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Driver Override Systems Market Size to Reach USD 3.56 Billion by 2027; Industry Compound Annual Growth Rate of 17.03%

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Driver Override Systems Market Size to Reach USD 3.56 Billion by 2027; Industry Compound Annual Growth Rate of 17.03%

April 28
07:04 2021
Driver Override Systems Market Size to Reach USD 3.56 Billion by 2027; Industry Compound Annual Growth Rate of 17.03%

Driver Override Systems Market
Driver Override Systems Market Size – USD 1.01 Billion in 2018, Market Growth – CAGR of 17.03%, Market Trends – Increasing demand for autonomous driving vehicles has led to an increasing demand for Driver Override Systems globally.

The Global Driver Override Systems Market was valued at USD 1.01 Billion in 2018 and is projected to grow at a CAGR of 17.03% from 2019 to USD 3.56 Billion in 2026. Driver Override Systems refer to the smart pedal and brake override systems. It is a smart technology that is made up of sensors that recognize the mixed signals and electric malfunctions of the vehicle that are related to the fuel pedal and brake pedal. In cases where the accelerator or brake pedal is activated, it observes and eliminates the activation of the accelerator and thus stops the vehicle in a safe manner. This helps in avoiding any severe accidents and thus helps the driver in maneuvering the vehicle safely.  Rising demand for Driver Override systems in the autonomous driving vehicles is one of the factors attributing to the growth of the market over the forecasted period. Another factor that is adding to the growth of the market is the increasing demand for luxury and high end vehicles in developing as well as developed regions of the world. However, lack of awareness about the Driver Override Systems amongst the minds of the customers is the major factor restraining the growth of the market through 2026.

Autonomous Vehicles incorporate smart systems that help the vehicle maneuver safely on the road. Driver Override System is one such smart system that is incorporated in these autonomous vehicles. With the rise in the demand for autonomous driven vehicles, the demand for Driver Override Systems is forecasted to grow through 2026.

Another major trend that can help increase the demand for Driver Override Systems over the forecasted period is the switch from conventional powered vehicles to electric powered vehicles. Trends like this will majorly impact the demand through the forecasted period. The rise in the demand for electric vehicles will witness a huge growth of the electric vehicle segment as more and more vehicles will be fitted with Driver Override Systems in the coming future.

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Further key findings from the report suggest

  • The Global Driver Override Systems market is forecast to grow from USD 1.01 Billion in 2018 at a rate of 17.03% CAGR to reach a valuation of USD 3.56 Billion in 2026.
  • Rising demand for Driver Override systems in the autonomous driving vehicles is one of the factors attributing to the growth of the market over the forecasted period. Another factor that is adding to the growth of the market is the increasing demand for luxury and high end vehicles in developing as well as developed regions of the world.
  • Passenger car segment is forecasted to occupy the largest share of the market in 2026 on account of rising demand for vehicles from the customers. Reforms related to the scrapping of conventional powered vehicles and the switch to electric cars is the major factor attributing to the large share of the segment. The Passenger vehicle segment accounted to USD 3.01 Billion in the European region in 2018.
  • Many leading traffic safety organizations like the National Highway Traffic Safety Administration (NHTSA) in the U.S. have concluded that the possibility of a stuck accelerator pedal is a serious case for a potential hazard. Studies like these will help customers become aware of the hazards of the stuck accelerator pedal and thus an increase in demand for Driver Overrride Systems will be witnessed.
  • North America region is forecasted to occupy the largest share in the market in 2026 on account of high demand for safe and efficient vehicles in the region. The region is forecasted to grow to USD 1.501 Billion in 2026.
  • Toyota is one of the major players in the global driver override systems market and is forecasted to maintain its position till 2020 on account of the recent developments of the company in current years.
  • Key participants include Honda (Japan), Toyota (Japan), Nissan (Japan), Hyundai (South Korea), Ford (U.S.), BMW AG (Germany), Robert Bosch AG (Germany), AB Volvo (Sweden), Suzuki Motor Corp. (Japan), Renault (France).

