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Driver Alert System Market Trends

Report ID: GMI6467
Published Date: Aug 2023
Report Format: PDF

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Driver Alert System Market Trends

The burgeoning government and regulatory support, such as the WHO and the UN to limit the number of road accidents and fatalities with improved road safety will prove favorable for the industry growth. To quote an instance, in March 2023, the Delaware Department of Transportation (DelDOT) installed a wrong way driving detection as well as alert system for alerting and correcting wrong way drivers before entering the highway. The growing adoption of advanced driver alert systems to predict driver fatigue and distraction, including IoT-based smart alert systems for drowsy driver detection, will add to the industry expansion.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of driver alert system was reached USD 7.7 billion in 2022 and is set to register 12% CAGR through 2023-2032, due to the rising integration of AI and machine learning in vehicles worldwide.

The passenger vehicle segment held over 60% of the market share in 2022, impelled by the rising ownership of passenger vehicles along with the growing emphasis on drowsiness detection.

North America market registered 25% of revenue share in 2022, due to the growing support from government agencies and safety organizations to mandate the inclusion of safety features in new vehicles.

Some of the influential driver alert system companies are Continental AG, DENSO Corporation, Magna International Inc., Robert Bosch GmbH, Valeo SA, Visteon Corporation, and ZF Friedrichshafen AG.