Driver Safety Market Overview
Driver safety technologies refer to special integrated systems that are developed to ensure the maximum safety of the passengers as well as the automobile. A broad variety of devices and gadgets are included under driver safety technologies that enable car to computer communication, geo-fencing capabilities, remote speed sensing theft deterrence, damage mitigation, as well as, vehicle-to-vehicle communication. These technologies are mainly responsible for assisting the driver in better operation of the automobile, hence, avoiding any life-threatening accidents.
With a rise in the demand for automobiles, the need for better road safety has arisen. Such need has led the government to pose stringent traffic rules and to pass various laws enforcing the application of better driver safety technology in the latest automobiles. These factors are predicted to push the Driver Safety Market during the forecast period. The Driver Safety Market is anticipated to witness a robust CAGR between 2016 and 2027, as per the recent report issued by Market Size Research Future. Moreover, a rise in the number of road accidents due to rising traffic has propelled the demand for automobiles with driver safety systems, hence, pushing the Driver Safety Market further.
Segmental Analysis
The global Driver Safety Market is segmented by type and vehicle type. By type, the Driver Safety Market is segmented into driver alertness detection system (DADS), electronic stability control (ESC), eye-tracking/blink-monitoring, lane departure warning (LDW), pressure/angle steering sensor, and vehicle-to-vehicle communication. By vehicle type, the Driver Safety Market has been segmented into commercial vehicles and passenger vehicles.
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Regional Analysis
The global Driver Safety Market is segmented by region into North America, Asia Pacific (APAC), Europe, and Rest of the World (RoW). North America and Europe are expected to witness steady growth during the forecast period due to a pre-established Driver Safety Market in the regions. Due to technological advancements, North America is projected to showcase a rise in the demand for automobiles with advanced driver safety systems in place. Further, due to the presence of many prominent Market Size players in the United States, the country is expected to emerge as the most robust economy in North America. Other countries estimated to develop as potential Market Sizes for driver safety technologies in North America including Canada and Mexico.
The Asia Pacific is estimated to showcase the highest growth rate during the forecast period owing to the rising demand for automobiles in the region. The Asia Pacific is determined to dominate the global Driver Safety Market due to factors including increasing competition in the automotive industries, rising adoption of safety features in latest automobiles, and the introduction of stringent policies by the government regarding road safety. Countries such as China, India, and Japan are expected to emerge as the leading economies in the Asia Pacific.
Europe is estimated to follow the Asia Pacific and North America in terms of Market Size share for driver safety technologies. Germany is expected to be the biggest Market Size for driver safety technology within Europe, owing to increased concerns towards road safety. Other countries that are predicted to garner lucrative growth within Europe include France, Spain, and the United Kingdom (U.K.).
Key Players
Market Research Future (MRFR) has profiled many prominent players in the Driver Safety Market. Some of these key players include Continental AG (Germany), Denso Corporation (Japan), Infineon Technologies AG (Germany), Magna International Inc. (Canada), Optalert PTY Ltd. (Australia), Robert Bosch GmbH (Germany), Seeing Machines (Australia), Smart Eye AB (Sweden), Tobii AB (Sweden), and Valeo S.A. (France).
Industry Update
February 2021: Subaru Forester SUV and the new 2020 Legacy Sedan have an in-built facial recognition technology, DriverFocus, that is developed to help drivers with distracted driving as well as driver fatigue. The DriverFocus technology, introduced by Subaru, was named as the Best Safety Innovation for 2021 by the Automobile Journalists Association of Canada.
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