February 25, 2020
According to the research report titled ‘Occupant Classification System Market Size By Technology (Strain Gauge, Bladder, Pressure Sensitive Tape System), By Vehicle Type (Economic, Mid-range, Luxury), By Component (ECU, Sensor), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Sweden, Poland, China, India, Japan, Taiwan, South Korea, Thailand, Brazil, Mexico, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global occupant classification system market is expected to reach USD 3 billion by 2025.
According to the report, surging need for restraining systems for airbags along with technological advancements in occupant classification systems are major factors driving the market growth. These systems can identify an occupant’s weight, position, and size in order to suppress and deploy the pressure, thereby enhancing passenger safety. Moreover, strict government regulations pertaining to vehicle safety along with rising deployment of airbags in emerging economies is further aiding the market expansion.
Advancements in technology pertaining to automotive electronics has led to rising development of advanced occupant classification systems. Various automakers are focusing on integrating electronics & sensor in order to improve vehicle safety. Moreover, emergence of connected car technologies and autonomous vehicles has boosted the adoption rates of sensor technologies. These factors together with growing automotive sector, surging need for advanced safety features, and growing demand for luxury cars in Asia-Pacific region are facilitating the business scenario. However, rising cases of fake airbags in automobiles may hinder the market growth. Furthermore, inflating prices of automotive owing to deployment of occupant classification systems and airbags may also inhibit the market growth. Based on vehicle type, the report cites that the economy class vehicles segment is presumed to expand significantly during the estimated timeframe.
The growth is attributed to growing demand for enhanced safety systems and increasing awareness pertaining to road safety. Rising capita per income, improving economic conditions, and increasing popularity of economy vehicles owing to growing middle-class population are also fostering the demand for occupant classification systems in economy class vehicles.
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The prominent companies operating in the occupant classification system industry are Vmanx, Takata Corporation, Schneider Electric, Robert Bosch GmbH, Mayser, Joyson Safety Systems, IEE S.A. (Luxemborg), Hyundai Mobis, Flexpoint Sensor Systems, Deplhi Technologies, Denso, Calsonic Kansei Corporation, Autoliv Inc., and Aisin Seiki.
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