The smart vehicle cabins market is expected to grow at a CAGR of 9.5% during the forecast period of 2024 to 2032. Intelligent vehicle cabin system comprises In-Cabin Monitoring System (ICMS) or multiple sub-systems, such as Driver Monitoring System (DMS) and Occupant Monitoring System (OMS) (OMS). These subsystems could be autonomous systems with their own sensors and processing units, or they could have a central processing unit. Automobile interiors have undergone significant change over the past several years. In terms of safety, convenience, and pleasure, they now offer a superior experience. Smart cabins or intelligent cabins refer to contemporary vehicle interiors with smart surfaces, multi-modal inputs, wireless connectivity, and multiple functionalities. Smart vehicle cabins feature displays, HVAC, speakers, lighting, and sensors as their primary components. A rise in demand for connected, autonomous, and intelligent vehicle technologies is anticipated to stimulate the global smart vehicle cabin market in the near future. The intelligent vehicle cabin's primary functions are fleet management, driver or passenger monitoring, and vehicle tracking. Enhanced vehicle safety awareness contributes to market expansion.
Customers are more likely to purchase vehicles equipped with advanced safety features. Consequently, the global demand for vehicles of the following generation is growing. There are numerous benefits of AI-powered cabins, including enhanced driver experience and safety, as well as intelligent in-car assistance. To improve the driving and passenger experiences, automakers are incorporating cutting-edge technologies into their vehicles. MBUX Interior Assistant by Daimler AG uses a gesture input system based on artificial intelligence to improve the interaction between vehicle occupants and the vehicle. This combination of advanced technologies and rising demand for next-generation vehicles is expected to increase the global market share for smart vehicle cabins during the forecast period.
The number of motorized vehicles is steadily increasing worldwide. An increase in the purchasing power of consumers, a rise in the production of vehicles, and an increase in transportation as a result of rapid urbanization and industrialization in developing nations are significant contributors to the increase in the number of on-road vehicles. Multiple governments are implementing road safety measures to decrease traffic congestion and road accidents. In the coming years, a greater awareness of vehicle safety is likely to increase the demand for smart cabin systems that are efficient.
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According to the National Highway Traffic Safety Administration, there were 6.5 million traffic accidents in the United States in 2017. Recent estimates indicate that approximately 31,785 people will perish in traffic accidents during the first nine months of 2023. The majority of these collisions were brought on by drivers who were distracted. It is anticipated that this will increase the demand for efficient in-cabin monitoring systems, such as live presence detection, vital sign monitoring, and passenger classification.
During the forecast period, the passenger vehicle segment is expected to lead the global market for smart vehicle cabins in terms of vehicle type. The global demand for passenger vehicles, including hatchbacks, sedans, and utility vehicles, is steadily increasing. Automobile manufacturers are currently incorporating intelligent cabins into passenger vehicles. The passenger vehicle segment is primarily driven by the global increase in passenger vehicle production and the population's rising disposable income.
North America dominated the global market for smart vehicle cabins in 2023, according to the global market analysis report. The region is expected to maintain its pre-eminence throughout the forecast period. This is a result of Daimler AG, BMW AG, and Tesla's continued development of next-generation vehicles with intelligent cabin technology in the region. In addition, a rise in the purchasing power of the populace is driving the expansion of the market for smart vehicle cabins in the region. During the forecast period, the Asia-Pacific market for intelligent vehicle cabins is anticipated to expand due to the rising demand for automobiles with enhanced safety features.
Using sophisticated telematics solutions, market leaders are developing intelligent vehicle cabin systems. Manufacturers are adopting lucrative trends in the market for intelligent vehicle cabins. They are developing new cloud-based technologies for managing vehicle data. Moreover, partnerships, joint ventures, and mergers & acquisitions drive the market statistics of leading companies.
The global market is highly concentrated, with a large number of prominent players controlling a substantial market share. These rivals are adopting cutting-edge technologies to boost their revenue. They are expanding their product line through collaborations and partnerships.
In the smart vehicle cabin market, HARMAN International, Analog Devices, Inc., BlackBerry Limited, HYUNDAI MOBIS, Panasonic Corporation, SenseTime, Texas Instruments Incorporated, Valeo, Jungo, Xilinx, Xperi Corporation, Yanfeng Automotive Interiors, General Motors, Jaguar (JRL), NXP Semiconductors NV, Bitsensing Inc., Robert Bosch Inc., Infineon Technologies, Denso Corporation, and Among the few recent market developments are:
