Occupant Sensing System Market Overview
The automotive occupant sensing system market 2022 is poised to mature at a CAGR of 6.8%.
Occupant Sensing System Market highlights
Over the review period, the Automotive Occupant Sensing System has been experiencing steady growth. Due to the rising sales of passenger cars, emerging economies, the shift of global players and technological advances, the market has experienced rapid growth in the last two years , giving the Automotive Occupant Sensing System systems market a much-needed thrust.
To minimise accidents that arise during an collision, regulatory bodies are actively encouraging passenger and driver safety technology. The growth in the number of fatal injury accidents is leading customers to embrace innovative protection technology. Strict laws have been implemented by governments of many countries, which make the inclusion of essential safety measures in a car obligatory to ensure its passengers' safety. Airbags have been made mandatory by regulatory bodies of many nations, mainly pushing the automotive passenger sensing system sector. Airbags are costly, so the airbag's inflation during a vacant seat accident leads to additional costs of changing the airbag, which can be eliminated by incorporating the occupant sensing system that vehicle manufacturers prefer to use in their vehicles. The growing implementation of advanced passenger protection technology boosts the vehicle occupant sensor device market due to their successful function in minimising severe and fatal injuries during incidents.
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Occupant Sensing System Market segmentation
The global automotive occupant sensing system market is segmented by channel, into OEM and After market.
Based on the vehicle type, the market has been divided into passenger vehicles and commercial vehicles.
Occupant Sensing System Market Regional Analysis
The Automotive Occupant Sensing Device systems market is expected to rise, with demand for vehicles growing, primarily in the United States. The need for commercial vehicles in the United States is enormous. There is an increase in demand for the Automotive Occupant Sensing System market as demand for commercial vehicles increases. North America's growth is also driven by the involvement of major manufacturers of automotive systems, which primarily concentrate on crucial innovations such as expansion, mergers & acquisition, launch of products and others. In addition, focusing most of the day on people's cars stimulates the need to introduce new technology, such as systems for the Automobile Passenger Sensing Device. The region's growth is expected to grow at a rapid pace due to all these factors. The superiority of APAC is apparent in the global market value of Automobile Occupant Sensing Device systems due to the presence of the world's most populated nations, such as China and India, among others. Thanks to the increasing sales of passenger vehicles, developing markets, the change of multinational players and technical developments, the industry has undergone substantial growth in the last two years , giving the Automotive Occupant Sensing Device systems market a much-needed thrust. Another significant factor for APAC's global market supremacy is that, despite the global economic downturn of 2008-09, the countries within this region were able to stabilise their economies and have been able to demonstrate sustained growth in car production and sales worldwide. Although there has been a substantial infusion of technologies in the Asia-Pacific region lately, the shortage of major industry participants and underdeveloped automotive infrastructure has contributed to the isolation of some geographies, mainly the African and Middle East region.
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Occupant Sensing System Market Competitive Dashboard
The major players of global Automotive Occupant Sensing System market are Takata Corporation, Robert Bosch GMBH, Delphi Automotive Plc., Continental AG, Hyundai Mobis Co., Key Safety Systems Inc., Autoliv Inc, Lear Corporation, ZF Friedrichshafen AG, and Volvo AB.