The global driver safety systems market size was worth around USD 12.5 Billion in 2022 and is predicted to grow to around USD 23.1 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 8.0% between 2023 and 2030.
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➤ The market is expanding due to advancements in the sensor.
The majority of the sensors utilized in ADAS systems, such as radar, image, ultrasonic, and LiDAR, are capable of performing numerous functions and consume a significant amount of energy. In order to circumvent these constraints, researchers are incorporating a variety of sensors to generate reliable and efficient output. Nevertheless, each sensor has its own set of constraints. These numerous sensor systems enhance system dependability without compromising security. Furthermore, there is a significant amount of research and development being conducted in the field of sensing technology to enhance its capacity to withstand severe environmental conditions, consume less energy, and leave a smaller carbon footprint. DENSO introduced a linear LIDAR that possesses horizontal beam scanning capabilities.
➤ The market’s expansion is hindered by the high cost of development.
The demand for data transport is increasing due to the proliferation of electronic systems in contemporary vehicles. Consequently, manufacturers are dedicating significant resources to the development of innovative technology systems. Systems such as adaptive cruise control, lane-keeping assistance, parking aid, and accident prevention are dependent on a variety of sensors located throughout the vehicle. The expansion of the driver safety systems market is being restricted by the increasing cost of the ADAS system, which is a result of the development of increasingly sophisticated sensors.
➤ A lucrative opportunity is presented by new technology and infrastructure.
The driver safety systems market may experience market expansion as a result of the development of new technology and vehicular infrastructure by a variety of companies for their automobiles. Automatic emergency braking, road signs, lane departure warning, lane assist, pedestrian detection, self-driving cars, adaptive cruise control, adaptive light control, automatic parking, autonomous valet parking, navigation systems, crosswind stabilization, driver monitoring systems, and emergency driver assistants are all technologies that could assist more drivers in driving more efficiently and enable manufacturers to meet the increasing demand from consumers.
➤ The system’s malfunctioning presents a significant obstacle.
The system’s electronic components may malfunction and generate inaccurate data. Furthermore, the high risk of cyber security threats and the difficult system handling may pose a threat to both the vehicles and the passengers. System defects or deliberate or unintentional errors may jeopardize the safety and life of users. Consequently, it is anticipated that this will pose a substantial obstacle to the growth of the driver safety systems market.
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The Global Driver Safety Systems Market is segmented based on product, application and region
Global Driver Safety Systems Market: Product Segment Analysis
● Lane Departure Warning System
● Driver Alertness Detection System
● Vehicle-to-Vehicle Communication
● Electronic Stability Control
● Eye-tracking/Blink-monitoring
● Pressure/Angle Steering Sensor
● Others
Global Driver Safety Systems Market: Application Segment Analysis
● Passenger
● Commercial
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The global Driver Safety Systems market profiles key players such as:
● 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
???? Recent Developments:
• Qualcomm Technologies, Inc. introduced the Snapdragon RideTM Flex SoC in January 2023, marking the latest addition to the Snapdragon® Digital ChassisTM product line. The Flex SoC’s engineering, which supports mixed-criticality workloads across heterogeneous computational resources, enables the digital cockpit, ADAS, and AD functions to coexist on a single SoC. The Flex SoC is engineered to satisfy the most stringent automotive safety standards and is furnished with an Automotive Safety Integrity Level D (ASIL-D) safety island.
• In January 2022, DENSO, a prominent mobility provider, announced the development of the Global Safety Package 3*1, an active safety system that is designed to improve the environmental sensing capabilities of vehicles, thereby enhancing their safety. This product is utilized by the Toyota Noah and Voxy, Lexus NX, Hino Ranger, and Lexus ES.
➤ It is anticipated that the Asia Pacific region will secure the highest market share during the forecast period.
It is anticipated that the Asia Pacific region will hold the highest global market share for driver safety systems during the forecast period. The region’s expansion is primarily due to the expansion of the automotive industry, particularly in China and India. In 2020, China sold over 20.17 million passenger cars, a 5.89% decrease from the previous year. This is one of the largest auto markets in the globe. The Chinese auto industry presents an extraordinary opportunity for predictive technology to establish itself, as China remains one of the world’s top vehicle exporters, despite the pandemic.
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