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Driver Drowsiness Monitoring System Market Size

Report ID: GMI11988
Published Date: Oct 2024
Report Format: PDF

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Driver Drowsiness Monitoring System Market Size

The global driver drowsiness monitoring system market size was valued at USD 2.6 billion in 2023 and is estimated to register a CAGR of 9.8% between 2024 and 2032. The increasing focus on road safety, coupled with rising incidents of accidents due to driver fatigue, has significantly propelled market growth. According to the National Highway Traffic Safety Administration (NHTSA) report published in 2023, 21% of all motor vehicle crashes resulting in fatalities and 13% of those leading to hospitalizations were recorded in U.S.

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Companies are increasingly investing in research and development while pursuing strategic acquisitions to enhance their market presence and capabilities. For instance, in March 2024, Smart Eye announced the signing of a significant contract for its AIS system, marking a major milestone in the commercial vehicle segment. This newly launched product demonstrated the industry's commitment to developing comprehensive hardware and software solutions for both original and aftermarket installation in commercial vehicles.

Driver Drowsiness Monitoring System Market Report Attributes
Report Attribute	Details
Base Year:	2023
Driver Drowsiness Monitoring System Market Size in 2023:	USD 2.6 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	9.8%
2032 Value Projection:	USD 6 Billion
Historical Data for:	2021 - 2023
No. of Pages:	175
Tables, Charts & Figures:	200
Segments covered:	Component, Vehicle, Sales Channel, Application
Growth Drivers:	Increasing focus on road safety Rising adoption of ADAS Technological advancement in AI and ML Growing commercial vehicle fleet
Pitfalls & Challenges:	Integration with legacy vehicles Data privacy and security concerns

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Additionally, the implementation of regulations such as the European Union's General Safety Regulation (GSR) has created a substantial market opportunity, particularly in the commercial vehicle sector. For instance, in October 2024, Smart Eye’s Commercial Vehicle (CV) Alert driver support system completed the homologation process with Solaris, certifying compliance with the EU’s General Safety Regulation (GSR). This regulation mandated the use of advanced drowsiness detection technologies in new commercial vehicles, including trucks and buses.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of driver drowsiness monitoring system reached USD 2.6 billion in 2023 and is set to grow at a 9.8% CAGR from 2024 to 2032, driven by increasing focus on road safety and rising incidents of accidents due to driver fatigue.

The hardware segment was valued at over USD 1.4 billion in 2023, attributed to the integration of sophisticated camera systems in modern vehicles for precise driver monitoring.

The passenger cars segment is anticipated to register a CAGR of over 8% during 2024 to 2032, fueled by rising consumer awareness regarding vehicle safety features.

North America dominated the market with a major share of over 35% in 2023, driven by the presence of leading automotive technology firms and stringent safety regulations.

The key players in the industry include Aptiv, Continental, Denso, Hella GmbH, Magna International, Panasonic, Robert Bosch, Volkswagen, Volvo Trucks, and ZF Friedrichshafen.