A recent report published by Infinium Global Research on driver safety systems market provides in-depth analysis of segments and sub-segments in global as well as regional driver safety systems market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional driver safety systems market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global driver safety systems market. According to the report the global driver safety systems market is projected to grow at CAGR of 7.2% over the forecast period of 2018-2024.
Driver safety systems help assist the driver in the driving process. They are designed with a safe human-machine interface that increases the car safety and more generally the road safety. A growing number of modern vehicles have advanced driver-assistance systems such as electronic stability control, anti-lock brakes, lane departure warning, adaptive cruise control, and traction control. Driver advanced safety systems play a key role in reducing the number of a vehicle collision on the road. There has been a fall of 10% in the number of road accidents over the recent five years owing to the improvement in the technology to keep the drivers safer. As stated in the accident analysis and prevention journal if every car were equipped with blind-spot monitoring, lane departure warnings and forward collision warnings the technologies could prevent the severity of as many as 1.3 million crashes annually including 133,000 damage crashes and 10,100 deadly crashes.
The increase in adoption of ADAS (advance driver assistance systems) drives the acceptance of driver safety system in all car types including the compact mid-sized and commercial vehicle. In addition, increasing demand for devices with responsive and approachable features to improve the safety of the drivers and passengers among the car buyers is strengthening the growth of the driver safety systems market. The development of driver assistance systems is governed and regulated by international safety standards, such as IEC-61508 and ISO-26262, as these systems depend on electronics for their functionality. Drivers whose vehicles have ADAS technology stand to benefit from improved perceptibility, better advance warnings, the ability for a vehicle to take control in an emergency situation and more inclusive tools for driving in bad weather or poor road conditions. However, pricing of the safety systems is curtailing the growth of the driver safety systems. Furthermore, various initiatives are taken by the government for the improvement of safety of passenger as well as the reduction of accidents. Thus, the car makers are pressurized to adopt the safety systems owing to the growing focus of the government with regards to the safety of drivers and passengers. This, in turn, is anticipated to open several growth opportunities for the key players for the driver safety systems market over the years to come.
Among the geographies, North America dominated the global driver safety systems market. The growth in the North America region is due to initiatives such as the national highway traffic safety administration (NHTSA)'s safe car Project has helped to expressively drive the acceptance of ADAS systems in domestic vehicles of North America. Moreover, the key safety goal of the US federal motor carrier safety administration (FMCSA) is to reduce the number and severity of commercial motor vehicle (CMV) crashes. Furthermore, Asia-Pacific region is also significantly emerging and making its footprints in the global driver safety system market. The growing markets of India and China are anticipated to control the Asian driver safety systems market.
The report on global driver safety systems market covers segments such as technology, sales channel and vehicle type. On the basis of technology the global driver safety systems market is categorized into facial expressions, heart rate monitoring, steering angle sensor, lane departure system, and eye tracking. On the basis of sales channel the global driver safety systems market is categorized into OEM and aftermarket. On the basis of vehicle type the global driver safety systems market is categorized into heavy commercial, commercial vehicle, luxury, compact and premium.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2016-2024.
The report provides profiles of the companies in the global driver safety systems market such as Infineon Technologies AG, Denso Corporation, Valeo S.A, Robert Bosch GmbH, Continental AG, Smart Eye AB, Seeing Machines and Magna International Inc.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global driver safety systems market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of driver safety systems market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the driver safety systems market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the driver safety systems market to understand the present and future trends in this market and formulate their strategies accordingly.
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