Global Demand for Driver Safety Systems Market Size Will Surpass $23.1 Bn by 2030 at 8.0% CAGR | Zion Market Research

Zion Market Research

[220+ Pages Report] The Global Driver Safety Systems Market size was is estimated to grow from $12.5 billion in 2022 to $23.1 billion by 2030, at a CAGR of 8.0% between 2023 and 2030. The key players covered in the report are TRW Automotive Holdings Corp, Takata Corp, Toyoda Gosei Co. Ltd, Autoliv Inc, Tokai Rika Co. Ltd, Delphi Automotive LLP, Hyundai Mobis, Nihon Plast Co. Ltd., Raytheon Co., FLIR Systems Inc., Continental AG, Hella KGaA Hueck & Co, and others.

NEW YORK, United States, May 25, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Driver Safety Systems Market By Type (Lane Departure Warning System, Driver Alertness Detection System, Vehicle-To-Vehicle Communication, Electronic Stability Control, Eye-Tracking/Blink-Monitoring, Pressure/Angle Steering Sensor, And Others), By Vehicle Type (Passenger And Commercial), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

How big is the Driver Safety Systems Industry?

“According to the latest research study, the demand of global Driver Safety Systems Market size & share in terms of revenue was valued at USD 12.5 billion in 2022 and it is expected to surpass around USD 23.1 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 8.0% during the forecast period 2023 to 2030.”

What is Driver Safety Systems?

Driver safety systems, also known as advanced driver assistance systems (ADAS), are technological innovations designed to make roads safer. These systems use sensors, cameras, and other advanced technology to assist drivers and reduce the risk of accidents. Common features include lane departure warning, collision warning, adaptive cruise control, and blind spot detection. Lane Departure Warning warns drivers when they unintentionally leave their lane, while Forward Collision Warning provides timely warnings when a potential collision is detected.

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• Introduction, Overview, and in-depth industry analysis are all included in the report.

• Provide detailed chapter-by-chapter guidance on Request

• Updated Regional Analysis with Graphical Representation of Size, Share, and Trends

• Includes Tables and figures have been updated

• The most recent version of the report includes the Top Industry Players, their Business Strategies, Sales Volume, and Revenue Analysis

• Zion Market Research Methodology

Global Driver Safety Systems Market Dynamics:

Growth Factors

Adaptive cruise control helps maintain a safe following distance, and blind spot detection warns drivers when the vehicle is in its blind spot. Driver safety systems are valuable tools that promote safer driving habits and significantly reduce traffic accidents and save lives on the road.

The global driver safety systems market is driven by the growing demand for enhanced driver experience and road safety. In order to enhance convenience and safety, these systems offer drivers advanced features like collision warning, adaptive cruise control, and blind spot detection.

Opportunities

There are opportunities for market expansion and innovation presented by the rising demand for these technologies.

Restraints

There are difficulties as well faced by the driver safety systems industry. Incorporating these frameworks into existing vehicles can be complicated and exorbitant. Standardization and regulation are also necessary to guarantee compatibility and consistent performance among various manufacturers. The successful adoption of driver safety systems and their widespread implementation depends on overcoming these obstacles.

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Report Scope

Report Attribute	Details
Market Size in 2022	USD 12.5 Billion
Projected Market Size in 2030	USD 23.1 Billion
CAGR Growth Rate	8.0% CAGR
Base Year	2022
Forecast Years	2023-2030
Key Market Players	TRW Automotive Holdings Corp, Takata Corp, Toyoda Gosei Co. Ltd, Autoliv Inc, Tokai Rika Co. Ltd, Delphi Automotive LLP, Hyundai Mobis, Nihon Plast Co. Ltd., Raytheon Co., FLIR Systems Inc., Continental AG, Hella KGaA Hueck & Co, East Joy Long Motor Airbag Co. Ltd., Tokai Rika Co. Ltd, and Infineon Technologies AG among others.
Key Segment	By Type, By Vehicle Type, and By Region
Major Regions Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options	Request customized purchase options to meet your research needs. Explore purchase options

Driver Safety Systems Market: Segmentation Analysis

The global driver safety systems market is segmented based on type, vehicle type, and region.

Based on type, the global market is segmented into lane departure warning systems, driver alertness detection systems, vehicle-to-vehicle communication, electronic stability control, eye-tracking/blink-monitoring, pressure/angle steering sensor, and others. The eye-tracking/blink-monitoring segment is expected to capture the largest revenue share over the forecast period. Eye-tracking technology allows real-time monitoring of the driver's gaze and attention, which allows for more accurate detection of driver fatigue, distraction, and sleep. This advanced feature is gaining traction because it can improve road safety and prevent accidents caused by driver negligence. Growing awareness of the importance of driver monitoring systems and continuous advancements in eye-tracking technology is driving the growth of this segment in the market.

