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Driver Alert System Market Size

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

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Driver alert system Market Size

Driver Alert System Market size was valued at USD 7.7 billion in 2022 and is anticipated to grow at a CAGR of 12% between 2023 and 2032. The rising integration of AI and machine learning in vehicles to deliver more accurate alerts and warnings along with enhanced analysis of driver behavior will drive the market growth. The emergence of various sophisticated technologies has steered greater consumer interest in vehicles deployed with ADAS features for driving comfort and safety. As per NSC Injury Facts, ADAS technologies offer the potential to limit 20,841 deaths annually, or around 62% of total traffic deaths.

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The rising development as well as deployment of semi-autonomous vehicles will enhance the demand for driver alert systems. Recent research estimates that approximately 8 million on the road vehicles would be autonomous or semi-autonomous by 2025. However, the higher implementation costs of advanced systems and limited accuracy in detecting driver fatigue or distraction due to environmental factors, such as lighting conditions may limit the product uptake to some extent.

Driver Alert System Market Report Attributes
Report Attribute	Details
Base Year:	2022
Driver Alert System Market Size in 2022:	USD 7.7 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	12%
2032 Value Projection:	USD 24.2 Billion
Historical Data for:	2018 to 2022
No. of Pages:	300
Tables, Charts & Figures:	262
Segments covered:	Vehicle Type, System Type, Component
Growth Drivers:	Increasing emphasis on road safety Rising consumer awareness of distracted and fatigued driving Rise in urbanization and traffic congestion Rapid technology advancement in driver alert system
Pitfalls & Challenges:	Data privacy concern

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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.