The Latin America, Middle East and Africa Driver Monitoring Systems Market should witness market growth of 15.3% CAGR during the forecast period (2023-2029).
The Driver Monitoring Systems market is expected to experience growth due to the increasing need for road safety in automobiles, particularly concerning driver attentiveness and the strict government regulations surrounding driver monitoring. The market is also influenced by a rise in road accidents. The automotive industry has prioritized passenger and driver safety by implementing safety measures like a driver monitoring system.
Additionally, government regulations mandating the use of these safety devices have contributed to market growth. Individuals tend to alter their conduct merely by being aware of being under observation. DMS offers driver monitoring tools to enhance driver self-awareness of their behavior. Having safer drivers results in a reduction in accidents, which in turn helps to mitigate insurance-related concerns. A potential benefit is reducing accident-related issues, including vehicle damage, delays, and associated costs. DMS technology provides real-time access to fleet information by utilizing vehicle monitoring devices, such as GPS-integrated cameras, such benefits are expected to surge the market growth.
Frequent maintenance may be necessary for trucks that experience sharp braking, rapid accelerations, rough turns, or other comparable driving habits. But DMS can offer valuable data for analyzing driver behavior and routes, enabling the development of fuel reduction and downtime avoidance strategies, which can also decrease the requirement of frequent vehicle maintenance. Simultaneously, some DMS endeavors prioritize eco-friendliness and optimize productivity.
The rise in business and investments resulting from increased migration from neighbouring countries is expected to drive sales of light commercial vehicles. Meanwhile, sales of heavy commercial vehicles will be sustained by the ongoing infrastructure and construction projects. In addition, the bus and minibus industry in the UAE is expected to experience positive growth due to the rise in tourism and hospitality activities and an increase in demand from construction workers. Thus, with the increasing automotive sector and the high spending power of the region, the adoption of the driver monitoring system for safer driving is expected to surge the market in the region.
The Brazil market dominated the LAMEA Driver Monitoring Systems Market by Country in 2022; thereby, achieving a market value of $81.1 million by 2029. The Argentina market is showcasing a CAGR of 15.9% during (2023-2029). Additionally, The UAE market would register a CAGR of 15% during (2023-2029).
Based on Vehicle Propulsion, the market is segmented into ICE Vehicles and Electric Vehicles. Based on Sales Channel, the market is segmented into OEM and Aftermarket. Based on Component, the market is segmented into Sensors, Cameras and Others. Based on Type of Monitoring, the market is segmented into Driver State Monitoring and Driver Health Monitoring. Based on Vehicle type, the market is segmented into Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Continental AG, Denso Corporation, Robert Bosch GmbH, NXP Semiconductors N.V., Panasonic Holdings Corporation, ZF Friedrichshafen AG, Intel Corporation, Hitachi, Ltd., Valeo SA and Renesas Electronics Corporation
The Driver Monitoring Systems market is expected to experience growth due to the increasing need for road safety in automobiles, particularly concerning driver attentiveness and the strict government regulations surrounding driver monitoring. The market is also influenced by a rise in road accidents. The automotive industry has prioritized passenger and driver safety by implementing safety measures like a driver monitoring system.
Additionally, government regulations mandating the use of these safety devices have contributed to market growth. Individuals tend to alter their conduct merely by being aware of being under observation. DMS offers driver monitoring tools to enhance driver self-awareness of their behavior. Having safer drivers results in a reduction in accidents, which in turn helps to mitigate insurance-related concerns. A potential benefit is reducing accident-related issues, including vehicle damage, delays, and associated costs. DMS technology provides real-time access to fleet information by utilizing vehicle monitoring devices, such as GPS-integrated cameras, such benefits are expected to surge the market growth.
Frequent maintenance may be necessary for trucks that experience sharp braking, rapid accelerations, rough turns, or other comparable driving habits. But DMS can offer valuable data for analyzing driver behavior and routes, enabling the development of fuel reduction and downtime avoidance strategies, which can also decrease the requirement of frequent vehicle maintenance. Simultaneously, some DMS endeavors prioritize eco-friendliness and optimize productivity.
The rise in business and investments resulting from increased migration from neighbouring countries is expected to drive sales of light commercial vehicles. Meanwhile, sales of heavy commercial vehicles will be sustained by the ongoing infrastructure and construction projects. In addition, the bus and minibus industry in the UAE is expected to experience positive growth due to the rise in tourism and hospitality activities and an increase in demand from construction workers. Thus, with the increasing automotive sector and the high spending power of the region, the adoption of the driver monitoring system for safer driving is expected to surge the market in the region.
The Brazil market dominated the LAMEA Driver Monitoring Systems Market by Country in 2022; thereby, achieving a market value of $81.1 million by 2029. The Argentina market is showcasing a CAGR of 15.9% during (2023-2029). Additionally, The UAE market would register a CAGR of 15% during (2023-2029).
Based on Vehicle Propulsion, the market is segmented into ICE Vehicles and Electric Vehicles. Based on Sales Channel, the market is segmented into OEM and Aftermarket. Based on Component, the market is segmented into Sensors, Cameras and Others. Based on Type of Monitoring, the market is segmented into Driver State Monitoring and Driver Health Monitoring. Based on Vehicle type, the market is segmented into Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Continental AG, Denso Corporation, Robert Bosch GmbH, NXP Semiconductors N.V., Panasonic Holdings Corporation, ZF Friedrichshafen AG, Intel Corporation, Hitachi, Ltd., Valeo SA and Renesas Electronics Corporation
Scope of the Study
By Vehicle Propulsion
- ICE Vehicles
- Electric Vehicles
By Sales Channel
- OEM
- Aftermarket
By Component
- Sensors
- Cameras
- Others
By Type of Monitoring
- Driver State Monitoring
- Driver Health Monitoring
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Continental AG
- Denso Corporation
- Robert Bosch GmbH
- NXP Semiconductors N.V.
- Panasonic Holdings Corporation
- ZF Friedrichshafen AG
- Intel Corporation
- Hitachi, Ltd.
- Valeo SA
- Renesas Electronics Corporation
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. LAMEA Driver Monitoring Systems Market by Vehicle Propulsion
Chapter 5. LAMEA Driver Monitoring Systems Market by Sales Channel
Chapter 6. LAMEA Driver Monitoring Systems Market by Component
Chapter 7. LAMEA Driver Monitoring Systems Market by Type of Monitoring
Chapter 8. LAMEA Driver Monitoring Systems Market by Vehicle Type
Chapter 9. LAMEA Driver Monitoring Systems Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- Continental AG
- Denso Corporation
- Robert Bosch GmbH
- NXP Semiconductors N.V.
- Panasonic Holdings Corporation
- ZF Friedrichshafen AG
- Intel Corporation
- Hitachi, Ltd.
- Valeo SA
- Renesas Electronics Corporation
Methodology
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