ID: MRFR/AM/3272-CR | January 2018 | Region: Global | 111 pages
Automotive occupant sensing system market is expected to register a CAGR of 7%.
Automotive Occupant Sensing System has been witnessing steady growth over a period of time. Automotive occupant sensing systems basically detects the presence of individuals in the vehicle, based on which the amount of deflation or inflation is required by airbags in case of an accident. Increasing demand for safety features in automobiles, stringent government norms and rapidly rising safety awareness among individuals are some of the factors primarily driving the automotive occupant sensing system market. With the New Car Assessments Program awarding safety ratings based on vehicles safety performance, automotive manufacturers have been increasingly integrating automotive occupant sensing system in vehicles. Earlier available only in premium vehicles, automobile manufacturers have started integrating these features in entry level vehicles as well to broaden their customer base thus propelling the demand in the automotive occupant sensing system market.
The market for Automotive Occupant Sensing System systems is expected to grow with an increase in demand for automobile, majorly in the United States. There is an immense demand of commercial vehicles in United States. With the increase in demand of commercial vehicles there is an increase in demand for Automotive Occupant Sensing System market. The growth of the North America region is also driven by the presence of major automotive system manufacturers which are mainly focusing on key developments such as expansion, mergers & acquisition, product launch and others. Moreover, the spending of much of the time in Vehicles by the people generates the need for adoption of advanced technologies, such as Automotive Occupant Sensing System systems. Owing to all these factors, the growth of the region is expected to grow at a rapid pace.
Due to the presence of most populous countries of the world such as China and India among others, the dominance of APAC becomes evident in the global Automotive Occupant Sensing System systems market value. The market has been experiencing rapid growth in the last two years owing to the rising sales of passenger cars, emerging economies, shifting of global players and technological advancements are giving a much needed thrust to the Automotive Occupant Sensing System systems market. Another major reason behind APAC leading the global market is that the countries within this region were able to sustain its economy during the global economic crisis of 2008-09 and have been able to showcase continued growth in automobile production and sales across the globe. Although, of late, there has been a significant influx of technology in the Asia-Pacific region, the lack of major market players and underdeveloped automotive infrastructure has resulted in alienating certain geographies, particularly the African and Middle East region.
The key players of global Automotive Occupant Sensing System market are Takata Corporation, Autoliv Inc, Robert Bosch GMBH, Continental AG, Delphi Automotive Plc., Hyundai Mobis Co., Lear Corporation, ZF Friedrichshafen AG, Key Safety Systems Inc., and Volvo AB. In 2016, these companies accounted for a share of XX% of the global market.
The report for Global Automotive Occupant Sensing System Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2027: USD 2.5 billion Value|
|CAGR||7% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Vehicle Type and Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||akata Corporation, Autoliv Inc, Robert Bosch GMBH, Continental AG, Delphi Automotive Plc., Hyundai Mobis Co., Lear Corporation, ZF Friedrichshafen AG, Key Safety Systems Inc., and Volvo AB|
|Key Market Opportunities||Increasing demand for safety features in automobiles|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The automotive occupant sensing system market is projected to strike 6.52% CAGR.
The automotive occupant sensing system market size is expected to reach around USD 2400 Mn.
The APAC market is projected to thrive on account of the rapid developments being introduced in the automotive industry.
Major players of the automotive occupant sensing system market are Takata Corporation, Robert Bosch GMBH, Autoliv Inc, Continental AG, Hyundai Mobis Co., Delphi Automotive Plc., Lear Corporation, Key Safety Systems Inc., ZF Friedrichshafen AG, and Volvo AB.
The segments of the automotive occupant sensing system market, by channel, are aftermarket and OEM.
The automotive occupant sensing system market is poised to benefit from the rising installation of safety features in automobiles.
India, the U.S., and China are some of the key country-level regions of the automotive occupant sensing system market.