The global market for vehicle occupancy detection systems was around $50 million in 2020, with a CAGR of around 20% from 2021 to 2027. Vehicle occupancy detection systems device detects whether a vehicle contains passengers by detecting its occupancy. Furthermore, various technologies for detecting passenger presence in vehicles such as microwaves, ultrasonics, and video image processing allow us to detect passengers through various occupancy sensing applications.
Additionally, an Internet of Things (IoT)-connected occupancy detection system is designed to provide real-time occupancy count of vehicles. In addition, increasing vehicle traffic lanes with high occupancy rates coupled with safety regulations have sparked increased demand for vehicle occupancy detection systems.
This technology uses a camera and thermal sensors to detect the occupants in a vehicle. Sensor solutions based on thermal imaging can detect sudden movements while driving, such as braking or turning. A high detection rate would, however, is not possible without a good algorithm to use for detecting occupancy based on recently acquired images. In addition to detecting seat occupancy, these systems can also monitor other safety features such as seat belt use and drunk driving. In the forecast period, the market growth will be supported by all of these factors.
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Factors Impacting the Growth of the Global Vehicle Occupancy Detection System Market
- A rise in government regulations geared towards passenger safety will drive significant market growth over the forecast period.
- In emerging economies, OEMs and automotive component suppliers have expanded, which has led to the growth of the vehicle occupancy detection system market.
- The market is expected to grow with increasing demand for occupancy detection technology to reduce vehicle crashes.
- Due to low adoption in emerging markets of driver-assistance systems and the high cost of occupancy sensors, the market is likely to see fragmentation.
- The market for self-driving automotive vehicles is likely to flourish due to the surge in demand.
- The market will benefit from a rise in the construction of HOV lanes in complexes with toll plazas over the forecast period.
Impact of Covid-19
Globally, COVID-19 has had significant effects on the market for Vehicle Occupancy Detection Systems. The COVID-19 outbreaks led to a significant and prolonged drop in manufacturing utilization, travel bans, and facility closures, which led to lower growth of the Vehicle Occupancy Detection System Market.
In light of the market trends for vehicle occupancy detection systems, COVID-19 has served as a major restraint for market growth in 2020, and the market is expected to grow relatively slowly by the end of 2021. Despite this, the high demand for self-driving electronic vehicles serves as a major deterrent to the market growth. Many vendors who provide services to the transportation industry have been impacted negatively by the lack of investments in occupancy detection systems. Moreover, favorable regulations related to vehicle occupancy detection systems worldwide are expected to drive the market during the post-pandemic period.
Key Competitors
To become more competitive in the market, key players have established a range of strategies, including product portfolio expansion, mergers and acquisitions, agreements, geographic expansion, and collaborations. An analysis of the industry’s major players and their profiles include study of following companies:
- Conduent Inc.
- Vehicle Occupancy Detection Corp.
- Xerox Corporation
- Fortran Traffic System Ltd.
- NEC Corporation of America
- Indra Sistemas
- S.A, Invision
- Siemens
- TransCore
- Invision AI
Aim of the Report
The Vehicle Occupancy Detection System Market is divided into the various key segments that include installation type, technology, application, and region.
Segmentation based on Installation Type
- Mobile Installation
- Solutions
- Services
- Fixed Installation
- Solutions
- Services
Segmentation based on Technology
- Ultrasonic
- Infrared
- Hybrid
Segmentation based on Application
- Commercial Vehicles
- Passenger Vehicles
Segmentation based on Region
- Europe
- North America
- Middle East & Africa
- Asia-Pacific
Table of Content
Chapter 1: Global Vehicle Occupancy Detection System Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Vehicle Occupancy Detection System market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Vehicle Occupancy Detection System Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Vehicle Occupancy Detection System market Size Forecast (2023-2032).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Vehicle Occupancy Detection System market revenues on a global, regional, and country level, projecting trends until 2032. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Vehicle Occupancy Detection System market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Vehicle Occupancy Detection System market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Vehicle Occupancy Detection System business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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