Global Driver Alert Warning System Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028.
The Driver Alert Warning System can be defined as a digital driver safety system that analyses failing concentration on the part of the driver and provides the driver with an acoustic warning as well as an optical indication, and recommends the driver to take a break, through popping up a message on the instrument panel display. Driver Alert System assess driver's level of alertness based on the driving behavior. The growing incidences of road accident injuries and stringent vehicle safety regulations from government authorities as well as strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to World Health Organization (WHO) estimates - as of 2020, globally approximately 1.3 million people lost their lives due to road traffic crash and around 20 and 50 million people suffer non-fatal injuries. More than 90% of road traffic deaths occur in low- and middle-income countries. Moreover, as per Ministry of Road Transport and Highways of India (MORTH)'s estimates - during the year 2020, India recorded 3,66,138 road accidents which caused loss of 1,31,714 persons lives and injured 3,48,279 persons. Furthermore, leading market players are working towards strategic partnerships to drive the development of innovative products. For instance, in October 2020, Chicago, Illinois, USA based Cedar Electronics and Amsterdam, Netherlands based HERE Technologies entered in a partnership with Germany based Bayerische Motoren Werke AG (BMW) to offer location-based alerts services for drivers in the United States of America. Under this partnership the market plyers would rollout BMW Traffic Camera Information, an advanced driver alert service that combines location intelligence, radar and laser detection data, and traffic enforcement camera warnings to keep drivers informed of their surroundings. Also, growing technological innovations in automobiles and rising adoption technologically advanced vehicles are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a high deployment cost coupled with rising data protection & privacy concerns impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Driver Alert Warning System Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing demand for technologically advanced vehicles and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of automotive sector and rising incidences of road traffic injuries in the region, would create lucrative growth prospects for the global Driver Alert Warning System Market across the Asia Pacific region.
Major market players included in this report are:
STONAKM CO. LTD.
Magna International Inc.
Infineon Technologies AG
HELLA GmbH & Co. KGaA
Robert Bosch GmbH
Ford Motor Company
Johnson Controls Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Vehicle Type
Steering Wheel Touch-type
Infrared Camera Tracking
Smart Wearable Devices
By End User
Light Commercial Vehicle
Heavy Commercial Vehicle
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Driver Alert Warning System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers