DUBLIN, October 6, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Driver Safety Market for Passenger Cars by Technology, Off-Highway Vehicle, and Region - Global Forecast to 2025" report to their offering.
The passenger car driver safety market is projected to grow at a CAGR of 6.24% during the forecast period, to reach a market size of USD 3.20 Billion by 2025.
A wide array of upcoming infrastructural development projects, increased urbanization, and the rising demand for safety solutions has led to an increase in the demand for driver safety systems.
Additionally, technological advancements such as eye-tracking technology (General Motors) and Mercedes-Benz Attention Assist (Mercedes) have boosted the demand for these systems. These advancements have increased the safety of drivers and passengers in the passenger car segment, and have resulted in a reduction in fatalities due to the same.
In this report, driver safety systems are broadly segmented based on technology into driver fatigue monitoring systems (eye-tracking/blink-monitoring, facial expressions/head movements, and heart rate-monitoring) and distraction monitoring systems (pressure/angle steering sensor and lane departure system).
The distraction monitoring system segment is projected to record the largest market size by 2020, as these systems assist in preventing road accidents caused by distraction. With regard to distraction monitoring systems, the lane departure system is expected to account for the largest share by 2020, owing the benefits it offers; for instance, it alerts the driver when the vehicle is drifting out of a lane using visual, tactile, or audible warnings.
The off-highway vehicle segment includes the driver fatigue and distraction systems used in construction and mining equipment (surface mining). The mining segment of the driver fatigue and distraction monitoring market is projected to register the highest CAGR from 2016 to 2021. The increasing number of road accidents and casualties caused by fatigue are a pressing issue for mine operators. Several mine operators and OEMs have already incorporated driver fatigue and distraction monitoring systems in vehicles to overcome this problem.
The Asia-Pacific region is estimated to dominate the driver fatigue monitoring market. This can be credited to the improving socio-economic conditions in emerging economies such as China, India, and Japan. The growing public awareness about safety solutions such as driver fatigue and distraction monitoring systems will likely lead to a substantial increase in the demand for these systems, and could influence buying behavior in the near future.
The passenger car segment is estimated to lead the European distraction monitoring system market. This can be attributed to the stringent safety regulations in Europe, such as the mandatory incorporation of advanced emergency braking systems and lane departure warning systems in heavy-duty vehicles (since 1st November 2013 for new types of vehicle and 1st November 2015 for all new vehicles).
Driver Safety Market for Passenger Cars
Key factors restraining the growth of the vehicle safety market include the high cost of the system and its complex nature. The driver fatigue and distraction monitoring system market for passenger cars and off-highway vehicles is dominated by a few global players, such as Continental AG (Germany), Magna International Inc. (Canada), Valeo S.A. (France), Seeing Machines (Australia), and Smart Eye AB (Sweden).
Seeing Machines has a strong product portfolio, and has invested heavily in R&D to retain its market position. It has adopted agreement/joint venture/partnership as a key strategy to gain traction in the market. Meanwhile, Robert Bosch GmbH (Germany) has adopted new product development and supply contracts as key strategies to become a leading player in the market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Technology Overview
7 Off-Highway Vehicle: Driver Fatigue and Distraction Monitoring System Market
8 Passenger Car Driver Fatigue and Distraction Monitoring System Market, By Technology & By Region
9 Competitive Landscape
10 Company Profiles
- Continental AG
- Denso Corporation
- Infineon Technologies AG
- Magna International Inc.
- Optalert PTY Ltd.
- Robert Bosch GmbH
- Seeing Machines
- Smart Eye AB
- Tobii AB
- Valeo S.A.
For more information about this report visit http://www.researchandmarkets.com/research/sd84k2/driver_safety
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets