The economic conditions in entire Europe are good and people have the purchasing power to buy more sophisticated products.
The key technologies in the region are Image Sensing/Cameras, Pressure Mats, Infrared Sensing, Strain Gauges among others.Selected Value Chain Analysis done in the full report:• Driver Monitoring Market is predominantly business to business in nature.
Then along with the linear and• nonlinear components, these components are assembled in order to get the product working• which is then tested and verified in the next step.• There are two ways the business is performed.
This system has an added advantage that the latest technology can be accommodated to keep up the modified norms for driver safety measurement system and monitoring systems.To access / purchase the full report browse the link below:https://industryarc.com/pdfdownload.php?id=172Excerpts on Market Growth Factors• The global market for advanced driver assistance systems has grown substantially in the recent years, as vehicle companies have increased the safety content of their vehicles in response to the market and government regulations.• The current global driver monitoring systems market is estimated to propel with the growing number of vehicles on the road and the demand for safety from consumers coupled with government legislation (Europe) and other regulatory body requirements.• Safety norms are not the only reason for their high growth; growing personal safety concerns are also playing an imperative role in the rising demand for driver management softwares in passenger cars.• Sensors of various types form a major part of the vehicle monitoring systems, and their demand in the market is likely to experience rapid growth in the future.• Limited patent validity necessitates companies to come up with newer technologiesand innovative products to cater to the growing demand of the automotive technology.• Image Sensing/Cameras is the dominant segment for driver monitoring systems market.
It is anticipated to reach $1 b by 2023 growing at a CAGR of 11.8% throughout the forecast period • Pressure mats is projected to reach $844.80m by 2023 growing at a CAGR of 12.3% throughout the forecast period Key players of Driver Monitoring Systems Market:• The major acquisitions involved in this market are acquisition of ASL Vision by Continental Automotive, acquisition of Electronics Business of Johnson Controls by Visteon and many more.
Collaboration such as DENSO - NEC Corporation collaboration impacted on the growth of driver monitoring system market.• Since, scope of technology innovation is high; threat of new players in the market also increases correspondingly.