Global Automotive Teen Driver Technology Market- 2019-2027
Posted by rahul on February 20th, 2021
The global automotive teen driver technology market to reach USD XX Mn. by the end of 2027.
The report covers the current market growth factors, real-world examples of features that driving the market, by region and vehicle type. The report provides an analysis of key strategies in the market with new opportunities and regional challenges in the market. It identifies the top key players in the markets with details of existing strategies, profiles, and recent development.
Global automotive teen driver technology market is segmented by vehicle type into passenger vehicle and commercial vehicle
The Ford “My Key” technology
MyKey technology plays an important role in helping the customer to teach their teen to drive responsibly. When a young driver is operating the vehicle, the system can perform tasks such as directing all incoming phone calls to voicemail, chiming repeatedly until the front seat belts are fastened, and ensuring that the car doesn't surpass a preset top speed.
Chevrolet Teen Driver
The Chevrolet has equipped many of its newer models with Teen Driver technology, which is a built-in system that is designed to assist customers with coaching their new driver. Chevrolet is the first automaker to provide an in-vehicle report card to monitor the system for teen’s driving. To encourage good driving habits while teens are behind the wheel, the company offers Teen Driver technology on most of its models including Cruze, Malibu, Suburban, Tahoe, Colorado, Traverse, and others.
Hyundai Blue Link
The system comes with many safeguards features to monitor teen drivers. Based on the fact that teens take fewer risks when driving with monitoring devices, the technology encourages the teen to have great driving habits. The customer can set limits on the car's speed, incoming communications, hours of operation, and more.
The passenger vehicle segment has the largest market share of xx% in 2019 and is expected to grow at a CAGR of xx% in the forecast period.
The passenger vehicle holds a dominant position in the market and will maintain this position over the forecast period. Demand for a passenger vehicle is increasing, thanks to the growth in disposable income and customer’s preference towards the personal vehicle. The passenger vehicle segment is estimated to grow at a CAGR of xx% during the forecast period. The detailed analysis of the segment with vehicle type, market size, region, along government regulation is covered in the report.
Global Automotive Teen Driver Technology Market
The sales channel segment is divided into OEM, Aftermarket.
The increasing road safety awareness and government regulations are creating new opportunities for the growth of Automotive Teen Driver Technology in the forecast period. The automotive teen driver technology is majorly implemented in the vehicle by OEM and is expected to maintain the growth of the OEM segment in the forecast period. The aftermarket segment is expected to grow with technological advancement in software and hardware integration in-vehicle technology. In some areas for a variety of applications, aftermarket devices are used to enable some safety features. The Aftermarket segment is expected to grow at xx% CAGR between 2019 and 2027.
Global Automotive Teen Driver Technology Market 1
The global automotive teen driver technology market is by region into Asia Pacific, North America, Europe, South America, and Middle East & Africa.
North America commands the market growth, with a CAGR of xx% in 2019-2027.
North America the automotive teen driver technology market is expected to grow at a high growth rate over the forecast period. Growth in vehicle demand, increasing household income, large young population, consumer’s acceptance of new technology, and rising vehicle driving norms are driving the market in the forecast period. Major key players have their research and development facilities in the region also, the growth of electronics devices and smart driving technology is propelling the growth of the market in North America.
The Asia Pacific region is expected to grow at a significant growth rate during the forecast period.
The growing young population and development of gross income of people in countries like China and India. China and India are the largest producers as well as consumers of vehicles, which is expected to drive the automotive teen driver technology market during the forecast period. These countries have a large young population and governments these countries implementing stringent rules for driving vehicles for safety, which increases the demand for safety features. The increasing demand for safety features is driving the automotive teen driver technology market.
The modern vehicle comes along with advance electrical and safety features. The electrification of the system enables scope for future up-gradation of safety technology. The automotive teen driver technology is used to maintain drivers' reports such as driving behavior, history, and other details. It is used for maintaining safety and improving the driving behavior of the driver and programming the system according to it. The factors driving the market along with new opportunities, challenges, and restraints are covered in the report.
The objective of the report is to present a comprehensive analysis of the Global Automotive Teen Driver Technology Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Automotive Teen Driver Technology Market dynamics, structure by analyzing the market segments and project Global Automotive Teen Driver Technology Market Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Automotive Teen Driver Technology Market the report investor’s guide.
• General Motors Company
Maximize Market Research provides B2B and B2C market research on
Like it? Share it!
About the Authorrahul
Joined: February 3rd, 2021
Articles Posted: 122
More by this author