The Automotive Occupant Sensing System Sales is witnessing a steady growth; mainly due to the increasing demand for safety features, stringent government norms, and rapidly rising safety awareness among individuals. Huge advancements in the technology used in the safety systems define the market landscape of occupant sensing systems.
Owing to the increased sales and hence the production of automobiles over the past few years, the occupant sensing systems are garnering massive market prominence, worldwide, and its market is growing pervasively at a rapid pace on the global platform. According to an eminent research firm, Market Research Future (MRFR), the global Automotive Occupant Sensing System Sales is expected to register approximately 6.52%. CAGR throughout the assessment period (2017 to 2023).
In addition to the growing vehicle production, factors such as the increase in stringent government regulations for safety are some of the key driving factors substantiating market growth. The increasing production of passenger and commercial vehicles are driving the market growth generating a huge demand for occupant sensing systems. The increased emphasis on the safety of the occupants is encouraging many OEMs to develop parts that provide high strength and security using the latest safety technologies.
On the flip side, factors such as the requirement of high capital investments are obstructing market growth. Nevertheless, augmenting demand for safety technologies and the increasing number of automotive unit sale worldwide is expected to support the market growth, increasing the uptake of the occupant sensing system in the vehicles.
Automotive Occupant Sensing System Sales – Segments
The report is segmented into three key market dynamics to widen the scope of understanding,
By Vehicle Type : Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle, among others.
By Channel : Aftermarket and Original Equipment Manufacturer (OEM).
By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.
Automotive Occupant Sensing System Sales – Geographical Analysis
North America would remain the largest region in the global automotive occupant sensing systems market. Massive demand for passenger safety features, substantial technological advancements, and the early adoption of advanced technology drive the market growth in the region.
Moreover, factors such as the increasing production of vehicles and the presence of major safety system manufacturers, and well-established automotive industry in this region, foster the growth of the market. The growing demand for safety features in automobiles, especially in passenger cars, creates opportunities for the regional automotive occupant sensing market to grow significantly.
The Asia Pacific automotive occupant sensing systems market is another lucrative market on the global platform. The market is growing due to the increase in the production of passenger and commercial vehicles, especially in emerging nations such as China, India, and Japan. The vehicle production rate is predominantly led by the presence of several manufacturers in the APAC region. Rising production of vehicles is resulting in increasing the use of safety technology for better safety of the occupants. Advancements in safety technology are leading to the growth of the occupant sensing system market in the region. Furthermore, the increase in the regional automotive occupant sensing market is also driven by the increasing population, urbanization, and the improving economy that is enhancing the purchasing power of consumers.
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Automotive Occupant Sensing System Sales – Competitive Analysis
The Automotive Occupant Sensing System Sales appears to be highly competitive owing to the presence of numerous well-established players having the international and global presence. Brand reinforcement, mergers & acquisitions, and innovation remain the key trends for these leading players. Vendors strive to develop low-cost, compact systems, emphasizing on improved hardware.
Many automotive suppliers and OEMs are focusing on the development of the occupant sensing system to be at the front of the competition. Strong market players raise the entry barriers for new entrants. Technology providers also offer aftersales services to the end-users.
These systems are delivered through the distribution channels and dealers. Key manufacturers incorporate strategic alliances with local dealers and automotive manufacturers to expand their business in the countries where stringent regulations restrict them to export these systems.
Players leading the global Automotive Occupant Sensing System Sales are Autoliv Inc, Takata Corporation, Robert Bosch GMBH, Delphi Automotive Plc., Continental AG, Hyundai Mobis Co., ZF Friedrichshafen AG, Lear Corporation, Key Safety Systems Inc., and Volvo AB., among others.
July 22, 2019 ---- ZF Friedrichshafen AG (Germany), a leading global car parts maker and technology provider, demonstrated the prototype of its new pre-crash occupant safety system that comes with an external side airbag. This safety system has the potential to reduce occupant injury severity in cases of side-impact collisions significantly.
ZF provides a range of integrated vehicle safety technology from sensor systems, algorithms, and control units to active and passive actuators. ZF confirms that its deep understanding of the entire development process enables it to conceptualize vehicle safety solutions such as the newly developed pre-crash safety system.