market growth during the forecast period. Request a sample report

Automotive Driver Monitoring Market – Company Analysis

Vendor Landscape - The global automotive driver monitoring market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer automotive driver monitoring in the market are Continental AG, DENSO Corp., Intel Corp., Jabil Inc., Magna International Inc., Marelli Holdings Co. Ltd., NetraDyne Inc., NVIDIA Corp., NXP Semiconductors NV, OmniVision Technologies Inc., OMRON Corp., Qualcomm Inc., Robert Bosch GmbH, Stonkam Co. Ltd., Tata Elxsi Ltd., Tobii AB, Toyota Motor Corp., Valeo SA, Veoneer Inc., and Visteon Corp. and others.

 Buy the report!

Company Offerings -

• Continental AG - The company offers automotive driver monitoring systems such as cabin sensing used for automated driving. 
• DENSO Corp. -  The company offers automotive driver monitoring systems such as front radar sensors, corner radar sensors, LiDAR, Stereo Vision sensors, and sonar sensors. 
• Intel Corp. - The company offers automotive driver monitoring systems such as cameras, LiDAR, radar, and infrared sensors through Advanced Driver Assistance Systems ADAS. 
• For details on the vendor and its offerings – Request a sample report

Automotive Driver Monitoring Market - Segmentation Assessment

Segment Overview

Technavio has segmented the market based on type (Driver state monitoring and Driver health monitoring), application (Commercial vehicles and Passenger cars), and geography (Europe, North America, APAC, South America, and Middle East and Africa). 

• The driver state monitoring segment is estimated to witness significant growth during the forecast period. This segment is considered as one of the major aspects of the driver wellness monitoring system which improves the safety of drivers and other road users as driving has become an exhaustive and tiring activity. Also, the rising road network and increasing infrastructure upsurge self-drive outstation trips. For instance, India, one of the fastest-growing automotive markets in the world, is experiencing a year-over-year percentage increase of about 33% in road trips. Therefore, the chances of drivers undergoing tiredness are more elevated on long or continuous drives. Consequently, these concerns need driver-state monitoring systems as they can warn and alert the driver. Thus, these applications are anticipated to fuel the growth of the segment which, in turn, will boost the automotive driver monitoring market growth during the forecast period.

Geography Overview

By geography, the global automotive driver monitoring market is segmented into Europe, North America, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive driver monitoring market.

• Europe is estimated to account for 35% of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In Europe, the wide use of advanced driver-assisted and safety systems in regionally manufactured automobiles is one of the key factors driving the market growth. In Europe, some of the major countries that are majorly contributing to the market growth include Germany, France, Italy, Spain, and the UK as these are leading countries in terms of demand and sales of luxury or premium vehicles, resulting in the most increased penetration rate of advanced safety systems. Also, factors such as enhanced economic conditions and stringent vehicle safety standards set by the European Commission are anticipated to fuel the automotive driver monitoring market growth in the region during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report

Automotive Driver Monitoring Market – Market Dynamics

Key Trends

The advances in driver-state monitoring systems are an emerging market trend. In the global automotive driver monitoring market, there is rapid technological advancement. Various major companies in the market are introducing their products and solutions with cutting-edge health monitoring. The advanced driver monitoring system uses facial recognition technology to identify the driver and monitor facial expressions is one of the main technological developments. For example, in January 2023, Harman, a Samsung subsidiary, launched its DMS, called Ready Care, which analyzes drivers' eye activity and mental state to analyze their level of cognitive distraction and thereby instruct the car to initiate personalized responses to reduce risky driving situations. Consequently, these advancements in technology are anticipated to fuel the automotive driver monitoring market growth during the forecast period.

Driver, Trend and challenges are the factor of market dynamics that states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this Automotive Driver Monitoring Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automotive driver monitoring market between 2023 and 2027
• Precise estimation of the size of the automotive driver monitoring market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the automotive driver monitoring market  across Europe, North America, APAC, South America, and the Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about companies 
• Comprehensive analysis of factors that will challenge the growth of automotive driver monitoring market  companies 

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports: 

The automotive advanced driver assistance system (ADAS) market size is estimated to grow at a CAGR of 9.3% between 2022 and 2027. The market size is forecast to increase by USD 25,673.24 million. This automotive advanced driver assistance system (ADAS) market report extensively covers market segmentation by application (passenger cars and commercial vehicles), technology (AEBS, TPMS, PAS, LDWS and others), and geography (Europe, North America, APAC, South America, and Middle East and Africa). One of the key factors driving the ADAS market growth is the decline in sensor prices.

The Global Automotive ADAS Sensors Market size is estimated to grow by  USD 49,153.06 million between 2022 and 2027 accelerating at a CAGR of 23.33%. This research report extensively covers market segmentation by Product (radar sensor, /image sensor, ultrasonic sensor, infrared sensor, and lidar sensor), Application (passenger vehicle and commercial vehicle), and Geography (Europe, North America, APAC, South America, and Middle East and Africa). ON Semiconductors has designed a modular automotive reference system (MARS) that can mix and match /image sensors, lenses, /image signal processors, and communication protocols as per the customer's requirements is notably driving the market growth.

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by Application

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED