The driver monitoring system market is expected to grow at a promising CAGR of 10.8% during the forecast period.

Driver Monitoring System Market will experience significant growth during forecast period

Amayra Shah

The Driver Monitoring System (DMS) market is growing at an unprecedented rate, fueled by the rising demand for advanced driver assistance systems (ADAS) and the increasing number of road accidents caused by distracted driving. Early versions of DMS systems depended on steering wheel sensors, whereas others relied on time-of-flight technologies to determine the driver's head position. MS systems have undergone significant alterations in recent years because of technology improvements.

 is expected to grow at a promising CAGR of 10.8% during the forecast period.

DMS technology is designed to monitor driver behavior, alert the driver in case of distraction or drowsiness, and take control of the vehicle in case of emergency. The system uses various sensors such as cameras, infrared sensors, and other biometric sensors to detect the driver's eye movement, facial expressions, and body posture, among others. The system analyzes this data in real-time and alerts the driver or takes action to prevent accidents.

https://www.stratviewresearch.com/Request-Sample/3146/driver-monitoring-system-market.html#form

The DMS market is segmented into different types based on the technology used, such as cameras, sensors, and biometric systems. Among these, the camera-based DMS is expected to dominate the market during the forecast period. The camera-based system is cost-effective and provides better accuracy in detecting driver behavior compared to other technologies.

The market is bifurcated into driver state monitoring and driver health monitoring. 

Driver state monitoring is likely to remain

the more utilized segment of the market in the foreseen future.

 As many accidents occur on roads due to drivers’ lack of concentration, governments of various countries are making efforts to reduce the number of accidents on the road by incorporating driver state monitoring systems. This is a major factor which is expected to fuel the growth of the segment in the coming years.

The market is segmented as interior cameras, sensors, and other components. The 

sensor’s segment is expected to remain the most preferred component type during the forecast period

. As technology progresses, additional sensors will be added to this system, and the MS sensor industry is expected to have a considerable market opportunity during the forecast period.  The Ford S-Max Concept, for example, has an ECG Heart Rate Monitoring Seat that continuously monitors and records the driver's heart rate. Max Concept also aids in the detection of heart attacks.

The market is segmented into hardware and software. Between these instrument types, 

the hardware segment is likely to remain the bigger demand generator for driver monitoring systems during the forecast period. 

The hardware sub-segment has a larger market share due to the increased number of DMS systems installed across various models by various OEMs across geographies. Cameras and sensors are among the key hardware systems employed by automotive manufacturers. Camera-based Driver Monitoring Systems (DMS) are a critical component of next-generation ADAS technologies. The automotive and transportation industries are increasingly employing MS to reduce distraction and drowsiness-related crashes.

Asia-Pacific is expected to remain the largest market for driver monitoring systems over the forecast period 

on account of the rise in the popularity and demand for luxury cars, as well as an increase in the number of traffic accidents, which is likely to create new opportunities in the Asia-Pacific’s market. Furthermore, technological advancements in automobile-oriented countries such as Japan, India, and China are expected to increase the demand for driver monitoring systems (DMS) in the region. Even though North America and Europe have dominated the vehicle market, the region's competitive automobile sector and expanding standard of living will accelerate and deliver continually rising growth in the coming years.

The key players in the DMS market include companies such as Robert Bosch GmbH, Aptiv PLC, Veoneer Inc., and DENSO Corporation, among others. These companies are investing heavily in R&D to develop innovative DMS technology and expand their market presence. For instance, in 2020, Aptiv PLC launched its new advanced DMS solution, which uses cameras and artificial intelligence (AI) to detect driver distraction and drowsiness.

The rising demand for advanced safety features and the increasing number of road accidents caused by distracted driving are the key drivers of the DMS market. The government regulations mandating the use of ADAS features in vehicles are also driving the market growth. For instance, in the US, the National Highway Traffic Safety Administration (NHTSA) has proposed a new rule that would require all new vehicles to have DMS by 2024.

In conclusion, the DMS market is expected to grow at a rapid pace in the coming years due to the increasing demand for advanced safety features and the rising number of road accidents caused by distracted driving. The market is dominated by camera-based DMS technology, and the passenger car segment is expected to dominate the market during the forecast period. The key players in the market are investing heavily in R&D to develop innovative DMS technology and expand their market presence. The government regulations mandating the use of ADAS features in vehicles are also driving the market growth.

0 comments