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Global Driver Safety Market 2020 (Includes Business Impact of COVID-19)

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Driver Safety Market market.

Trusted Business Insights presents an updated and Latest Study on Driver Safety Market Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Driver Safety Market market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Global Driver Safety Market Drivers, Trends, Product Developments, Applications, Market Growth Prospects, and Forecast 2019 -2028 report has been recently created by research team of Trusted Business Insights, which focuses on recent developments in driver safety systems, regional and country-wise markets, prominent players in the target market, etc. In order to offer a clear scenario about the global driver safety market, the report has been segmented and further sub-segmented on the basis of technology, vehicle type, sales channel, and region.

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Driver Safety: Overview

Driver safety technologies are special integrated systems that are developed to ensure maximum safety of the automobile as well as passengers. Driver safety technologies include a wide variety of devices and gadgets which offer computer communication, remote speed sensing, theft deterrence, geo-fencing capabilities, damage mitigation, and vehicle-to-vehicle communication, among other features. These technologies offer assistance to the drivers for better operating experience and to avoid any life-threatening accidents.

Market Dynamics: Factors Impacting Growth Positively and Negatively

Increasing number of road accidents and stringent government regulations regarding drivers safety are some of the major factors expected to drive growth of the global driver safety market. Moreover, innovative and practical safety solutions such as driver alertness detection system, electronic stability control (ESC), and others are some of the major factors expected to boost growth of driver safety market in the next few years. OEMs are focusing to develop solutions for driver safety such as lane departure warning systems, and steering angle sensors. In addition, growing demand for comfort and luxury cars and intense competition in the automotive sector and demand for safety-related systems are some factors expected to create lucrative opportunities for manufacturers operating in the global driver safety market.

However, high cost is one of the major factors that could challenge growth of the global driver safety market over the forecast period.

Segment Analysis:

By Technology:

Among the technology segments, the driver fatigue monitoring system segment is expected to account for significant revenue share in the target market. The distraction monitoring system is projected to grow at a notable growth rate in the next 10 years in the target market.

By Vehicle Type:

Among the vehicle type segments, the passenger car segment is anticipated to contribute major revenue share in the global driver safety market and is projected to maintain its dominance over the 10-year period.

By Sales Channel:

Among the sales channel segments, the OEM segment is anticipated to grow at a considerable CAGR over the 10-year period, owing to rising number of manufacturers offering in-built safety systems.

Driver Safety Market: Region Analysis

The driver safety market in Asia Pacific is expected to account for major share in the target market in terms of revenue. This can be primarily attributed to rising number of accidents and deaths caused by drowsiness or fatigue, and strict government regulations regarding driver and automobile safety. In addition, growing awareness regarding safety solutions such as driver fatigue and distraction monitoring systems, along with increasing adoption of safety systems in the vehicle, especially in countries such as India and China, are factors expected to drive growth of the APAC driver safety market. The North America market is expected to hold the second-highest position in terms of revenue in the global driver safety market, due to increasing awareness regarding driver safety, strict traffic rules, and concerns regarding road safety among individuals. In addition, increasing number of vehicles, and early adoption of new technologies are other factors expected to boost growth of the driver safety market in North America. For instance, The Department of Transportation and the National Highway Traffic Safety Administration (NHTSA) are working together in order to support the deployment of automated vehicle safety technologies. The markets in Latin America and Middle East & Africa are expected to grow at a moderate growth rate over the next few years.

Global Driver Safety Market Segmentation:

Segmentation by Technology:

Driver Fatigue Monitoring System
Eye-Tracking/Blink-Monitoring
Facial Expressions/Head Movements
Heart Rate-Monitoring
Distraction Monitoring System
Pressure/Angle Steering Sensor
Lane Departure System

Segmentation by Vehicle Type:

Passenger Cars (Compact, Mid-sized, Premium, and Luxury)
Commercial & Heavy Commercial Vehicles

Segmentation by Sales Channel:

OEM
Aftermarket

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