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A number of market shaping factors have a significant influence on the dynamics and evolution of the driver safety industry. This market is mainly driven by one of the leading drivers that have significant influence on this market and it is road safety. All the nations and regulatory bodies are working actively to promote sturdier safety regulations that will lead to a major decrease in road crashes by reducing risk factors. With this increased emphasis on safety standards, there has been a move to integrate high-tech driver safety technologies, including the collision avoidance systems which enable detecting and warning the drivers of any impending collisions as well as lane departure warnings and fatigue detection systems that assist in road danger prevention into vehicles.
Secondly, the awareness of consumer about driver safety and which is in imminent danger had developed a fertile market. With the increased awareness of potential hazards associated with driving while distracted, society’s desire becomes growing to services capable of maintenance safer roads has also been shaped. The change in consumer perception has created a trend that sees the availability of safety features and technologies gaining ground as witnessed in the driver safety market
Quick technological developments also play a major role as regards the emergence of the dynamics of the safety driver market. Through the convergence of artificial intelligence, machine learning and sensor technologies into adapted driver safety solutions; we now have more advanced and efficient systems such as those presented by Telogis. Not only do these technological innovations make safety systems more accurate, and reliable but also benefit in developing the industry as well as ensure that it remains competitive in the production of quality products.
The other significant trend is the growing cooperation between technology providers and various parts of the automotive industry. With the growing need for sophisticated driver safety in automobiles, manufacturers have come into partnership with technology companies to incorporate state-of-the -art technologies that make travel exceptionally enjoyable. This partnership not only speeds up the introduction and use of driver-focused security technologies, but ensures that such innovations are available to more significant recipient markets.
Apart from that, the trend of connected vehicles and transformation towards driverless also takes a central part in affecting the segment of driver safety market. Vehicle-to infrastructure services made available through the technology powered by connected cars help vehicles communicate in real time with an emphasis on sharing vital information regarding road conditions, traffic flow and hidden threats. This inter connectivity makes driver’s safety systems more efficient and create a system of Safety Ecosystem. Furthermore, the economic landscape and disposable income levels of consumers influence the adoption of driver safety solutions. In regions with a rising middle class and increasing purchasing power, there is a higher likelihood of consumers investing in vehicles equipped with advanced safety features. Conversely, economic constraints in certain regions may hinder the widespread adoption of expensive driver safety technologies.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 6.29% (2023-2032) |
Driver Safety Market Highlights:
Driver Safety Market Overview
The Driver Safety Market is projected to grow from USD 2909.9 million in 2021 to USD 5678.89 million by 2032, exhibiting a compound annual growth rate (CAGR) of 6.29% during the forecast period (2023–2032).
Market Synopsis
Global Driver Safety Market is segmented based on Type, Vehicle Type, and Region. The driver safety market is anticipated to grow significantly in the coming years owing to a rise in the number of road accidents and deaths and an increase in the sale of EV & luxury vehicles. The growth of the automotive industry and the rise in technological advancements in the automotive industry are the major factors expected to promote driver safety systems in developed countries. Internet of Things (IoT) and artificial intelligence (AI) technologies will continue to revolutionize the automotive sector in the US. Device connectivity, autonomous driving, electric powertrains, and shared mobility are also the latest trends that will lead to the demand for the driver safety system in the near future.
Regional Analysis
Based on region, the report on the global driver safety market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Asia-Pacific accounted for the largest market share of 42.2% in 2019, with a market value of USD 21 billion; it is expected to register the highest CAGR of 8% during the forecast period. Asia-Pacific is expected to create a scope for the growth of the driver safety market owing to the high automobile sales in countries such as China, Japan, India, and South Korea. The driver safety market is growing with the increasing vehicle sales in this region as these systems are used in monitoring vehicle position, driver alertness, and eye-tracking for improving vehicle safety.
Europe was the second-largest market in 2019, valued at USD 3.6 billion; it is projected to exhibit a CAGR of 8%. Europe comprises Germany, France, the UK, and Italy. The European Union has introduced several norms regarding vehicle safety, which prompt the automotive OEMs and electronic component manufacturers to integrate electronics into automobiles consistently. The region hosts key electronics sensor manufacturers, such as Robert Bosch GmbH, Valeo, Infineon Technologies AG, and Continental AG, who provide electronic sensors, especially for premium vehicles.