For the purpose of this study, Reports and Data have segmented the Driver Override Systems Market on the basis of Sensor Technology, Vehicle, Propulsion, and Region:

Technology (Revenue, USD Million; 2016–2026)

  • Infrared Sensor
  • Laser Sensor
  • Image Sensor
  • Radar Sensor
  • Ultrasonic Sensor
  • LiDAR Sensor

Vehicle (Revenue, USD Million; 2016–2026)

  • Passenger Vehicle
    • Mid-sized car
    • Sedan
    • Minivan
    • Convertible
    • Crossover
    • Hatchback
    • Others
  • Light Commercial Vehicle (LCV)
    • Compact
    • Utility Vehicle
    • Supermini
    • Light Truck
    • Others
  • Heavy Commercial Vehicle (HCV)
    • Mobile Truck
    • Limo
    • Recreational Vehicle
    • Towing Truck
    • Fire Trucks
    • Others

Propulsion (Revenue, USD Million; 2016–2026)

  • Electric
  • Battery Electric Vehicle
  • Fuel Cell Electric Vehicle
  • Hybrid Electric Vehicle
  • Plug-in Hybrid Electric Vehicle
  • Petrol
  • Diesel

Components (Revenue, USD Million; 2016–2026)

  • Sensors
  • ECU
  • Others

Regional Outlook (Revenue in USD Million; 2016–2026)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia-Pacific
  • Rest of the World
    • Middle East & Africa
    • Latin America

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Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique

Chapter 2. Executive Summary
    2.1. Introduction
    2.2. Summary Snapshot, 2016 – 2026
    2.3. Assumptions
    2.4. Limitations

Chapter 3. Indicative Metrics
    3.1. Growing Automotive Industry
    3.2. Rising demand for electric vehicles

Chapter 4. Global Driver Override Systems Market Segmentation & Impact Analysis
    4.1. Global Driver Override Systems Segmentation Analysis
    4.2. Industrial Outlook
         4.2.1. Market Indicators Analysis
         4.2.2. Market Drivers Analysis
                 4.2.2.1. Rise in the demand for autonomous driving vehicles
                 4.2.2.2. Increasing demand for luxury and high end vehicles
        4.2.3. Market Restraints Analysis
                4.2.3.1. Lack of awareness amongst customers
        4.2.4. Market Opportunities Analysis
    4.3. Regulatory Framework
    4.4. Porter’s Five Forces Analysis
    4.5. PESTEL Analysis of Driver Override Systems market

Chapter 5. Global Driver Override Systems Market, Technology Insights & Trends

Chapter 6. Global Driver Override Systems Market, Vehicle Type Insights & Trends

Chapter 7. Global Driver Override Systems Market, Propulsion Insights & Trends

Chapter 8. Global Driver Override Systems Market, Component Insights & Trends

Chapter 9. Global Driver Override Systems Market Regional Outlook

Chapter 10. Competitive Landscape
    10.1. Overview
    10.2. Market Revenue Share by Manufacturers
    10.3. Strategic Benchmarking
    10.4. Vendor Analysis

Chapter 11. Company Profiles
    11.1. Honda
           11.1.1. Company Overview
           11.1.2. Financial Insights
           11.1.3. Products Offered
           11.1.4. Strategic Initiatives
    11.2. Toyota
           11.2.1. Company Overview
           11.2.2. Financial Insights
           11.2.3. Products Offered
           11.2.4. Strategic Initiatives
    11.3. Nissan
            11.3.1. Company Overview
            11.3.2. Financial Insights
            11.3.3. Products Offered
            11.3.4. Strategic Initiatives
    11.4. Hyundai
           11.4.1. Company Overview
           11.4.2. Financial Insights
           11.4.3. Products Offered
           11.4.4. Strategic Initiatives
    11.5. Ford
           11.5.1. Company Overview
           11.5.2. Financial Insights
           11.5.3. Products Offered
           11.5.4. Strategic Initiatives
    11.6. BMW AG
           11.6.1. Company Overview
           11.6.2. Financial Insights
           11.6.3. Products Offered
           11.6.4. Strategic Initiatives
    11.7. Robert Bosch
           11.7.1. Company Overview
           11.7.2. Financial Insights
           11.7.3. Products Offered
           11.7.4. Strategic Initiatives
    11.8. AB Volvo
            11.8.1. Company Overview
            11.8.2. Financial Insights
            11.8.3. Products Offered
            11.8.4. Strategic Initiatives
    11.9. Suzuki Motor Corp.
           11.9.1. Company Overview
           11.9.2. Financial Insights
           11.9.3. Products Offered
           11.9.4. Strategic Initiatives
    11.10. Renault
              11.10.1. Company Overview
              11.10.2. Financial Insights
              11.10.3. Products Offered
              11.10.4. Strategic Initiatives

Continued…

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