July 07, 2020
According to the research report titled ‘Global Occupant Classification System Market Size study with COVID-19 impact, by Sensor (Seat belt tension sensor and Pressure sensor), by Component (Sensors and Air-bag Control Units), by Light Duty Vehicle Class (Mid-Size, Economy and Luxury), by Electric Vehicle Type (Battery Electric Vehicle, Fuel cell Electric Vehicle, Hybrid Electric Vehicle and Plug-in Hybrid Electric Vehicles) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global occupant classification system market was worth USD 1.87 billion in 2019 and is expected to register a CAGR of 6.7% over 2019-2026.
For those uninitiated, an occupant classification system classifies the mass or weight of front seat passengers and turns off their airbag automatically in certain detrimental situations. The occupant classification system (OCS) is referred as supplement restraint system and is a part of air bag system.
Deployment of air bags have reduced the passenger and driver casualties to a great extent. The occupant classification system is required in vehicles while deploying air bag to identify the weight and position of the occupant and safeguard the driver from sustaining any injuries pertaining to airbag impacts. Therefore, rising instances of car accidents and the need of occupant classification system in vehicles are the key factors driving the market growth.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2663563/
According to WHO, 1.25 million cases of death in road crashes have been recorded each year, with 3,287 deaths per day, which accounts to a loss of USD 518 billion worldwide. The government initiatives for advanced safety system installation in vehicles is likely to amplify product adoption. However, the high cost of installation may impede the market growth over the anticipated timeline.
Considering the geographical hierarchy, the occupant classification system market is fragmented into Latin America, Europe, North America, Asia Pacific, and Rest of the World. North America presently holds a significant market share pertaining to the initiatives taken by government regarding advanced safety systems implementation in vehicles. Meanwhile, Asia Pacific market is anticipated to depict a remunerative growth trend over 2020-2026. Increasing instances of car accidents are projected to create growth opportunities for occupant classification system market in the region.
The leading organizations in global occupant classification system market are ON Semiconductor, TE Connectivity, Autoliv Inc., Denso Corporation, Aptiv PLC, IEE Sensing, Robert Bosch GmbH, AIsin seiki Co Ltd., Continental AG, and ZF Friedrichshafen AG among others.