NEW YORK, Oct. 6, 2016 /PRNewswire/ -- "Growing health and safety concerns and technological advancements in the automotive sector are expected to fuel the demand for driver safety systems for both, passenger cars and off-highway vehicles."
The driver safety market is projected to grow at a CAGR of 6.24%, to reach a market size of USD 3.20 billion by 2025. Key factors driving the growth of the driver safety market are increasingly stringent safety regulations and the rising demand for luxury and comfort in the passenger car segment. Factors restraining the growth of the driver safety market include the high cost of the system and its complex nature.
"Distraction monitoring systems constitute the largest segment of the passenger car driver safety market"
The adoption of distraction monitoring systems in passenger cars is expected to increase gradually and shift from the high-end passenger car segment to the mid segment. This can be attributed to the increasing pressure from regional governments to include safety systems for drivers and passengers to prevent fatalities caused by driver drowsiness and fatigue. Additionally, the rising number of road fatalities caused by driver distraction will likely lead to stringent regulations that would increase the demand for these systems in coming years.
"The mining segment of the driver safety market is expected to register the fastest growth rate"
The mining industry involves long shifts, monotonous and dangerous routes, and extreme work conditions and working hours. These factors contribute significantly to driver fatigue and distraction, which can result in serious threats to the life of the driver and losses to mine operators. This has led to an increase in the demand for driver fatigue and distraction monitoring systems in the mining industry.
"Asia-Pacific: Fastest growing market for driver fatigue monitoring systems"
Asia-Pacific is estimated to dominate the driver fatigue monitoring system market, and is projected to grow at the highest CAGR during the forecast period. This growth can be credited to the improving socio-economic conditions in emerging economies such as China, India, Indonesia, and Thailand. The growing demand for passenger cars in countries such as China and India and increasing number of road fatalities caused by driver fatigue have boosted the demand for driver fatigue monitoring systems in this region.
BREAKDOWN OF PRIMARIES
The study contains insights provided by various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type – Tier 1 - 55 %, Tier 2 - 20%, and Tier 3 - 25%
- By Designation - C level - 75%, Manager level - 25%
- By Region - North America - 10%, Europe - 20%, Asia-Pacific - 40% and Rest of the World -30%
Technological advancements and increasingly stringent government safety norms have compelled OEMs to invest heavily in R&D activities to develop better safety solutions. The eye-tracking/blink-monitoring system is a promising new technology that is currently in the introduction phase, and is expected to be widely accepted in the near future.
The report provides detailed profiles of the following companies:
- Continental AG (Germany)
- Magna International Inc.( Canada)
- Valeo S.A. (France)
- Infineon Technologies AG (Germany)
- Tobii AB (Sweden)
- Seeing Machines (Australia)
- Smart Eye AB (Sweden)
- Optalert Pty Ltd. (Australia)
- Robert Bosch GmbH (Germany)
- Denso Corporation (Japan)
The report analyzes the market for driver safety on the basis of technology (fatigue monitoring: eye-tracking/blink-monitoring, facial expressions/head movements, and heart rate-monitoring; and distraction monitoring: pressure/angle steering sensor and lane departure system). Additionally, the market for off-highway vehicles has been covered to assess the growth potential of driver safety in this vehicle segment.
The key benefits of buying this report:
- This report helps OEMs understand the competitive scenario of the driver safety market
- The report covers key developments to enable an understanding of the upcoming technological developments and industry trends
- The report provides a detailed analysis of market dynamics such as drivers, restraints, challenges and opportunities
- It provides an analysis and forecast of the driver safety market for both, passenger cars and off-highway vehicles
- The report identifies opportunities in the market for stakeholders and provides details of the competitive landscape for market leaders
Read the full report: http://www.reportlinker.com/p04201130-summary/view-report.html
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