Driver Monitoring System Market Analysis | 2023-2028

Market Insights

The Driver Monitoring System Market is expected to grow at a promising CAGR of 10.8% during the forecast period.

The development of autonomous and connected automobiles, the growing aim to prevent road accidents, and technological improvements in the entire automotive industry are all driving the driver monitoring system (DMS) market forward. Customers' growing awareness and expectations regarding safe driving have also contributed to the market growth. Many governments throughout the world are enforcing strict rules and regulations on driver, passenger, and pedestrian safety. This factor is also likely to contribute to the market growth over the forecast period. The availability of convenience functions in the vehicle, such as hands-free calling and navigation, makes it easier for the driver to become distracted. This is when driver monitoring systems can be quite useful in ensuring the safety of the vehicle.

Early versions of DMS systems depended on steering wheel sensors, whereas others relied on time-of-flight technologies to determine the driver's head position. MS systems have undergone significant alterations in recent years because of technological improvements.

Segments Analysis

By Monitoring Type

The market is bifurcated into driver state monitoring and driver health monitoring. Driver state monitoring is likely to remain the more utilized segment of the market in the foreseen future. As many accidents occur on roads due to drivers’ lack of concentration, governments of various countries are making efforts to reduce the number of accidents on the road by incorporating driver-state monitoring systems. This is a major factor that is expected to fuel the growth of the segment in the coming years.

By Component Type

The market is segmented into interior cameras, sensors, and other components. The sensors segment is expected to remain the most preferred component type during the forecast period. As technology progresses, additional sensors will be added to this system, and the MS sensor industry is expected to have a considerable market opportunity during the forecast period.  The Ford S-Max Concept, for example, has an ECG Heart Rate Monitoring Seat that continuously monitors and records the driver's heart rate. Max Concept also aids in the detection of heart attacks.

By Instrument Type

The market is segmented into hardware and software. Between these instrument types, the hardware segment is likely to remain the bigger demand generator for driver monitoring systems during the forecast period. The hardware sub-segment has a larger market share due to the increased number of DMS systems installed across various models by various OEMs across geographies. Cameras and sensors are among the key hardware systems employed by automotive manufacturers. Camera-based Driver Monitoring Systems (DMS) are a critical component of next-generation ADAS technologies. The automotive and transportation industries are increasingly employing MS to reduce distraction and drowsiness-related crashes.

Regional Analysis

Asia-Pacific is expected to remain the largest market for driver monitoring systems over the forecast period on account of the rise in the popularity and demand for luxury cars, as well as an increase in the number of traffic accidents, which is likely to create new opportunities in the Asia-Pacific market. Furthermore, technological advancements in automobile-oriented countries such as Japan, India, and China are expected to increase the demand for driver monitoring systems (DMS) in the region. Even though North America and Europe have dominated the vehicle market, the region's competitive automobile sector and expanding standard of living will accelerate and deliver continually rising growth in the coming years.

Want to know which region offers the best growth opportunities? Register Here

Key Players

Most companies are deploying various strategies regarding product development & differentiation, pricing, branding, technology, and customized products to gain a competitive advantage. The following are some of the key players in the driver monitoring system market:

• Faurecia
• Tata Elxsi
• Aptiv PLC
• Johnson Controls Inc.
• Magneti Marelli
• Valeo
• Continental
• Bosch
• Visteon
• Denso

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s driver monitoring system market realities and future market possibilities for the forecast period of 2023 to 2028. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com