According to a new study by Fact.MR, the driver alert systems market is expected to rise at a CAGR of over 14% between 2020 and 2030. Growing focus on reducing accidents, combined with innovation in technology continue to create opportunities in this market.
Recent advancements in sensor technology, coupled with the surge in demand for advanced driver assistance systems (ADAS) is also providing impetus to the growth of the market.
Growing Focus on Safety
The surging demand for improved vehicle and road safety has made driver alert systems highly sought-after in the automotive sector. Driver alert systems offer features such as disaster alert, weather alert, road safety alert. An increasing number of small to medium vehicles come in-built with advanced features such as driver alert systems. These features are more common in luxury cars.
Advent of New-Age Sensor Technology Bolstering Growth
The new-age sensor technology is being widely used in intelligent transportation system including various driver alert systems such as weather alert, road safety alert, driver fatigue alert, and others.
As a result, the driver alert systems are gaining traction with the rising demand from the automotive sector. Advancements in sensor technology has resulted in development of advanced transportation safety solutions including driver alert systems. Sensor technology is used in a wide range of driver alert systems in order to minimize the risks of road accidents.
It is used in steering pattern monitoring, driver eye/face monitoring, and vehicle position monitoring in order to prevent accidents due to drunk driving, road hazards, driver fatigue, and others all over the world.
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COVID-19 Impact on Driver Alert Systems Market
The outbreak of novel coronavirus resulted in decelerating growth of the driver alert systems market due to non-operational manufacturing units during lock down, unavailability of sufficient man power, disruptive supply chain, shutting down of logistics sectors, economic constraints, scarcity of raw materials, and decrease in demand.
The automotive sector has faced restraints due to the COVID-19 pandemic during the first half of 2020, resulting in reduced demand for driver alert systems all over the world.
Driver Alert Systems Market Insights by Component
Sensors are increasingly used in diverse driver alerts systems to monitor and alert about potential risks starting from weather to road risks. Component-wise, sensors are dominating the global driver alert systems market due to their diverse applications in driver alert systems. Sensors are capable of detecting various environmental conditions, starting from temperature to road conditions, which are crucial part of generating timely alert.
With the increasing cases of road accidents, the adoption of sensors has been increasing. This is intended to provide effective driver alert system solutions for passenger as well as commercial vehicles. According to Fact.MR, sensors are expected to remain dominant followed by cameras and other components during the forecast period.
Driver Alert Systems Market Insights by Alert
According to Fact.MR, steering and seat vibration alert is presently dominant in terms of alert followed by sound alerts and others.
This type of alert system is mainly used in the steering wheel and seat. In this system, steering wheel produces vibration in order to notify the driver, when a lane change is detected without indication. In the same way the seats can generate vibrations to alert the driver when the lanes are changed too slowly or there is drowsiness or fatigue in the driver.
This kind of alert is highly capable of preventing road accidents due to drunk driving or drowsiness as well as road hazards and is therefore leading the global market in the alert-wise segments.
Driver Alert Systems Market Insights by Type
Type-wise, fatigue is dominating the river alert systems market. Sensors, cameras, and other equipment are used for early detection of signs of fatigue in driver to prevent road accidents.
This type of driving alert system is capable of detecting the warning signs such as yawning, drowsy eyes, very slow or rapid steering movements, and others in order to generate timely alerts.
Driver Alert Systems Market Insights by Vehicle
Presently, passenger vehicles is dominating the market in terms of vehicle followed by various kind of commercial vehicles such as light commercial vehicles, heavy commercial vehicles, buses & coaches, and others.
The rising demand for passenger is resulting into higher adoption of driver alert systems in small to luxury vehicles. Driver safety and connectivity solutions are becoming popular among the passenger vehicles. This is expected to aid in the expansion of the overall the driver alert systems market.
Driver Alert Systems Market Insights by Supplier
Original equipment manufacturers (OEMs) re currently leading the driver alert systems market among suppliers.
EMs offer a diverse types of driver alert systems such as attention assist, driver monitoring system, driver alert control, fatigue detection system, and others as per the requirement.
Some of the leading OEMs are Ford, Toyota, Mercedes-Benz, Volvo, and others whose presence is aiding in overall market growth.
Driver Alert Systems Market Insights by Propulsion
Presently, gasoline is leading the market in terms of propulsion. Other segments present within the category are diesel, hybrid, and electric.
Gasoline is available in abundance, it is highly efficient and cost effective, and is considered suitable for diverse range of applications starting from small passenger vehicles to large commercial ones.
Presently, gasoline is the most widely used propulsion for driver alert systems such as drowsiness, drunk driving, fuel saving, and others.
At present, Asia Pacific is leading the global market, followed by Europe and North America. Rising demand for premium and luxury vehicles coupled with the increasing production of automated vehicles is enabling growth in the Asia Pacific driver alert systems market. According to Fact.MR, the Asia Pacific market will sustain its dominance through the forecast period.
The presence of well-developed manufacturing units and rapidly expanding automotive sector has helped Europe emerge as the second-leading market for driver alert system in the world. Surging demand in countries such as the U.K, Mexico, Italy, and others is enabling growth in the region.
North America is the third-leading market. The presence of advanced automotive infrastructure and adoption of digital advancements have resulted in expansion of the North America driver alert systems market. The demand for passenger and electric vehicles witnessed in countries such as U.S, Canada, and others is aiding to the growth of North America market.
Driver Alert Systems Competitive Landscape
The key companies of driver alert systems market are-
- Continental AG
- STONAKM CO., LTD.
- Magna International Inc.
- Daimler AG
- DENSO Corporation
- Infineon Technologies AG
- HELLA GmbH & Co. KGaA
- Robert Bosch GmbH
- Ford Motor Company
- Johnson Controls Inc.
- Magneti Marelli S.p.A.
- Nissan Motor Co., Ltd.
- Tata Elxsi
- Valeo SA
- Visteon Corporation
- ZF Friedrichshafen AG.
The market for driver alert system is a highly competitive one. Market players are therefore adopting various strategies to gain competitive edge. Some of them are focusing on product launches to gain traction.
For instance, Continental AG has launched their advanced driver alert system Turn Assist System equipped with short range radar in order to detect and send alert regarding movement and speed more precisely to protect cyclists and pedestrians in the current year.
Delphi has launched their new ADAS Kit for driver safety alert in November, 2020 to expand their diagnostic capability in order to provide more advanced driver alert system solutions-. Their modular ADAS kit adds static and dynamic calibration of Advanced Driver Assistance Systems (ADAS) to Delphi Technologies’ existing suite of automotive diagnostic tools.
The rising demand for advanced driver assistance systems (ADAS), has been helping the driver alert systems market to gain momentum. Leading car-makers are introducing new-age sensor technologies in their vehicles to offer efficient driver safety solutions. This is further creating growth opportunities for the driver alert systems market.
Driver Alert Systems Market – Scope of the Report
Fact.MR has published an exclusive forecast report on the driver alert systems market from 2020 to 2030. The foremost objective of this report is to pitch insights on the market scenario, demand generators, and technological advancements in driver alert systems market. Also, the study addresses key dynamics expected to diversify the sales and future prominence of the market.
The report begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the driver alert systems market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the driver alert systems market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with the key buying factors for driver alert systems.
Driver Alert Systems Market - Scope of the Report
A recent study by Fact.MR on the driver alert systems market offers a 10-year forecast from 2020 to 2030. The study analyzes crucial trends that are currently determining market growth. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players associated with the manufacturing of driver alert systems. The study also provides the dynamics that are responsible for influencing future status of the driver alert systems market over the forecast period.
A detailed assessment of the driver alert systems value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the driver alert systems market, along with their product portfolios, enhances the reliability of this comprehensive research study.
Driver Alert Systems Market: Report Summary
The study offers a comprehensive analysis on diverse features, including demand, product developments, revenue generation, and sales in the driver alert systems market across the globe.
A comprehensive estimate on the driver alert systems market has been provided through an optimistic as well as a conservative scenario, taking into account the sales during the forecast period. Price point comparison by region with global average price is also considered in the study.
Driver Alert Systems Market – Segmentation
Fact.MR’s research study assesses the global driver alert systems market in terms of component, alert, type, vehicle, supplier, propulsion, and region. This report presents extensive market dynamics and trends associated with different segments of the market and their influence on the growth prospects of the global driver alert systems market.
Key Questions Answered in Fact.MR’s Driver Alert Systems Market Report
- Which are the most lucrative markets for driver alert systems?
- Which factors will impact driver alert systems market growth?
- How will changing trends impact the strategy of market players?
- How can market players capture the low-hanging opportunities?
- Which companies are leading the driver alert systems market?
- What are the winning strategies of stakeholders in driver alert systems market?
Driver Alert Systems Market: Assessment on Regional Segments
Key sections have been elaborated in the driver alert systems market report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic and business environment outlook), which are expected to have a momentous influence on the growth of the driver alert systems market during the forecast period.
Country-specific valuation on demand for driver alert systems market has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
Driver Alert Systems Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the driver alert systems market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the driver alert systems market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the driver alert systems market report as a primary resource.
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