October 24, 2019
According to the new research report available at MarketStusyReport.com under the title ‘Global Ignition Interlock Devices Market: Sizing, Growth, Technology, Application, Opportunities and Forecast (2019-2024)’, the worldwide ignition interlock devices market is anticipated to expand substantially by the year 2024.
Ignition interlock device (IID) is a vehicle equipment working as a breath analyzer which withholds the vehicle from starting or operating on detecting alcohol in breath. Increase in alcohol consumption among different age groups, strict government regulations, and growing alcohol impaired driving leading to fatal accidents are the major factors fueling the adoption of ignition interlock devices.
Growing awareness and policies across company for installing interlock devices to prevent employee from consuming alcohol during the working hours, device adoption by commercial fleet owners, and application across construction & mining sites will propel the growth of ignition interlock devices market. Moreover, use of device in schools for students safety, coupled with advancements and technology development will boost industry growth. However, high cost of the device and lack of awareness and knowledge among consumers related to the product is hindering the market growth.
As per the report, ignition interlock devices market was worth US $176.06 million in 2018 and is expected to accumulate significant growth by the year 2024. The report also provides a comprehensive insight about the top trends, drivers, restraints, and opportunities impacting the industrial growth.
The ignition interlock devices market is examined on the basis application spectrum and product type. Speaking of the application spectrum, the market is fragmented as personal vehicles and commercial vehicles. While based on the product type, the market is segmented as semiconductor technology and fuel cell technology.
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The report cites that the United States is expected to dominate the worldwide ignition interlock devices market over the forecast period, owing to intense competition, introduction of new products, field expenditure, along with strict regulations, extensive consumption of alcohol, and rising concerns regarding road safety among the nation’s population.
The prominent companies operating in ignition interlock devices market include Guardian Interlock, Drager, Alcohol Countermeasure Systems, Lion Laboratories, and Intoxalock.
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