Driver Safety Market for Passenger Cars Worth 3.20 Billion USD by 2025
PUNE, India, October 3, 2016 /PRNewswire/ --
The report "Driver Safety Market for Passenger Cars by Technology (Eye-Tracking/Blink-Monitoring, Facial Expressions/Head Movements, Heart Rate-Monitoring, Pressure/Angle Steering Sensor, and Lane Departure Warning), Off-Highway Vehicle, and Region - Global Forecast to 2025", The market is projected to grow at a CAGR of 6.24%, to reach a market size of USD 3.20 Billion by 2025, whereas the market for off-highway driver safety is projected to grow at a CAGR of 4.91% during the forecast period, to reach USD 380.38 Billion by 2021.
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Browse 66 market data Tables and 50 Figures spread through 130 Pages and in-depth TOC on "Driver Safety Market"
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The Driver Safety Market is primarily driven by the growing demand for safety solutions across the globe.
"Distraction monitoring systems are expected to lead the passenger car Driver Safety Market, by technology"
Technological advancements and the growing need for safety solutions have led to a significant increase in the demand for distraction monitoring systems that help reduce road accidents. Additionally, increasingly stringent government legislation for automotive safety has triggered the need to develop innovative, low-cost, and practical safety solutions to decrease the number of fatalities caused by distracted driving. OEMs are consequently developing safety solutions such as pressure/angle steering sensors and lane departure systems.
"Surface mining equipment constitutes the fastest growing segment of the off-highway vehicle Driver Safety Market"
Driver fatigue contributes significantly to accidents in the mining industry. Driver fatigue monitoring systems therefore play a vital role in maintaining workplace safety by instantly warning the mine operators and workers when a driver's drowsiness affects the overall performance and safety. The high demand for driver fatigue monitoring systems is attributed to the benefits offered by the technology, which helps improve efficiency by reducing losses, enhances workplace safety and operator health, and increases productivity. Advancements in driver fatigue monitoring technology are helping manufacturers overcome challenges related to safety; this is driving the demand for the same.
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Asia-Pacific: The largest and fastest growing market for passenger car driver fatigue monitoring systems
The Asia-Pacific region includes key countries such as China, Japan, and India. The driver fatigue monitoring system market for passenger cars in the region is expected to grow at a high CAGR, as rapid technological changes and increasing competition in the automotive industry have led OEMs in the region to adopt new safety technologies that can enhance car performance and safety.
The Driver Safety Market is dominated by a few global players, and comprises several regional players. Some of the key manufacturers operating in the market are Smart Eye AB (Sweden), Seeing Machines (Australia), and Tobii AB (Sweden).
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