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Advanced Driver Assistance Systems (ADAS) Market Forecast
The driver safety market is projected to reach a market size of $3.20 billion by 2025 propelled by growing health safety concerns, technological advancements in the automotive sector as distraction monitoring systems constitute the largest segment of
The driver safety market is projected to reach a market size of $3.20 billion by 2025 propelled by growing health & safety concerns, technological advancements in the automotive sector as distraction monitoring systems constitute the largest segment of the passenger car driver safety market.
The application 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 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 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 social-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.
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.
In the process of determining and verifying, the global driver safety market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (55%), Tier 2 (20%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (75%) and Manager Level (25%) from various key organizations operating in the global driver safety market. The primary interviews were conducted worldwide covering regions such as North America (10%), Europe (20%), Asia-Pacific (40%) and ROW (30%).
Another research on Advanced Driver Assistance System (ADAS) Market Forecast to 2021 says, stringent vehicle safety legislation, improving social-economic conditions, and growing demand for premium cars to fuel the demand for advanced driver assistance systems. Camera sensors are expected to be the technology of the present and the future. The global market is projected to grow at a CAGR of 10.44% from 2016 to 2021, to reach a market size of USD 42.40 billion by 2021.