Automatic Vehicle Inspection Limits Spread of COVID-19 by Omitting Physical Monitoring
Vehicle aftermarket services have been defined as an essential service by security and government authorities during the coronavirus crisis. There is an increased demand for working and functioning vehicles to take workers to hospitals and supply stores. This has led to the concept of automatic vehicle inspection to eliminate the need to physically inspect cars, which helps to limit the spread of COVID-19. Such opportunities are creating business avenues for companies in the vehicle occupancy detection system market.
Individuals in charge of a car fleet manufacturing business or a worker on a country’s border inspecting cars for threats, such applications have drawn increased emphasis on companies in the vehicle occupancy detection system market providing automatic inspection products.
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Smart City, Urban Planning Initiatives Fuel Demand for Vision-based Technology
A robust city infrastructure is vital for ensuring economic, social, and physical welfare of citizens. However, government authorities are facing considerable challenges in urban planning, especially pertaining to the finding of empty parking spaces on roadsides. Hence, companies in the vehicle occupancy detection system market are capitalizing on this opportunity to increase the availability of fixed and mobile installation products. As such, fixed installation products are estimated to dictate a higher revenue share compared to mobile installation products during the forecast period.
The vision-based technology is gaining prominence in urban planning and smart city concepts. Companies in the vehicle occupancy detection system market are developing devices that automatically maintain brightness during night conditions as soon as a car is detected on a street that requires parking.
Microwave Sensing Technology Helps Manufacturers Gain Market Recognition
Stakeholders in the vehicle occupancy detection system market are innovating in the sensor technology to establish efficient ways in car counting applications. OPTEX— a manufacturer of high performance sensing technologies is gaining recognition for its vehicle sensor, which uses the microwave sensing technology to detect vehicles reliably. As such, the infrared technology is predicted to hold the lion’s share in terms of revenue in the vehicle occupancy detection system market.
Manufacturers are increasing the availability of devices that can be customized with various range settings. They are developing products that can be used at open retail parks and for monitoring traffic in high street applications.
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Radar-based Occupant Alert Systems Compel Governments to Modify Car Safety Regulations
Radar-based occupant alert systems are storming the vehicle occupancy detection system market. Hyundai Mobis— a public South Korean car parts company, has developed a new radar-based rear occupant alert system that prevents children from being stuck in back seats. Manufacturers are unlocking growth opportunities in the U.S. vehicle occupancy detection system market, as the U.S. child safety and accident prevention organization has become aware about children dying due to heart stroke in locked cars every year.
Since vehicle owners have become aware about various safety features in cars, the popularity of radar-based occupant alert systems is contributing toward market expansion. This has compelled many governments to make modifications in their regulations to ensure the safety of their citizens.
Camera-based Driver Monitoring Systems Facilitate Emotion Detection
As Elon Musk’s driverless car series Tesla is gaining importance for reducing fatal road accidents, similarly, vehicle occupancy detection systems are being deployed to ensure road and driver safety. The vehicle occupancy detection system market is estimated to surpass the revenue of US$ 180 Mn by the end of 2030, as driver monitoring systems are being highly publicized for their contribution toward road safety for both, passenger cars and commercial trucks. This has led to innovations in driver facing camera that detect a driver’s state of alertness.
The U.S. National Transportation Safety Board (NTSB) has recommended the use of camera-based driver monitoring systems to facilitate emotion detection and deliver the convergence of occupant and driver monitoring.
Vehicle Occupancy Detection System Market: Overview
- According to Transparency Market Research’s latest research report on the global vehicle occupancy detection system market for the historical period 2018–2019 and the forecast period 2020–2030, usage of AI technology in vehicle occupancy detection systems in automobiles and increase in application of vehicle occupancy detection systems in the automotive sector are factors expected to boost the global vehicle occupancy detection system market during the forecast period
- In terms of revenue, the global vehicle occupancy detection system market is estimated to exceed the value of US$ 180 Mn by 2030, expanding at a CAGR of 18.5% during the forecast period
Implementation of New Models of Advanced Mobility: A Key Driver of Vehicle Occupancy Detection System Market
- Globally, traffic congestion is rising and becoming an issue of serious concern in almost every city. Traffic congestion is a condition caused by the increasing number of vehicles on the road, resulting in congestion, slower speed, road blockage, and longer route time, further leading to sheer waste of productive time, affecting the overall economy.
- Currently, efforts are continually ongoing to tackle the rising vehicle traffic, and improve the mobility of both current and future roadway networks. Public policies are promoting high-occupancy-vehicle (HOV) lanes as new ways to improve mobility on roads.
- The construction of HOV lanes will help to reduce the overall congestion, as this encourages ridesharing, public transport, and transit use
- In summary, implementation of HOV lanes is a less costly alternative to find ways to make existing freeways more efficient in handling the demand for movement of people
- Thus, demand for vehicle occupancy detection systems is estimated to increase over the next few years and major players in the vehicle occupancy detection system market are utilizing the economies of scale to meet the rising demand
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