By using our site you accept the terms of our cookie policy

Search

$4.20 Billion Driver Safety Market 2016

October 6, 2016

Image

Research and Markets has announced the addition of the "Driver Safety Market for Passenger Cars by Technology, Off-Highway Vehicle, and Region - Global Forecast to 2025" report to their offering.

"Growing health and safety concerns and technological advancements in the automotive sector are expected to fuel the demand for driver safety systems for both, passenger cars and off-highway vehicles."

The driver safety market is projected to grow at a CAGR of 6.24%, to reach a market size of USD 3.20 billion by 2025. Key factors driving the growth of the driver safety market are increasingly stringent safety regulations and the rising demand for luxury and comfort in the passenger car segment. Factors restraining the growth of the driver safety market include the high cost of the system and its complex nature.

"Distraction monitoring systems constitute the largest segment of the passenger car driver safety market"

The adoption of distraction monitoring systems in passenger cars is expected to increase gradually and shift from the high-end passenger car segment to the mid segment. This can be attributed to the increasing pressure from regional governments to include safety systems for drivers and passengers to prevent fatalities caused by driver drowsiness and fatigue. Additionally, the rising number of road fatalities caused by driver distraction will likely lead to stringent regulations that would increase the demand for these systems in coming years.

"The mining segment of the driver safety market is expected to register the fastest growth rate"

The mining industry involves long shifts, monotonous and dangerous routes, and extreme work conditions and working hours. These factors contribute significantly to driver fatigue and distraction, which can result in serious threats to the life of the driver and losses to mine operators. This has led to an increase in the demand for driver fatigue and distraction monitoring systems in the mining industry.

Contact Us

+44 (0) 203 725 6841