July 14, 2020
According to the research report titled ‘Global Ignition Interlock Devices Market: Sizing, Growth, Technology, Application, Opportunities and Forecast (2019-2024)’, available with Market Study Report LLC, global ignition interlock devices market was worth USD 176.06 million in 2018, and is expected to register an appreciable growth rate over 2019-2024.
Global ignition interlock devices market is majorly driven by increase in the number of fatal crashes due to alcohol impaired driving, strict government regulations for on-road safety, and increasing alcohol intake among people of different age groups. Additionally, increasing usage of ignition interlock devices by commercial fleet owners, company regulation for installing these devices to prevent staff from consuming alcohol during working hours, and high demand for these devices for student safety in schools contributes to the industry expansion.
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Moreover, usage of ignition interlock devices in mining & construction sites, technological advancements in these devices, burgeoning expenditure in private field, and escalating demand for personal interlock devices are expected to augment the market growth over the forecast period. Although, lack of awareness and knowledge among consumers, coupled with high cost of these products may impede the growth of global ignition interlock devices market in the coming years.
Based on type, global ignition interlock devices market is divided into semiconductor and fuel cell technology. Speaking of the application spectrum, the market is categorized into personal vehicles and commercial vehicles.
Major players in global ignition interlock devices market are Guardian Interlock, Alcohol Countermeasure Systems, Lion Laboratories, Intoxalock, and Drager among others.