Driver Profiling System Market: Introduction
- Driver profiling system is designed to predict the risk level for a driver on the road. It is a computerized and simulated risk assessment tool that helps assess the vehicle driver better and gauge the overall risk. Driver profiling measures the psychometric, demographic, and behavioral factors that influence the risk levels to the driver on the road.
Key Drivers of Driver Profiling System Market
- Rise in use of shared mobility is driving the need for driver profiling systems. Currently, people travel is likely to prefer more toward shared mobility options such as car hailing, leasing, and subscription services moving forward in the next few years. This trend is anticipated to pick up further. A consequence of this shift is a frequent change of the cars people drive; accordingly, people are expected to drive cars they are not familiar with, resulting in potential safety hazards, such as not able to identify the use of windscreen wipers or the reverse gear; no standard has been implemented. Consequently, an intelligent driver profiling system for cars identifying the user and adjusting car characteristics based on the user's preferences, thereby increases safety as well as customer satisfaction.
Challenges in Driver Profiling System Market
- The COVID-19 pandemic has affected national as well as international automotive supply chains, manufacturing, and R&D operations and consequently, hampered the automotive industry. Post first wave of COVID-19 global economies have started opening up automotive manufacturing and supply chain operations. Thus, the COVID impact on the industry have seems to reach a state of normalcy; however, a resurgence in COVID-19 cases in countries across Europe has prompted governments to impose a second round of lockdown restrictions and hence, uncertainty in the automotive industry continues. A gradual recovery in the demand for automotive and ancillaries is anticipated in the next few months despite concerns around the risk of a second wave of infection in numerous countries and other geopolitical risks.
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Opportunities in Driver Profiling System Market
- Interest in monitoring vehicles and driving data, which aims to identify risky driving maneuvers and improve driver efficiency, has been increasing for the last few years. Such a driver profiling system can be useful for fleet management and insurance companies to identify drivers that pose high risk. Furthermore, it can help identify targeted training required by drivers, recruit better and safer drivers, reduce insurance costs by lowering risk, reduce the risk of crashes and injuries on road, reduce the cost of unscheduled maintenance. This, in turn, is estimated to improve overall cost of business operations, safety, and optimize fuel consumption or CO2 emission reduction. Adoption of driving profiling systems is anticipated increase in the next few years owing to the benefits offered by this technology, which is projected to further fuel the market.
Driver profiling system market in Asia Pacific to expand at a notable growth rate
- Penetration of driver profiling system technology in North America is higher as compared to that in other regions. 80% of heavy, off-road pieces of equipment produced in the U.S. have been equipped with equipment monitoring technology since 2009. As of March 2017, telematics systems must be installed in all new passenger and light-duty federal vehicle acquisitions as well as in medium-duty vehicles where appropriate. The executive order also requires federal fleets to account for data in a fleet management information system (FMIS), acquire electric vehicles, and plan for fueling infrastructure, all within the context of increasing safety and reducing greenhouse gas emissions per mile. These factors are anticipated to collectively drive the penetration of driver profiling technology in the region.
Key Players Operating in Driver Profiling System Market
The global driver profiling system market is moderately concentrated due to the presence of top manufacturers. A few of the key players operating in the global driver profiling system market are:
- NEC Corporation
- Visteon Corporation
- Johnson Controls Inc.
- Delphi Automotive PLC
- ALD Automotive
- Fluke Process Instruments.
- E-Training world Limited
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Global Driver Profiling System Market: Research Scope
Global Driver Profiling System Market, by Product
- Online Driver Profiling
- Onsite Driver Profiling
Global Driver Profiling System Market, by Product
- Light commercial vehicles
- Bus/coach (PCVs)
Global Driver Profiling System Market, by Application
- Fleet Owners
- Fleet Managers
- HR Managers
- Training Managers
- Logistics Managers
Global Driver Profiling System Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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