Driver Monitoring Systems Market Size Worth USD 2.39 Billion By 2027 | CAGR of 10.6% Emergen Research
- The surging demand for road safety in automobiles pertaining to driver activeness and stringent government regulations related to driver monitoring will boost the Driver Monitoring Systems market.
- Market Size – USD 1.06 Billion in 2019, Market Growth - CAGR of 10.6%, Market Trends – Growing demand for in-vehicle driver monitoring solutions.
VANCOUVER, BC, Oct. 20, 2020 /PRNewswire/ -- The Global Driver Monitoring Systems Market is projected to reach USD 2.39 billion in 2027. Continual development in automotive electronics sensors application and technology, rising concerns for road accidents, increasing demand for automation in automobiles, and drivers' consistency while in a long journey, especially for commercial vehicles, are boosting the demand for Driver Monitoring Systems Market.
Higher usage of components like camera and sensors, which monitor the alertness of the driver as well as checks their level of vigilance, health, current state, and warns the driver about signs of drowsiness or distraction, are the primary growth propellers for this market. Additionally, the growing usage of DMS for driver identification and control functions using the eyes will contribute to more safety and better intuitive use of the new generation of driver assistance functions and help the market grow remarkably.
The need for driver monitoring is rising not only in the passenger vehicle segment but also in the commercial vehicle segment, wherein challenges are more significant as compared with the passenger segment. Apart from all of the above-mentioned concerns, drivers are also working long hours, many a time more than what is advised or specified.
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Further key findings from the report suggest
- An Israel-based company called Eyesight Technologies makes use of embedded computer vision and artificial intelligence (AI) solutions in order to provide the driver monitoring capabilities. The company's driver monitoring solution called 'Drive Sense' tracks down the head position of the driver, eye blink rate, gaze vector, and other visual attributes in order to detect distraction or signs of drowsiness of the driver.
- The driver monitoring system (DMS) market is anticipated to register significant growth in the Asia Pacific region. The increasing incidence of road accidents and the rise in the popularity and demand for luxury cars are expected to generate new opportunities in the Asia Pacific market. Moreover, the technological developments in automobiles, ambitious countries such as Japan, India, and China would foster the demand for driver monitoring systems (DMS) in the region.
- In January 2019, Eyesight Technologies, a company dealing in AI computer vision, demonstrated its Driver Sense technology. This solution was awarded the Excellence award for promoting trade relations between Israel and Japan.
- Key players in the market include Faurecia, Valeo, Tata Elxsi, Bosch, Johnson Controls Inc, Aptiv PLC, Visteon, Continental, Magneti Marelli, and Denso, among others.
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