Driver Monitoring System Market is Projected to Bring in US$ 8,770.9 Mn by 2032
The driver monitoring system market is estimated to develop at a CAGR of 7.5 percent between 2022 and 2032, reaching a worth of US$ 8,770.9 Mn by 2032.
The market for driver monitoring systems will benefit from rising demand as more strict rules require the adoption of modern technologies such as driver monitoring systems to prevent unexpected road accidents. Lidar and camera sensors remain the core technology for this system. As a result, infrared and video sensors make for around 70% of the DMS market in terms of technology type.
The key driver for the driver monitoring systems (DMS) industry is an increase in road-safety awareness as a result of an increase in various on-road events caused by irresponsible or distracted driving. Road accidents kill around 1.35 million people each year, according to a report released by the World Health Organization (WHO) in 2020.
DMS are required for Level 3 and 4 self-driving or autonomous vehicles, as they require drivers to re-engage and be ready to control the vehicle at critical points along the journey. In the projected term, the market is expected to benefit from an increase in autonomous vehicles as well as regulations governing them.
Competitive Landscape
Continental AG, ZF Friedrichshafen AG, Mobileye, Aptiv Plc, Veoneer Inc., Valeo SA, Magna International, Aisin Seiki Co., Ltd and others
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