The driver alert system is considered to prevent accidents due to driver error, distractions, and drowsiness. It detects the telltale signs of an impaired or drowsy or driver, and provides an alert or take corrective action. For instance, the Driver Alert System by the Volkswagen identifies failing concentration of the driver and provides the driver with a five-second acoustic warning along with an optical indication on the instrument cluster recommending the driver to take a break. The introduction of advanced driver assistance systems (ADAS) and consistent technological developments in automotive sector laid the foundation for the driver alert systems market growth.
The market for driver alert system is expected to reach rise at a CAGR of 15.2 percent during the forecast period. The upsurge in demand for advanced driver assistance systems (ADAS) along with the ongoing advancements in sensor technology primarily provide impetus to growth of the driver alert system market.
Human errors mainly causes the accidents along with the distraction while driving, over speeding, driving after consuming alcohol, non-adherence to traffic signals, and poor lane discipline. For instance, as per the World Health Organization study in 2018, almost 1.35 million people lost their lives around the world due to road accidents. Hence, the need to maintain a safe road fuels growth in demand for the driver alert system. In addition to this, the surging demand for improved vehicle has made driver alert systems highly desirable in the automotive sector. This is due to the features of driver alert systems such as disaster alert, road safety alert, and weather alert. Initially such systems were only introduced in high-end and luxury vehicles; however, a significant growth in the number of road deaths has led to the increased focus of automakers toward advanced driver alert systems in small- and medium-sized vehicle as well. A growing number of small- and medium-sized vehicle are being introduced with advanced features such as driver alert systems.
However, the factors such as high cost of the driver alert system; data protection & privacy concerns,; and infrastructural challenges may hamper growth of the market to some extent during forecast period. On the other hand, the emergence of modern sensor technology is rapidly being adopted in intelligent transportation system including a number of driver alert systems such as weather alert, road safety alert, and driver fatigue alert. The advancements in sensor technology has led to the development of more advanced driver alert systems. Hence, this factor creates lucrative growth opportunities for the driver alert systems market.
Furthermore, the advent of COVID-19 pandemic has significantly caused the slight negative impact on growth of the driver alert systems market owing to non-operational manufacturing units during lock down, disruptive supply chain, unavailability of sufficient man power, shutting down of logistics sectors, scarcity of raw materials, economic constraints, and decrease in demand.
Throughout the forecast period, sensors segment will continue to hold a dominant share of the global market, on the basis of component. This is due to fact that the sensors are rapidly being used in diverse driver alerts systems to alert and monitor about potential risks such as weather and road risks. The sensors are able of detect different environmental conditions such as temperature and road conditions, which is crucial for generating a timely alert. However, the cameras segment is anticipated to witness highest growth rate during the forecast period.
According to the vehicle, the passenger vehicles segment is expected to hold a dominant share of the global market. The surge in demand for passenger is the major factor contributing to the higher adoption of driver alert systems in small to luxury passenger vehicles. In addition, there is increase in popularity of driver safety and connectivity solutions among the passenger vehicles. This is anticipated to help in the growth of the global driver alert systems market.
DRIVER ALERT SYSTEM MARKET SEGMENTATION:
- Steering and seat vibration
- Sound alerts
- Passenger Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles,
- Buses & Coaches
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Asia-Pacific has dominated the global driver alert systems and is likely to be the most profitable region throughout forecast period. This is due to the rising demand for luxury and premium vehicles along with the increased production of automated vehicles. In addition to this, wide presence of major component manufacturers and leading OEMs in the region is further fuelling significant growth in share held by Asia-Pacific in the global driver alert systems market.
On the contrary, the factors such as rapid expansion of automotive sector and extensive presence of well-developed manufacturing units aided the Europe to emerge as the second-leading market for driver alert system across the globe. In addition to this, rise in demand for driver alert systems from countries such as the U.K, Mexico, and Italy is propelling market growth in the region.
Further, North America region is expected to witness significant growth rate during the forecast period. The advanced automotive infrastructure has primarily expanded the North America driver alert systems market. In addition, the rise in demand for passenger and electric vehicles witnessed in countries such as U.S. and Canada, further helping to the growth of North America market.
FEW KEY PLAYERS IN DRIVER ALERT SYSTEM MARKET:
- -Continental AG
- -STONAKM CO., LTD.
- -DENSO Corporation
- -Infineon Technologies AG
- -HELLA GmbH & Co. KGaA
- -Magna International Inc.
- -Daimler AG
- -Robert Bosch Gmbh
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