Global Occupant Monitoring Systems Market Size, Trends, and Analysis - Forecasts To 2026 By Vehicle Type (Personal Vehicles, Commercial Passenger Fleets), By Sales Channel [Aftermarket, Original Equipment Manufacturers (OEMs)], By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis.
The global market will experience an immense growth rate from 2021-2026. The systems are used to monitor, classification and positioning the passenger seated in the car. They also support the airbag system and monitor the amount of intensification needed by an airbag, when driving -involves some type of crash. The utmost duty of every corporation is passenger welfare. Some of the factors mainly driving the occupant monitoring systems are growing safety awareness among individuals, increased demand for safety features in vehicles, and strict government regulations. The automobile manufacturers are incorporating the occupant monitoring system into cars with safety ratings based on vehicle safety performance. Previously these systems are available only in luxury cars, automotive manufacturers have begun to incorporate these features into entry-level vehicles as well as to expand their consumer base. Some of the safety systems include seat belts, airbags, and ABS (anti-lock braking). However, the high installation cost of occupant monitoring systems and the unavailability of professionals are challenging the market growth.
The occupant sensing system market can be categorized into two prominent segments, personal vehicles and commercial passenger fleets based on the vehicle type. As passenger transport by vehicles is expanding exponentially, passenger vehicles are experiencing greater adoption of the occupant monitoring system. With the exponential growth of car-hailing and car leasing operations along with increased tourist activities, the number of passenger cars is growing due to increased disposable income, which in turn is propelling the demand for occupant monitoring systems. In China, passenger vehicles need CCC certification (China Certification Corporation).
Based on the sales channel, the market is explained into the aftermarket, and original equipment manufacturers (OEMs). In general, OEM-fitted occupant monitoring systems are used as they have an accurate and precise operation. The OEMs offer more cost-effective systems compared to other sales channels. OEMs channels are collaborating with colleges, automotive companies, and technology firms to offer effective solutions.
The North American region will hold a significant share in the global market. The occupant monitoring device systems market is expected to rise, with demand for vehicles growing, primarily in the United States. The demand for commercial vehicles in the United States is immense. The major manufacturers in the region are primarily concentrating on key developments such as expansion, mergers & acquisitions, the launch of products, and others. Also, people spend much time in vehicles which stimulates the need for the introduction of new technology, such as the Occupant Monitoring Device. The region's development is projected to grow at a fast pace due to all these factors. The Asia Pacific region will register a peak growth, due to the increasing sales of passenger vehicles, developing economies, the shift of global players, and technological developments among others.
Delphi Automotive LLP, Takata Corporation, Autoliv, Valeo, Continental AG, ZF Friedrichshafen AG, Lear Corporation, and Denso Corporation are the major vendors competing in the Global occupant monitoring systems Market.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Occupant Monitoring Systems Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Occupant Monitoring Systems Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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