The driver alert systems market is expected to display an exponential rise at 14% CAGR through the end of the projection period in 2030. The growing cases of road access from drowsy or drunk drivers is a major influencer behind developments in the market. Investments made for advanced driver assistance systems, AI, and sensor technology will also aid long-term growth. Restricted activity in the auto sector during the covid-19 pandemic hurts short-term prospects.
“Improvements in driver assistance technology and the growing focus by leading auto manufacturers towards the development and production of autonomous vehicles to maximize road safety are likely to positively influence the driver alert system market,” says the FACT.MR analyst.
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Key Segments Covered
- Component
- Driver Alert Sensors
- Driver Alert Cameras
- Other Driver Alert Systems
- Alert
- Driver Alert Systems for Steering and Seat Vibration
- Driver Alert Systems for Sound Alerts
- Driver Alert Systems for Other Alerts
- Type
- Fatigue Driver Alert Systems
- Drowsiness Driver Alert Systems
- Drunk Driving Driver Alert Systems
- Driver Alert Systems for Others
- Vehicle
- Driver Alert Systems for Passenger Vehicles
- Driver Alert Systems for Commercial Vehicles
- LCV
- HCV
- Buses & Coaches
- Supplier
- Driver Alert Systems Sales via OEMs
- Driver Alert Systems Sales via Aftermarket
- Propulsion
- Gasoline propelled Driver Alert Systems
- Diesel propelled Driver Alert Systems
- Hybrid propelled Driver Alert Systems
- Electric propelled Driver Alert Systems
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Driver Alert System Market- Key Takeaways
- Fatigue prevention and alert systems will reflect a higher growth rate on the back of changes in consumer lifestyle in urban environments.
- Driver alert systems for gasoline/diesel vehicles hold major market share owing to large global passenger and commercial fleets.
- Asia Pacific is a major market for driver alert systems, with the presence of production facilities by leading market players, in addition to higher demand for autonomous vehicles.
Driver Alert System Market- Driving Factors
- Higher levels of awareness about the certified vehicle safety ratings will contribute to adoption of driver alert systems.
- The development and penetration of LiDAR, radar, cameras, and ultrasonic sensors will support market growth.
Driver Alert System Market- Major Restraints
- Lack of road transport infrastructure and lax traffic regulations in developing countries is holding back market growth.
- The increased cost to vehicle owners for the use of driver alert systems is a detractor to the market.
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COVID-19 Impact on Driver Alert Systems Market
The covid-19 pandemic has adversely affected the driver alert system market. Lockdown restrictions have resulted in suspended production and supply chain activities in the auto sector. Also, changes in consumer spending behavior and reduced vehicle sales during the crisis hurts market prospects.
Recovery of the industry is likely to be gradual towards 2021. However, changes in restrictions and initiatives by governments towards the recovery of national economies will support long-term industry prospects.
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