The North America Driver Monitoring Systems Market would witness market growth of 8.9% CAGR during the forecast period (2023-2029).
Businesses are incorporating diverse features and technologies into their vehicles to enhance consumer comfort and drive sales growth. Furthermore, the progression of electronic components, including sensors and smartphones, bolstered by wireless communication and cloud systems, enhances environmental data and heightens consumer safety. As a result, the implementation of advanced technology in automobiles has significantly boosted sales in the automotive industry.
The incorporation of convenient features such as hands-free calling and navigation in the vehicle can lead to driver distraction. Driver monitoring systems can significantly enhance driver and vehicle safety. Certain iterations of the DMS systems utilized steering wheel sensors, while others relied on time-of-flight technology to measure the driver's head position. In light of the rapid technological advancements, DMS systems have undergone significant changes.
The growth of Driver Monitoring Systems will be extrapolated by ongoing developments in autonomous and connected cars, as well as technological advancements in advanced driver-assistance systems (ADAS). As a result, the automotive industry is experiencing a growing demand for Driver Monitoring Systems designed by leading players in the market. These systems offer futuristic designs, higher levels of vehicle automation, and improved vehicle efficiency and safety.
Motor vehicle accidents significantly contribute to fatalities in the United States, particularly for individuals aged 1-54. Additionally, they are the primary cause of non-natural deaths for American citizens residing or traveling overseas. Recent research from the CDC reveals that the U.S. experienced more excellent rates of fatalities due to motor vehicle accidents than other high-income nations in 2019. The growing incidents of road accidents in the region will provide growth opportunities for the driver monitoring systems as with their implementation, such accidents can be decreased significantly, which will increase their adoption and surge market expansion in the region.
The US market dominated the North America Driver Monitoring Systems Market by Country in 2022; thereby, achieving a market value of $686.8 million by 2029. The Canada market is experiencing a CAGR of 11.4% during (2023 - 2029). Additionally, The Mexico market would exhibit a CAGR of 10.4% during (2023 - 2029).
Based on Vehicle Propulsion, the market is segmented into ICE Vehicles and Electric Vehicles. Based on Sales Channel, the market is segmented into OEM and Aftermarket. Based on Component, the market is segmented into Sensors, Cameras and Others. Based on Type of Monitoring, the market is segmented into Driver State Monitoring and Driver Health Monitoring. Based on Vehicle type, the market is segmented into Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Driver Monitoring Systems Market is Projected to reach USD 3.4 Billion by 2029, at a CAGR of 9.6%
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
By Vehicle Propulsion
By Sales Channel
By Component
By Type of Monitoring
By Vehicle Type
By Country
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