Global Driver Safety Systems Market: Snapshot
Players within the global driver safety systems market are striving to develop advanced systems in order to gain a competitive edge above the others. Leading players with in the market are developing Innovative features in order to maintain their positions in the market, says Transparency Market Research (TMR) in its latest research report on this market. An increasing number of market players are focusing their efforts on introducing advanced yet inexpensive driver assistance technologies.
Major Key Players of the Driver Safety Systems Market are:
Magna International Inc., Robert Bosch GmbH, Smart Eye AB, Seeing Machines, Valeo S.A., Continental AG, Denso Corporation, and Infineon Technologies AG.
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According to the report, the global driver safety systems Market is anticipated to rise from US$1,921.3 Mn in 2017 to reach US$2,750.0 by the end of 2024. The market is anticipated to expand at a CAGR of 7.4% from 2017 to 2024. On the basis of technology, the global driver safety systems market is segmented into facial expressions, steering angle sensor, heart rate monitoring, eye tracking, and lane departure system. Of these, the eye tracking segment is anticipated to enjoy higher demand among car buyers. This segment was valued at US$ 456.6 Mn and accounted for 23.8% of the total market in 2017. The eye tracking segment is anticipated to exhibit and 8.1% CAGR between 2017 and 2024 and account for 24.5% of the total market by 2024.
On the basis of geography, it is anticipated that Asia Pacific excluding Japan APEJ will hold the maximum share of the market. The APEJ segment will expand at an 8.4% CAGR from 2017 to 2024. It is anticipated to gain 138 basis point market share by 2024. The market’s growth in Asia Pacific excluding Japan is attributed to the adoption of driver safety systems in passenger cars. The high demand from emerging economies in Asia Pacific excluding Japan his behind the leading status of this region within the driver safety systems market.
Increasing Demand For Convenience And Rising Number Of Road Accidents Driving Market
Rising demand for convenience and passenger safety along with driver safety has led to the growth of the global driver safety systems market. The rising adoption of advanced driver assistance systems has led to a rise in the adoption of driver safety systems in compare, commercial, and mid-sized vehicles, and all types of cars. This market is also boosted by various initiatives taken by government for the improvement of safety of passengers as well as for the reduction of road accidents. Car makers are thus pressurized to adopt and implement driver safety systems on account of the growing focus of the government with regards to the safety of drivers and passengers.
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Research objectives:-
– To study and analyze the global Driver Safety Systems consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Driver Safety Systems market by identifying its various sub-segments.
– Focuses on the key global Driver Safety Systems manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Driver Safety Systems with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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