Driver Monitoring Systems (DMS) Market Will Witness Substantial Growth in the Upcoming years by 2028
The global Driver Monitoring System (DMS) market was valued at USD 1,184.1 Million in 2020 and is expected to grow at a rate of 10.5 % of CAGR during the forecast period of 2020 to 2028. The growth in the DMS market is majorly driven by factors like the development of autonomous and connected cars, growing need to reduce road accidents, as well as technological advancements in the overall automotive industry. The growth can also be attributed to increasing awareness and expectations about safe driving from the customers. Many governments around the globe are imposing stringent rules and regulations related to the safety of drivers, passengers and pedestrians. This factor will help the growth of the market over the forecasted period.
The system of the Driver Monitoring is based on components like the camera and sensors which monitor the alertness of the driver as well as checks his or her level of vigilance, health, current state. The motive of the driver monitoring system (DMS) is to warn the driver when he shows signs of drowsiness or distraction. Additionally, DMS is used for driver identification and control functions using the eyes. These developments will contribute to more safety and better intuitive use of the new generation of driver assistance functions. Though the requirement of the driver monitoring system (DMS) is bound to increase, the market is expected to face the headwinds from uncertainties in data protection, privacy concern, cyber security, infrastructural challenges in the adequate deployment of the DMS. Further regulatory compliance on capture and use of driver health monitoring systems may hamper the growth of the automotive driver monitoring system market over the forecast period.
Companies considered and profiled in this market study
Faurecia, Tata Elxsi, Aptiv PLC, Johnson Controls Inc, Magneti Marelli, Valeo, Continental, Bosch, Visteon, and Denso have been profiled in the report. Strategies like New product development, acquisitions, and mergers and partnerships are some of the major strategies being adopted by these market players in order to retain their positions in the market.
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The report on Global Driver Monitoring Systems (DMS) Market is an extensive study that provides crucial insights of the with respect to recent developments, product advancements, business expansions, and other key aspects of the. Moreover, it offers an extensive analysis of the industrial chain, pricing analysis, and value chain analysis along with assessment of the multiple crucial segments such as product types, end-use industries, and application spectrum of the Driver Monitoring Systems (DMS) market.
The report offers a comprehensive overview of the competitive landscape of the industry along with complete assessment of company profiles, R&D activities, production and manufacturing capacity, product portfolio, investment strategies, and expansion plans. The report also focuses on recent strategic initiatives in the industry including mergers and acquisitions, joint ventures, collaborations, corporate and government deals, product launches and brand promotions, and partnerships among others.
Monitoring Type Outlook (Revenue, USD Billion; 2018-2028)
- Driver State Monitoring
- Drowsiness & Fatigue Monitoring
- Drunk Driving Monitoring
- Driver Alertness monitoring
- Identity recognition monitoring
- Other Driver state monitoring
- Driver Health monitoring
- Blood pressure monitoring
- Body temperature monitoring
- Pulse rate monitoring
- Heart beat monitoring
- Other Driver health monitoring
- Component Outlook (Revenue, USD Billion; 2018-2028)
- Interior camera
- Biometric sensors
- Gas sensors
- Pressure mats
- Steering angle sensors
- Other sensors
- Other components
Instrument Outlook (Revenue, USD Billion; 2018-2028)
Vehicle type Outlook (Revenue, USD Billion; 2018-2028)
- Commercial vehicle
- Passenger vehicle
The automotive industry revenue has expanded significantly over the recent past and is expected to register robust revenue CAGR over the forecast period. Technological advancements in the automotive sector, rising sales of passenger cars and commercial vehicles are key factors fueling global Driver Monitoring Systems (DMS) market revenue growth. In addition, rising demand for luxurious cars and comfortable driving, increasing sales of electric vehicles owing to rising awareness about excess carbon emission are fueling growth. In addition, increasing adoption of autonomous cars due to rising number of road accidents, and rising demand for green vehicles are expected to boost growth going ahead. Growing shift towards hybrid and electric vehicles in order to reduce carbon emissions and mitigate global warming has significantly contributed to the revenue growth of the automotive sector. OEMs and automotive companies account for a significant share in the global.
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The key questions answered in the report:
- What will be the size and growth rate in the forecast year?
- What are the key factors driving the Driver Monitoring Systems (DMS)?
- What are the risks and challenges in front of the?
- Who are the key vendors in the Driver Monitoring Systems (DMS)?
- What are the trending factors influencing the shares?
- What are the key outcomes of Porter’s five forces model?
- Which are the global opportunities for expanding the Driver Monitoring Systems (DMS)?
Across the globe, different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa have been examined on the basis of productivity and manufacturing base. Researchers of this report highlight different terminologies of the Driver Monitoring Systems (DMS). This research report represents a 360-degree overview of the competitive landscape of the Driver Monitoring Systems (DMS). Furthermore, it offers massive data relating to the recent trends, technological advancements, tools, and methodologies. The research report analyzes the Driver Monitoring Systems (DMS) in a detailed and concise manner for better insights into the businesses. The research study has taken the help of graphical presentation techniques such as info graphics, charts, tables, and pictures. It provides guidelines for both established players and new entrants in the Driver Monitoring Systems (DMS). The detailed elaboration of the Driver Monitoring Systems (DMS) has been provided by applying industry analysis techniques such as SWOT and Porter’s five-technique. Collectively, this research report offers a reliable evaluation of the global to present the overall framework of businesses.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward-looking perspective on different factors driving or restraining growth
- It provides a six-year forecast assessed on the basis of how the is predicted to grow
- It helps in understanding the key product segments and their future It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of and by making in-depth analysis of segments
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