Occupant Monitoring Systems: Introduction
- Occupant monitoring systems have grown in popularity in commercial cars to detect unauthorized passengers, but global curiosity has been growing in the passenger vehicle segment precisely in child detection that is anticipated to drive the market share over the coming years.
- Occupant monitoring systems are seeing increasing demand in commercial fleets of vehicles to identify unauthorized passengers inside vehicles. Integrators are implementing occupant monitoring systems for passenger vehicles, where the technology finds common application pertaining to child detection and safety.
- In the United States, delegates of the Association of Global Automakers and the Alliance of Automobile Manufacturers that account for approximately 100% share of the sales of light vehicles in the country have collaboratively agreed to make child detection a standard feature by the year 2025.
- Furthermore, advancements in autonomous vehicle technology are likely to make these systems mandatory that is anticipated to propel the occupant monitoring systems market during the projected timeframe.
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Global Occupant Monitoring Systems Market: Dynamics
Global Occupant Monitoring Systems Market: Key Drivers
- Several factors primarily propel the occupant monitoring systems market. These include growing safety awareness, stringent government regulations, and rise in demand for safety features in vehicles. Automobile companies are incorporating occupant monitoring systems in vehicles with safety ratings based on car safety performance.
- With the exponential growth of car leasing and ride sharing operations along with rising tourist activities, the number of cars are increasing due to rise in disposable income that will significantly boost the demand for occupant monitoring systems across the globe.
- In previous years, occupant monitoring systems were available only for luxury cars. Automotive manufacturers have started to incorporate these elements for entry-level vehicles as well to expand their consumer base. Safety systems include airbags, seat belts, and ABS (anti-lock braking).
- However, the high installation cost of occupant monitoring systems and the unavailability of professionals are expected to hinder the growth of the occupant monitoring systems market over the coming years.
Impact of COVID-19 on the Global Occupant Monitoring Systems Market
- The overall growth of the occupant monitoring systems market is projected to show an upward trend during the ongoing Covid-19 pandemic across the globe, despite the fact that the increase in adoption has little to do with the pandemic and more to do with the expanding focal point of technology developers on innovation and research & development. Organizations in the market are offering driver & occupant monitoring systems with integration of temperature sensors that monitor the temperature of drivers and their co-passengers.
North America to account for Large Share of the Global Occupant Monitoring Systems Market
- In terms of region, the global occupant monitoring systems market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- The North America region is expected to hold major share of the occupant monitoring systems market over the coming years. The growth of the market can be attributed to huge demand for commercial vehicles in the United States. The country is estimated to be the most attractive in terms of constant upgrades made to automotive technologies.
- The Asia Pacific region is anticipated to register decisive growth in the market, due to the increasing sales of commercial and passenger vehicles, the shift of global players manufacturing base in the region, technological developments, and developing economies in the region.
Global Occupant Monitoring Systems Market: Competition Landscape
- Industry participants and vendors engaged in the market are undertaking strategies such as partnerships, collaborations, acquisitions, and product offerings. Top players in the market have adopted product launch, extended product offering as their growth strategy to improve their visibility in the industry. Moreover, players in the market are constantly engaged in research & development activities to develop new systems and technologies that will fulfill the requirements of customer safety and retain their customer base.
Key players operating in the global occupant monitoring systems market include:
- Delphi Automotive LLP
- Takata Corporation
- Continental AG
- ZF Friedrichshafen AG
- Lear Corporation
- Denso Corporation
- Other Prominent Players
Global Occupant Monitoring Systems Market: Research Scope
Global Occupant Monitoring Systems Market, by Vehicle Type
- Personal Vehicles
- Commercial Passenger Fleets
Global Occupant Monitoring Systems Market, by Sales Channel
- Original Equipment Manufacturers (OEMs)
Global Occupant Monitoring Systems Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.