According to a new study by Fact.MR, the driver alert systems market exceeded US$ 27 Bn in 2020. Growing focus on reducing accidents, combined with innovation in technology continues 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 market. Fact.MR expects a threefold growth, pegging a value of US$ 101 Bn by 2031.
Key Points Covered in Driver Alert System Industry Analysis
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Driver Alert System Market and How to Navigate
- Recommendation on Key Winning Strategies
Driver Alert System Revenue Analysis 2016-2020 in Comparison to Future Outlook 2021-2031
As per Fact.MR’s report, from 2016 to 2020, the driver alert system industry expanded at around 10% CAGR, surpassing a market value of US$ 27 Bn by the end of the aforementioned period.
Manufacturers of driver alert systems are focusing on understanding the well-being of drivers while they are driving vehicles. Thus, to avoid road accidents due to fatigue and drowsiness, cameras and sensors are used on a large scale.
Due to the aforementioned factors, the driver alert system industry is expected to exceed US$ 101 Bn by registering a staggering double digit of CAGR of 14% by the end of the assessment period.
Mounting Concerns Regarding Road Safety Stimulating Uptake of Driver Alert Systems?
The World Health Organization (WHO) has stated that nearly 1.3 million people succumb to road accidents annually. It further identifies that road injuries among leading causes of deaths among people aged between 5 and 29 years. Furthermore, road traffic crashes cost most countries 3% of their GDP. To prevent such losses, governments are enforcing strict regulations aimed at improving road 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 and road safety alerts respectively. 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.
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How are New-Age Sensor Technologies Widening Driver Alert Systems Adoption?
The new-age sensor technology is being widely used in intelligent transportation systems 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.
Why is Asia Attracting Driver Alert System Manufacturers?
At present, Asia is leading the global market. Rising demand for premium and luxury vehicles coupled with the increasing production of automated vehicles in China and India is enabling growth in the Asian market for driver alert systems.
Furthermore, growth is being fuelled by the rising popularity of autonomous vehicles. For instance, in India, numerous start-ups are emerging which offer these vehicles. Thus, according to Fact.MR, the region will sustain its dominance by accumulating more than 45% of market share through the forecast period.
Why is the Demand for Driver Alert Systems Increasing in Europe?
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. Continuous research and development for safety while driving is playing a crucial role for the development of driver alert systems.
Surging demand in countries such as the U.K, Italy, and others is enabling growth in the region. Thus, according to Fact.MR, Europe is expected to possess more than 35% of market share in the assessment period.
What Growth Prospects Abound in North America?
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. In addition, the government of the region is emphasizing on safety measure while driving.
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. This, in turn has affected the sales of driver alert systems positively. Thus, according to Fact.MR, the North America is expected to hold 40% of market share in the sales indicator period.
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Why are Driver Alert Sensors Gaining Popularity?
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. According to Fact.MR, sensors are expected to remain dominant by accumulating more than 40% market share followed by cameras and other components during the forecast period.
How is Steering and Seat Vibration Gaining Traction?
According to Fact.MR, steering and seat vibration alert is presently dominant in terms of alert followed by sound alerts and others. A CAGR of 12% is anticipated for this segment in the long-run forecast period.
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.
Why are Passenger Vehicles Key Beneficiaries of Driver Alert Systems?
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. According to Fact.MR, passenger vehicle driver alert systems will capture nearly 45% revenue.
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.
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Market size value in 2021
|USD 27 Billion|
Market forecast value in 2031
|USD 101 Billion|
|CAGR of 14% from 2021 to 2031|
|Historical Data Available for||2016-2020|
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered
- Driver Alert Sensors
- Driver Alert Cameras
- Other Driver Alert Systems
- Driver Alert Systems for Steering and Seat Vibration
- Driver Alert Systems for Sound Alerts
- Driver Alert Systems for Other Alerts
- Fatigue Driver Alert Systems
- Drowsiness Driver Alert Systems
- Drunk Driving Driver Alert Systems
- Driver Alert Systems for Others
- Driver Alert Systems for Passenger Vehicles
- Driver Alert Systems for Commercial Vehicles
- Buses & Coaches
- Driver Alert Systems Sales via OEMs
- Driver Alert Systems Sales via Aftermarket
- Gasoline propelled Driver Alert Systems
- Diesel propelled Driver Alert Systems
- Hybrid propelled Driver Alert Systems
- Electric propelled Driver Alert Systems
- FAQs -
As of 2020, the market for driver alert system reached nearly US$ 27 Bn
The driver alert system industry is expected to surpass a CAGR of 14% from 2021-2031.
The driver alert system market is expected to reach nearly US$ 101 Bn by 2031
From 2016 to 2020, driver alert systems demand surged at a staggering 10% CAGR
Driver safety and advanced technology are the key trends driving driver alert system sales.
The driver alert system industry is expected to hold market value around 45% throughout Asia.
The driver alert system industry is expected to hold market value around 40% throughout North America
The driver alert system industry is expected to hold market value around 35% throughout Europe
Sensors will be the dominant driver alert system components, capturing 2/5th of global demand
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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