Global Driver Monitoring Systems Market Size, Share & Industry Trends Analysis Report By Vehicle Propulsion, By Sales Channel (OEM and Aftermarket), By Component, By Type of Monitoring, By Vehicle type, By Regional Outlook and Forecast, 2023 - 2029
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Get in-depth analysis of the COVID-19 impact on the Driver Monitoring Systems Market
Market Report Description
The Global Driver Monitoring Systems Market size is expected to reach $3.4 billion by 2029, rising at a market growth of 9.6% CAGR during the forecast period.
A safety feature in cars called the Driver Monitoring System (DMS), often referred to as the Driver State Sensing (DSS) system, aids in preventing accidents brought on by driver weariness. The DMS system employs multiple cameras to monitor the driver's eyes and alert the driver if their attention level is diminished. This product incorporates a driver-facing camera that is equipped with infrared LEDs to detect the driver's face and eyes, even in low-light conditions or if the driver is wearing sunglasses. In addition, the DMS system can detect driver attentiveness by monitoring engagement in different activities such as drinking, eating, using a cell phone, and more.
The demand for safety features, including driver monitoring systems, parking assistance, lane departure warnings, collision avoidance systems, traction control, tire pressure monitors, electronic stability control, airbags, and telematics, is growing due to the rise in road accidents globally. Additionally, it has been noted that there has been a significant rise in fatalities resulting from traffic accidents.
Teenagers have a higher incidence of fatal road traffic injuries. The growing need for safety features in automobiles is driven by these factors. Automotive manufacturers are innovating and implementing safety features to fulfill customer demands. The growth of the driver monitoring system market is driven by the high demand for safety features.
Governments globally have mandated the installation of safety systems in vehicles within specified timeframes. For example, governments mandate the installation of technologies such as drowsiness monitoring systems, lane departure systems, and driver monitoring systems in vehicles. Additionally, airbags, seat belts, child safety systems, pedestrian safety systems, and other safety features are required to be present in vehicles.
COVID-19 Impact Analysis
The driver monitoring system market has been adversely affected by the COVID-19 pandemic due to limitations on commuting, which is anticipated to have a detrimental effect on the financial performance of market participants. The economic impact has led market participants to develop strategic cost-saving plans. These factors are expected to contribute to the market's growth within the forecast timeframe. Thus, the market is expected to experience growth as restrictions ease and demand for these systems increases due to a rise in road accidents. This growth is expected to help the market recover from initial losses.
Market Growth Factors
The automotive safety systems are experiencing an increase in demand
Automotive safety systems are essential devices that aim to reduce the likelihood of injuries, prevent accidents, and lessen the effects of collisions. The systems are engineered to function automatically or require drivers to activate them per their requirements. Electric vehicle manufacturers must implement driver monitoring systems that can work with autopilot mode to ensure safety. The automotive safety systems industry is witnessing a surge in the popularity of technological advancements as a prominent trend. The automotive sector emphasizes incorporating intelligent and secure safety systems in automobiles to enhance safety across various terrains and environments.
Increase in surveillance in transportation and logistics industries
The increasing applications of driver monitoring systems have been driven by the growth of the industrial sectors, logistics, and transportation sectors. Fleet management solutions can gather, store, monitor, analyze, report, and export data through the implementation of driver monitoring systems. The driver's performance can be monitored to ensure compliance with safety regulations and legal requirements, including measures to prevent distracted driving, promote driver health, and reduce the risk of drunk driving incidents.
Market Restraining Factors
A highly complex system
The complexity of Driver Monitoring Systems is increasing due to the growing number of monitoring parameters and the need for precise driver state detection. Minimizing the occurrence of false positives and false negatives is a crucial objective in business. The primary technical challenge associated with implementing vision based DMS technology is its ability to perform consistently in varying lighting conditions, which can result in overexposed or underexposed images. The validation and development of DMS in the automotive industry pose significant challenges for stakeholders due to heightened complexity. Moreover, the Driver Monitoring System is a new concept; hence, the awareness of this system among the general public is quite limited.
Vehicle Propulsion Outlook
By vehicle propulsion, the driver monitoring systems market is classified into ICE vehicles and electric vehicles. The ICE vehicles segment witnessed the largest revenue share in the driver monitoring systems market in 2022. This is due to the fact that driver-monitoring systems can identify signs of drowsiness or lack of attention. As these systems continue to develop, they will integrate into a comprehensive interior sensing platform that offers personalized features, enhanced safety measures, entertainment options, and the ability to connect with smart home systems. The Driver Monitoring System (DMS) can recognize the driver and customize the temperature, seat, side mirror, and other settings according to their preferences.
Sales Channel Outlook
On the basis of sales channel, the driver monitoring systems market is segmented into OEM and aftermarket. The aftermarket segment acquired a prominent revenue share in the driver monitoring systems market in 2022. This is because the market for automotive-grade DMS software has grown due to the high number of trucks and buses on the roads globally. These solutions are available as plug-and-play options. The installation process is simple, and the product enables the vehicle to detect driver fatigue, lack of focus, and other factors that enhance road safety for each installation providing growth opportunities for the segment.
Based on the component, the driver monitoring systems market is bifurcated into cameras, sensors and others. The sensors segment registered the highest revenue share in the driver monitoring systems market in 2022. This is due to the increased demand for DMS systems, which serve as crucial support systems for human-machine interactions (HMI) concerning active safety (ADAS) and autonomous driving. Additionally, there is a growing need for user interface improvements to create intelligent dashboards and related HMI in vehicle settings, which are becoming overwhelmed with information.
Type of Monitoring Outlook
On the basis of type of monitoring, the driver monitoring systems market is divided into driver state monitoring and driver health monitoring. The driver health monitoring segment procured a substantial revenue share in the driver monitoring systems market in 2022. This is because these systems aim to reduce the occurrence of road accidents through the use of smart glasses and user-friendly IOT devices. The IOT-based health monitoring system ensures that the driver's blood pressure, glucose, and pulse rate are constantly monitored. If any issues are detected, the system will promptly send an alert message to the appropriate hospital.
Vehicle Type Outlook
Based on vehicle type, the driver monitoring systems market is segmented into passenger cars, light commercial vehicles and heavy commercial vehicles. The passenger cars segment dominated the driver monitoring systems market with maximum revenue share in 2022. This is due to the rise in government regulations regarding driver safety, and the growing consumer demand for convenient and luxurious vehicle features has contributed to this trend. Driver monitoring systems are an essential component in passenger vehicles. The implementation of driver monitoring systems in passenger vehicles can significantly reduce the occurrence of accidents.
|Market size value in 2022||USD 1.8 Billion|
|Market size forecast in 2029||USD 3.4 Billion|
|Historical Period||2019 to 2021|
|Forecast Period||2023 to 2029|
|Revenue Growth Rate||CAGR of 9.6% from 2023 to 2029|
|Number of Pages||304|
|Number of Table||505|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling|
|Segments covered||Vehicle Propulsion, Sales Channel, Component, Type of Monitoring, Vehicle Type, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-wise, the driver monitoring systems market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe region generated the highest revenue share in the driver monitoring systems market in 2022. Europe has prioritized road safety and is a leader in this area. The government in the region are working to achieve zero traffic accidents in the region. As a crucial safety component, a driver Monitoring Solution has been recognized. Distracted driving accidents have been a persistent issue in Europe. Road accidents result in significant loss of life, making DMS a crucial solution for enhancing driver attentiveness. In addition, the DMS stakeholders will have the chance to work in an established market and capitalize on significant opportunities, which will surge the market growth in the region.
Free Valuable Insights: Global Driver Monitoring Systems Market size to reach USD 3.4 Billion by 2029
KBV Cardinal Matrix - Driver Monitoring Systems Market Competition Analysis
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Intel Corporation is the forerunner in the Driver Monitoring Systems Market. Companies such as Renesas Electronics Corporation, NXP Semiconductors N.V., and ZF Friedrichshafen AG are some of the key innovators in Driver Monitoring Systems Market.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Continental AG, Denso Corporation, Robert Bosch GmbH, NXP Semiconductors N.V., Panasonic Holdings Corporation, ZF Friedrichshafen AG, Intel Corporation, Hitachi, Ltd., Valeo SA and Renesas Electronics Corporation
Recent Strategies Deployed in Driver Monitoring Systems Market
» Partnerships, Collaborations and Agreements:
- Sep-2022: Continental Automotive Singapore Pte Ltd, a subsidiary of Continental AG has signed an agreement with Go-Ahead and Nanyang Technological University to develop and improve the driving safety systems of Go-Ahead's buses. Go-Ahead is a provider of passenger transportation services. The purpose of the partnership is to find out the root causes of risks through increasing descriptive analytics in predictive capabilities, next level, and building diagnostics.
- Sep-2022: Intel teamed up with Cipia, an Israel -based provider of in-cabin sensing solutions. The collaboration focuses on enhancing road safety at large. Intel will Integrate Cipia's driver monitoring system into its SaaS solutions.
- Jun-2021: Valeo came into partnership with Navya, a France-based company operating in the automotive industry. The partnership enables Valeo to test its latest ADAS technologies and focuses on various components including ECUs, Cameras, sensors, and AI software.
- May-2021: Continental Engineering Services (CES) entered into a collaboration with TriEye, an Israel-based developer of short-wave infrared imaging systems. The partnership aims at inspecting how SWIR can benefit driver monitoring systems. The integration of TriEye’s SWIR sensing technology is advantageous to CES's driver monitoring and interior sensing solutions.
» Product Launches and Product Expansions:
- Jan-2023: NXP Semiconductors released advanced automotive SAF85xx one-chip family for autonomous driving and ADAS. The new family of radars features combined multi-core radar processors and radar transceivers. The one-chip family facilitates 4D sensing for front and corner radars which are used in ADAS applications.
- Jun-2022: NXP Semiconductors N.V. launched S32Z and S32E processor families. The S32Z is useful for zonal control and safety processing. The S32E is useful for smart actuation and electric vehicle control.
- Oct-2021: NXP unveiled Real-Time Drivers (RTD) software for its S32 processor series. The software features a High-level interface for AUTOSAR and a low-level interface for non-AUTOSAR, ISO 26262 safety compliance up to ASIL D AUTOSAR 4.4 including multi-core and security support Comprehensive IP coverage via AUTOSAR standard and complex device drivers Configurable using NXP’s S32 Configuration Tool or AUTOSAR partner toolchains.
- Jul-2021: Renesas has launched a new series of R-car SoCs. The range of new SoCs includes six new chips. The new series of chips comes with the following features: Increased CPU performance, BOM cost reduction, Shortened and development duration.
- Mar-2021: Renesas introduced R-car V3H. The new updates are intended for systems built on R-Car V3H system-on-chip (SoC). Key features include programmable output voltage, dynamic voltage frequency scaling, and built-in support for R-Car V3H SoC.
» Acquisitions and Mergers:
- Oct-2022: Renesas completed the acquisition of Steradian, a semiconductor company that provides 4D imaging radar solutions. The acquisition enables Renesas to broaden its dominance in automotive segments, by cashing in on the acquired company's radar technology and engineering talent.
- Mar-2022: Bosch took over Atlatec, a 3D map manufacturing company that helps in automated driving. The acquisition will increase Bosch's proficiency in digital maps and make the company a full-service provider for automated driving.
» Business Expansions:
- Jan-2022: ZF expanded its business by launching Commercial Vehicle Solutions (CVS) division. The new division will focus on providing solutions for digitized transport. The new division will aid ZF in its growth strategy, and perfectly align with the company's Next Generation Mobility corporate strategy.
Scope of the Study
Market Segments Covered in the Report:
By Vehicle Propulsion
- ICE Vehicles
- Electric Vehicles
By Sales Channel
By Type of Monitoring
- Driver State Monitoring
- Driver Health Monitoring
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Continental AG
- Denso Corporation
- Robert Bosch GmbH
- NXP Semiconductors N.V.
- Panasonic Holdings Corporation
- ZF Friedrichshafen AG
- Intel Corporation
- Hitachi, Ltd.
- Valeo SA
- Renesas Electronics Corporation
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North America Driver Monitoring Systems Market Report 2023-2029
Europe Driver Monitoring Systems Market Report 2023-2029
Asia Pacific Driver Monitoring Systems Market Report 2023-2029
What would be the size of this Market by 2029?
The Market size is projected to reach USD 3.4 billion by 2029.
What are the key driving factors and challenges in this Market?
Increase in surveillance in transportation and logistics industries are driving the Market in coming years, however, A highly complex system restraints the growth of the Market.
What are the major top companies in the competitive landscape?
Continental AG, Denso Corporation, Robert Bosch GmbH, NXP Semiconductors N.V., Panasonic Holdings Corporation, ZF Friedrichshafen AG, Intel Corporation, Hitachi, Ltd., Valeo SA and Renesas Electronics Corporation
Which segment shows a high revenue share of this Market in 2022?
The Driver State Monitoring market is generating high revenue in the Global Driver Monitoring Systems Market by Type of Monitoring in 2022; thereby, achieving a market value of $2.9 billion by 2029.
Which segment is leading the Market in 2022?
The OEM market is leading the segment in the Global Driver Monitoring Systems Market by Sales Channel in 2022; thereby, achieving a market value of $2.8 billion by 2029.
Which region dominated the Market in 2022?
The Europe market dominated the Market by Region in 2022; thereby, achieving a market value of $1.1 billion by 2029.