Key Competitors
Global Driver Safety Market is characterized by the presence of many local, regional, and global vendors. The market is highly competitive, with all the players continually competing to gain a larger market share. High competition, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations are some of the critical factors that could restrain the market growth. The key players of the global driver safety market are Denso Corporation (Japan), Robert Bosch GmbH (Germany), Continental AG (Germany), Magna International Inc. (Canada), and Infineon Technologies AG (Germany).
Industry Update
Infineon Technologies AG has developed the XENSIV BGT60ATR24C radar for in-cabin monitoring solutions. It has also partnered with Caaresys and bitsensing for enabling advanced signals and processing visual architecture.
Global Driver Safety Market, By Region, 2019
Source: MRFR Analysis
Market Segmentation
- By Type- Lane Departure Warning Steering Sensor, Electronic Stability Control, Driver Alertness Detection System, Pressure/Angle Steering Sensor, Vehicle-To-Vehicle Communication, Eye-Tracking/Blink-Monitoring, and Others
- By Vehicle Type- Passenger Cars and Commercial Vehicles
Key Questions Addressed by the Report
- Who are the major market giants operating in the global driver safety market?
- Which type of segment of the driver safety market is observing the fastest growth?
- Which is the leading region of the driver safety market?
- What is the prominent vehicle type of the global driver safety market?
- What is the primary driving factor of the global driver safety market?
Driver safety systems are the systems that help drivers with tasks such as monitoring, warning, braking, and steering. These systems provide a two-second warning to drivers when an obstacle approaches. It keeps them alert to hazards such as pedestrians, lane changes, and short braking distances to avoid road accidents.
Stringent regulations from the government regarding driver’s safety and growing concerns regarding road accidents have surged the demand for driver safety technologies. Increasing road accident has made the manufacturer work on automotive safety & technologies to prevent accidents. The introduction of new technologies, such as driver alertness detection system and electronic stability control (ESC), has contributed to the growth of the driver safety market. These technologies tackled the safety issues and various causes such as driver’s distraction due to tiredness and drowsiness and have helped to lower down the road accidents in recent times.
Segmentation
Global Driver Safety Market is segmented based on Type, Vehicle Type and Region.
The Type Segment is bifurcated into lane departure warning steering sensor, electronic stability control, driver alertness detection system, pressure/angle steering sensor, vehicle-to-vehicle communication, eye-tracking/blink-monitoring, and others. Driver safety systems are active safety systems that help prevent accidents and crash by offering warnings or by providing additional assistance to the driver in the steering/control of the vehicle. Improving road safety standards/supporting legislation and consumer awareness in emerging markets are increasing the demand for driver safety systems in passenger and commercial vehicles.
Based on vehicle type, the global driver safety market is segmented into passenger cars and commercial vehicles. The increasing demand to improve vehicle efficiency and the incorporation of safety features in both passenger and commercial vehicles are likely to drive the need for driver safety systems in the global market. Passenger cars are used to carry passengers rather than goods. There is an increase in the demand for passenger cars owing to the increase in population, high purchasing power, and favorable regulations.
Recent Development
March 2024: The Franklin Fire Department has started installing the HAAS Alerting System on its vehicles. The system alerts motorists when an emergency vehicle is approaching or nears an emergency scene ahead. It was activated in certain frontline apparatus last week and more apparatus will be brought online soon, according to Fire Chief Glenn Johnson.
When an FFD vehicle’s emergency lights are turned on, HAAS works by notifying motorists within a roughly 30-second radius based on location and timing that they need to slow down or move over for nearby emergency vehicles. It’s compatible with navigation apps such as Waze and Apple Maps, as well as vehicles that have the Emergency Vehicle Alert System feature, including 2018 and newer models of Jeep, Ram, Chrysler, and Dodge.
Tennessee state law requires drivers to slow down or move over for emergency and utility service vehicles if it is safe to do so. This alert gives them more time to comply with that.”It will probably warn them before they see or hear the fire truck,” Johnson said. He added that this is important because today’s vehicles are very well insulated against outside noise. The department hopes this technology can help prevent accidents involving their apparatuses and cut down on response times; they receive thousands of calls each year.In 2023, it responded to over 11K calls — including nearly 600 wrecks. “We’ve had several close calls over the years,” Johnson said about drivers not moving over while his crews work on the roadway. In 2017, Ladder 3 was struck while working an injury crash on I-65.
According to HAAS, its system has been installed across about 3,600 fleets nationwide spanning public safety applications; work zones; tow trucks; DOT trucks; infrastructure maintenance/service providers; telecom/utility fleets; solid waste/recycling/refuse fleets; school buses; and other public transportation vehicles. Fire departments using the system range from the FDNY to smaller, rural volunteer departments.
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