North America Ignition Interlock devices market revenue to expand at a CAGR of 5.6% between 2015 and 2021, Persistence Market Research

New York, Feb. 16, 2016 (GLOBE NEWSWIRE) -- According to the latest market report “North America Ignition Interlock Devices: Market Analysis & Opportunity Assessment, 2015-2021”. According to the report, the North America ignition interlock devices market has been estimated to account for US$ 35.1 Mn by 2015 end, and is expected to reach US$ 48.8 Mn by 2021 at CAGR of 5.6% during the forecast period.

In this report, the market has been segmented on the basis of technology, end use, and country. Each country is further segmented on the basis of technology and end use.

By technology, the market is segmented into two types, i.e., fuel cell technology and semiconductor technology. The fuel cell technology segment has been estimated to dominate the North America ignition interlock devices market, with revenue share of 96.2% by 2015 end. This growth can be attributed to alcohol-specific judgment offered by fuel cell technology, high accuracy, calibration stability, and durability.

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In terms of end use, ignition interlock devices market in North America is classified as compliance segment and commercial segment. Compliance segment includes users of ignition interlock devices who are convicted in DUI incidences. Compliance segment has been estimated to account for approximately 97.3% of the total market revenue by 2015 end, and is expected to expand at a healthy CAGR of 5.7% during the forecast period. The commercial segment is anticipated to register a CAGR of 2% in terms of value during the forecast period.

In North America market, the semiconductor technology segment has been estimated to account for a miniscule share of 3.8% by 2015 end, and is anticipated to expand at a CAGR of 1.4% during the forecast period owing to economical pricing as compared to fuel cell technology.

Ignition interlock devices North America market is mainly driven by stringent NHTSA regulation against drunk driving, voluntary use of ignition interlock devices by commercial fleet owners as a preventive measure against drunk driving, reduction in driving license suspension period of convicted driver using of ignition interlock devices, state ignition interlock programs etc.

Involvement of social organizations such as Mothers against Drunk Driving (MADD) or Fathers Against Drunk Driving (FADD) has been contributing significantly to increased demand for ignition interlock devices in North America.

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However, launch of inbuilt ignition interlock systems by OEMs such as Volvo, or introduction of newer technologies – such as Sober Steering Company’s sensor technology which allows driver to confirm sobriety by placing a hand on a sensor pad attached to the dashboard or steering wheel – could pose a major threat for growth of the overall ignition interlock devices market. Social awkwardness caused while using device in public could also pose as a restraint.

Country-wise, the U.S. has been estimated to dominate the North America ignition interlock devices market by 2015 end, and is expected to expand at CAGR of 6.8% in terms of volume during the forecast period. This can mainly attributed to ignition interlock programs in each state in the U.S.

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Each state in the U.S has its own ignition interlock program, wherein a DUI offender ordered by a judge to install ignition interlock device in his or her vehicles needs to participate in a program upon payment of a prescribed fee in order to regain his/her license.

Key market players are focusing on offering added features such as sleep mode (to save vehicle battery power), GPS tracker, real-time monitoring, and camera in ignition interlock device to enable efficient and accurate monitoring. Companies primarily promote their product through tie-ups with DUI attorneys, referral programs, and involvement with social organizations. Key market players in the North America ignition interlock device market include Smartstart Inc., Lifesafer Inc., Alcohol Countermeasure Systems, Intoxalock, Drägerwerk AG & Co. KGaA, Monitech LLC, Alco Alert Interlock, Inc., and Guardian Interlock, LLC.

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