Driver Monitoring System Market to Grow at 13% CAGR till 2024: TechSci Researchby Anamika Singhal SEO - Executive (Automotive)
Growing technological advancements in automotive industry, rising need to curb road accidents, and government rules and regulations to fuel global driver monitoring system market through 2024
According to TechSci Research report, “Global Driver Monitoring System Market By Vehicle Type, By Monitoring Type, By Offering Type, By Component, By Region, Competition, Forecast & Opportunities, 2017 - 2024”, driver monitoring system market, globally, is projected to grow at a CAGR of over 13% during 2019 - 2024, backed by increasing technological advancements in the automotive industry across the globe. Growing integration of driver monitoring systems in passenger cars and commercial vehicles by several automobile manufacturers can be attributed to the rising need to curb injuries and fatalities in road accidents. Moreover, expanding fleet of commercial vehicles is expected to push the demand for driver monitoring systems capable of tracking the drowsiness of truck drivers who drive for long hours at a stretch.
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Key players operating in global driver monitoring system market like Continental AG, DENSO Corporation, Delphi Automotive PLC, Valeo S.A. and Robert Bosch GmbH are continuously working to develop more affordable and advanced products to further boost their customer base. On the other hand, many start-ups are also continuously working to intensify their business operations by enhancing the quality and portfolio of their products. Several driver monitoring system manufacturers are investing heavily in research & development activities, while various others are investing intensively to expand the reach and availability of their products across the globe.
“With growing concerns regarding road accidents, driver monitoring systems are emerging as a promising product to help reduce road accidents related injuries and fatalities. Driver monitoring systems observe driver’s driving habits and monitor hand and head movements to identify the driver’s fatigue level and drowsiness level. With continuous technological advancements, driver monitoring system quality and reliability is anticipated to increase and become much better during the forecast period, thereby making it a preferred feature in automobiles in coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Driver Monitoring System Market By Vehicle Type, By Monitoring Type, By
Offering Type, By Component, By Region, Competition, Forecast &
Opportunities, 2017 - 2024” has analyzed the potential of driver monitoring system market,
globally, and provides statistics and information on market size, shares and
trends. The report will suffice in providing the intending clients with
cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyses emerging trends
along with essential drivers and key challenges faced by driver monitoring system market
across the globe.
About TechSci Research
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Created on May 6th 2019 01:50. Viewed 374 times.