Based on vehicle type, the driver safety systems industry is bifurcated into commercial and passenger vehicles. The passenger vehicles segment is expected to dominate the market during the forecast period. With an increasing focus on road safety and the growing demand for advanced safety features, car manufacturers are integrating driver safety systems into their vehicles. These systems offer better protection and comfort to passengers, improving their overall driving experience. In addition, increasing consumer awareness and government regulations emphasizing passenger safety are contributing to the steady growth of this segment.

The global Driver Safety Systems market is segmented as follows:

By Type

• Lane Departure Warning System

• Driver Alertness Detection System

• Vehicle-to-Vehicle Communication

• Electronic Stability Control

• Eye-tracking/Blink-monitoring

• Pressure/Angle Steering Sensor

• Others

By Vehicle Type

• Passenger

• Commercial

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Competitive Landscape

Some of the main competitors dominating the global Driver Safety Systems market include -

• TRW Automotive Holdings Corp

• Takata Corp

• Toyoda Gosei Co. Ltd

• Autoliv Inc

• Tokai Rika Co. Ltd

• Delphi Automotive LLP

• Hyundai Mobis

• Nihon Plast Co. Ltd.

• Raytheon Co.

• FLIR Systems Inc.

• Continental AG

• Hella KGaA Hueck & Co

• East Joy Long Motor Airbag Co. Ltd.

• Tokai Rika Co. Ltd

• Infineon Technologies AG

• Among Others.

 Key Insights from Primary Research:

• According to the analysis shared by our research analyst, the Driver Safety Systems market is likely to expand at a CAGR of around 8.0% during the forecast period (2023-2030).

• In terms of revenue, the Driver Safety Systems market size was valued at around US$ 12.5 billion in 2022 and is projected to reach US$ 23.1 billion by 2030.

• The growing number of fatalities across the globe in road accidents is expected to propel the market growth over the forecast period.

• Based on the type, the eye-tracking/blink-monitoring segment is expected to capture the largest revenue share over the forecast period.

• Based on the vehicle type, the passenger vehicles segment is expected to dominate the market during the forecast period.

• Based on region, the Asia Pacific region is expected to capture the largest market share over the forecast period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Driver Safety Systems industry?

• What are the main driving factors propelling the Driver Safety Systems Market forward?

• What are the leading companies in the Driver Safety Systems Industry?

• What segments does the Driver Safety Systems Market cover?

• How can I receive a free copy of the Driver Safety Systems Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030

• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

• Market Segmentation – A detailed analysis By Type, By Vehicle Type, and By Region

• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The Asia-Pacific region held the dominating driver safety systems market share in 2022 and is further projected to grow exponentially during the forecast period. Key factors behind this growth are rapid urbanization, rising disposable income, and road safety awareness. Governments in the region also impose strict safety requirements that encourage the adoption of driver restraint. The growing demand for passenger cars along with the advancement of automotive technologies is boosting the growth of the market.

In addition, the growing automotive industry in countries such as China, Japan, and South Korea creates a favorable environment for the development and integration of driver safety systems. In addition, the emphasis on intelligent transportation and the growing popularity of electric vehicles in the region will contribute to the expansion of the market. The Asia-Pacific region with its large population and growing vehicle sales offers significant opportunities for the development of the driver safety systems market.

By Region

• North America

  • U.S.

  • Canada

  • Rest of North America

• Europe

  • France

  • UK

  • Spain

  • Germany

  • Italy

  • Rest of Europe

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Rest of Asia Pacific

• The Middle East & Africa

  • Saudi Arabia

  • South Africa

  • Rest of the Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

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Recent Developments

• On February 10, 2023, Mobileye announced the development of a new Advanced Driver Assistance System (ADAS) System-on-Chip (SoC) EyeQ6. EyeQ6 is designed to offer higher performance and advanced features that improve object detection and classification and increase perception accuracy. This development demonstrates his Mobileye commitment to pushing the boundaries of ADAS technology and further improving road safety.

• On April 25, 2023, Bosch unveiled its latest driver safety innovation called Virtual Visor.  Virtual Visor replaces a car's traditional sun visor with a transparent LCD panel that uses AI algorithms to selectively block the sun's glare, ensuring optimal visibility for the driver. The technology aims to reduce driver distraction and improve road safety. The virtual visor demonstrates Bosch's commitment to integrating cutting-edge technology into the driver's safety system to provide a more comfortable and safer driving experience.

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