Global Driver Safety Market Analysis, Global Trends, Comprehensive Research Study, Development Status, Opportunities, Future Plans, Competitive Landscape and Growth by Forecast 2028

“Global Driver Safety Market Drivers, Trends, Product Developments, Applications, Market Growth Prospects, and Forecast 2019 – 2028” report has been recently created by the research team of MarketResearch.biz, which focuses on recent developments in driver safety systems, regional and country-wise markets, prominent players in the target market, etc. In order to offer a clear scenario about the global driver safety market, the report has been segmented and further sub-segmented on the basis of technology, vehicle type, sales channel, and region.

Driver Safety Market: Overview

Driver safety technologies are special integrated systems that are developed to ensure maximum safety of the automobile as well as its passengers. Driver safety technologies include a wide variety of devices and gadgets which offer computer communication, remote speed sensing, theft deterrence, geofencing capabilities, damage mitigation, and vehicle-to-vehicle communication, among other features. These technologies offer assistance to the drivers for a better operating experience and to avoid any life-threatening accidents.

Market Dynamics: Factors Impacting Growth Positively and Negatively

The increasing number of road accidents and stringent government regulations regarding driver safety are some of the major factors expected to drive the growth of the global driver safety market. Moreover, innovative and practical safety solutions such as driver alertness detection systems, electronic stability control (ESC), and others are some of the major factors expected to boost the growth of the driver safety market in the next few years. OEMs are focusing to develop solutions for driver safety such as lane departure warning systems, and steering angle sensors. In addition, growing demand for comfort and luxury cars and intense competition in the automotive sector, and demand for safety-related systems are some factors expected to create lucrative opportunities for manufacturers operating in the global driver safety market.

However, high cost is one of the major factors that could challenge the growth of the global driver safety market over the forecast period.

Segment Analysis:

By Technology:

Among the technology segments, the driver fatigue monitoring system segment is expected to account for a significant revenue share in the target market. The distraction monitoring system is projected to grow at a notable growth rate in the next 10 years in the target market.

By Vehicle Type:

Among the vehicle type segments, the passenger car segment is anticipated to contribute a major revenue share in the global driver safety market and is projected to maintain its dominance over the 10-year period.

By Sales Channel:

Among the sales channel segments, the OEM segment is anticipated to grow at a considerable CAGR over the 10-year period, owing to the rising number of manufacturers offering in-built safety systems.

Driver Safety Market: Region Analysis

The driver safety market in the Asia Pacific is expected to account for a major share of the target market in terms of revenue. This can be primarily attributed to the rising number of accidents and deaths caused by drowsiness or fatigue, and strict government regulations regarding driver and automobile safety.

In addition, growing awareness regarding safety solutions such as driver fatigue and distraction monitoring systems, along with increasing adoption of safety systems in the vehicle, especially in countries such as India and China, are factors expected to drive the growth of the APAC driver safety market.

The North American market is expected to hold the second-highest position in terms of revenue in the global driver safety market, due to increasing awareness regarding driver safety, strict traffic rules, and concerns regarding road safety among individuals.

In addition, the increasing number of vehicles, and early adoption of new technologies are other factors expected to boost the growth of the driver safety market in North America. For instance, The Department of Transportation and the National Highway Traffic Safety Administration (NHTSA) are working together in order to support the deployment of automated vehicle safety technologies. The markets in Latin America and Middle East & Africa are expected to grow at a moderate growth rate over the next few years.

Global Driver Safety Market Segmentation:

Segmentation by Technology:

• Driver Fatigue Monitoring System
  • Eye-Tracking/Blink-Monitoring
  • Facial Expressions/Head Movements
  • Heart Rate-Monitoring
• Distraction Monitoring System
  • Pressure/Angle Steering Sensor
  • Lane Departure System

Segmentation by Vehicle Type:

• Passenger Cars (Compact, Mid-sized, Premium, and Luxury)
• Commercial & Heavy Commercial Vehicles

Segmentation by Sales Channel:

• OEM
• Aftermarket

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa