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Global Ignition Interlock Device Market to Grow at a CAGR of More Than 7.48% to 2027 - ResearchAndMarkets.com

·3-min read

DUBLIN, May 24, 2022--(BUSINESS WIRE)--The "Global Ignition Interlock Device Market, By Type, End User & By Region - Forecast and Analysis 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global ignition interlock device market was valued at USD 377.75 Million in 2021, and it is expected to reach a value of USD 582.33 Million by 2027, at a CAGR of more than 7.48% over the forecast period (2021 - 2027).

Used to prevent drunk driving, a breath alcohol ignition interlock device (also known as BAIID, BIID, alcohol interlock device, or adult safety interlock) is a breath analysis mechanism that integrates into a vehicle's dashboard and prevents it from starting without a passing breath sample. A basic ignition interlock system consists of four basic elements namely a breath alcohol sensor, a rolling retest system, a tamper-proof system for mounting the engine part of the unit, and a data recording system.

Transport fleet operators and bus operators are already burdened with various insurance premium related costs. These companies are expected to voluntarily install ignition interlock devices to prevent accidents caused due to driving under the influence of alcohol. This initiative may prove beneficial in generating significant savings in insurance premium related costs.

The report provides market sizing and forecast across five major regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA). In this report, the year 2016 to 2020 is considered a historical year, 2021 is the base year, 2022 is the estimated year, and years from 2022 to 2027 are considered the forecast period.

Top-down and bottom-up approaches were used to estimate and validate the size of the global Ignition Interlock Device market and to estimate the size of various other dependent submarkets.

The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives.

All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Aspects covered in this report

  • Based on type, this market is segmented into standard ignition interlock devices, and interlocks with camera and GPS.

  • Based on end-user, this market is segmented into automobiles, motorcycles, and others.

  • Based on region, this market is categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA).

Players in this market adopted various strategies to expand their global footprint and augment their market share. The key strategies followed by most companies in the global Ignition Interlock Device market were agreements and collaborations, mergers and acquisitions, and expansion.

Companies Mentioned

  • Intoxalock

  • Lifesafer

  • Alcohol Countermeasure Systems

  • Smart Start

  • Scram Systems

  • Alcolock

  • Sens- O-Lock

  • Simple Interlock

  • Lmg Holdings

  • Golden State Interlock

  • Skyfine Usa

  • Drager

For more information about this report visit https://www.researchandmarkets.com/r/6ejt29

View source version on businesswire.com: https://www.businesswire.com/news/home/20220524005621/en/

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