Europe Driver Safety Market

Europe Driver Safety Market Size (2022-2027):

The Europe Driver Safety Market was worth US$ xx billion in 2021 and is anticipated to reach a valuation of US$ xx billion by 2027 and is predicted to register a CAGR of x.x% during 2022-2027.

Driver safety involves products, solutions, and services used to maintain road discipline and prevent accidents. Products include traffic control cameras, incident response, and detection systems, while services cover the installation, maintenance, and repair of these systems. All of these solutions help keep travellers safe. The growing need for public safety and the improvement of road infrastructure should boost the market in the coming years.

Market Drivers:

The driver safety market in Europe is mainly driven by the growing need to increase safety for driving individuals in the automotive industry. Increased competition in the automotive industry and demand for safety-related systems will likely increase the need for driver safety systems over the forecast period.

Increased public awareness of safety solutions, such as driver fatigue and distraction monitoring systems, is likely to result in a substantial increase in demand for these systems and could influence the purchasing behaviour of consumers in the near future. The passenger car segment is presumed to register the highest portion of the European distraction monitoring market. This can be attributed to strict safety standards in Europe, such as the mandatory incorporation of advanced emergency braking systems and lane departure warning systems in heavy vehicles.

The increasing number of traffic accidents and fatigue victims is an urgent problem for mine operators. Several mining operators and OEMs have already integrated systems to monitor driver fatigue and distraction in vehicles to overcome this problem.

Market Restrictions:

Key factors that limit the growth of the European driver safety market include the high cost of the system and its complex nature.

Market Opportunities:

Several heavy vehicle drivers who are only allowed to drive in the dark and on a dangerous route often experience fatigue and distraction, resulting in accidents. As a result, the demand for driver fatigue and distraction monitoring systems among commercial vehicles is likely to increase.

EUROPE DRIVER SAFETY MARKET REPORT COVERAGE:

Market segmentation:

Europe Driver Safety Market - By Technology:

• Eye tracking/Blink-Monitoring
• Facial Expressions/Head Movements
• Heart Rate Monitoring
• Pressure/Angle Steering Sensor
• Lane Departure Warning

Europe Driver Safety Market - By Vehicle Type:

• Passenger Cars
• Commercial Vehicles

Depending on the type of vehicle, passenger cars account for a prominent share in the European driver safety market, owing to the rising demand from consumers to have a more protected environment in their vehicles. However, the commercial vehicles segment will likely witness a massive spike in its market due to the augmenting applications and trade activities around the European region in recent years.

Market Regional Analysis:

• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe

Europe had a substantial share of the world driver safety market in 2018, and it accounted for more than 27.0% of overall revenues. The local market is also likely to continue to dominate over the forecast period, due to the early adoption of technology and improvements in road infrastructure. The region is characterized by the presence of several service providers, equipment manufacturers, and a large clientele. Companies such as Kapsch TraficCom, Sensys Gatso Group AB, and Jenoptik are based in the region, which contributes significantly to its dominant market share.

Market Key Players:

1. Robert Bosch GmbH
2. Continental AG
3. Denso Corporation
4. Infineon Technologies
5. Smart Eye AB
6. Magna International Inc.
7. Valeo S.A.
8. Seeing Machines
9. Tobii AB
10. Optalert PTY Ltd

Research Report Key Highlights:

•  A full context analysis, which includes an evaluation of the parent market
•  Significant changes in market dynamics.
• Market segmentation in the second or third level.
• Historical market size, current and projected in terms of value and volume.
• Reports and evaluation of recent industry developments.
• Market shares and strategies of the main actors.
• Niche of emerging segments and regional markets.
• An objective evaluation of the market trajectory.
• Recommendations to companies to strengthen their presence in the market.