According to a new study by Fact.MR, the rising demand for greater automotive safety will enable growth in the driver alert system market at above 14% CAGR between 2020 and 2030. Innovations in the field of advanced driver assistance systems (ADAS) is expected to create an environment conducive to the growth of the market.
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The World Health Organization (WHO) has stated that nearly 1.35 million people across the world died in road accident in 2018. The WHO also further identifies road injuries among leading causes of deaths among people aged between 5 and 29 years.
Some of the leading car makers are introducing cutting-edge technologies in their vehicles to curb this incidence.
Spurred by these factors, sales recorded in the driver assistance systems market is surging at an impressive pace. Fact MR’s study on the market provides insights into various growth drivers. It also gauges the investment feasibility across key segment. Some of the key takeaways from the report are highlighted below:
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Driver Alert Systems Market – Segmentation
Fact.MR’s research study assesses the global driver alert systems market in terms of component, alert, type, vehicle, supplier, propulsion, and region. This report presents extensive market dynamics and trends associated with different segments of the market and their influence on the growth prospects of the global driver alert systems market.
- Steering and seat vibration
- Sound alerts
- Drunk Driving
- Passenger Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles,
- Buses & Coaches
Increasing Demand for ADAS Steering Growth
With the rapidly evolving automotive industry, the demand for various ADAS such as driver connective solutions, weather alerts, safety alerts, and others is increasing exponentially.
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Driver alert system is gaining traction not only in luxury vehicles segment, but also in small and medium sized vehicles categories. The increase in demand for passenger vehicles, coupled with the diverse applications of sensors, starting from disaster to road safety alerts, is creating prospects for growth of the market.
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