Occupant Classification System Market Predicted to Reach at 7.0% CAGR during 2018-2028

Posted on 2019-06-04 by Mark Hub in Industrial // 0 Comments

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In order to dissert the market scenario prevailing across the occupant classification system market sector, FactMR has evenly presented a comprehensive occupant classification system market analysis to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the occupant classification system market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.

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The occupant classification system market place remains consolidated and portrays monopoly of top players. As the occupant classification system is a relatively new and unique technology, the skilled labor and high R&D investments required for the development of advanced occupant classification system is currently fulfilled by Tier 1 players. While Tier 1 players hold nearly 65-70% share of the occupant classification system market, Tier 2 & Tier 3 players hold the remaining share. Although future pricing forecast is difficult, sensor-based technology prices are set to decline with rapid technology adoption. With the booming technology landscape in China and other emerging countries, Tier 2 & Tier 3 players pose threat to eat into shares of Tier 1 companies in the future.

Increasing reliance on electronic systems to enhance passenger safety, comfort and automobile performance have led automakers to implement sensor technologies in the advanced vehicle models. Sensor innovation is one of the most trending landscape in the automotive industry witnessing significant stakeholder attention in terms of investments. Among multiple sensor technologies under development, occupant classification system technology such as an occupant gesture-recognition is one of the key sensing technologies where automotive OEMs’ focus is concentrated.

In the past half a decade, the occupant classification system manufacturers have witnessed a number of collaborations to implement these technologies in new automobile models. For instance, in 2015, Fraunhofer ISC researchers in collaboration with Isringhausen GmbH launched smart driver seat which has a sensor-based gesture control system.

The occupant classification system (OCS) is a part of the air bag system and referred to as the supplemental restraint system. Deployment of air bags has significantly reduced the driver and passenger fatalities. Going beyond this fact, automakers are focusing on implementing safety sensing system to mitigate impacts of erroneous air bags deflation and reduce instances of faulty airbag fatalities.

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The National Highway Transportation and Safety Administration (NHTSA) has mandated that from 2006, all automobiles on the U.S. roads be equipped with an automatic suppression system with an aim to avoid child or adult fatalities. Further, NHTSA has funded several projects to test occupant classification system such as an adaptive occupant restraint system and crash sensing system.

An evident rise in the number of vehicles in operation (VIO) and growing emphasis on installation of automated safety features in automobiles present opportunities for occupant classification system manufacturers. According to the International Organization of Motor Vehicle Manufacturers (OICA), statistics of passenger car sales reached 71 million whereas commercial vehicle sales crossed 25 million in 2017, signifying the growing vehicle ownership across the globe. Growing population of discriminating consumers with increased purchase power consistently seek advanced safety features in their automobiles purchase. As most mid-sized passenger car models are now equipped with advanced occupant classification system, rising number of vehicles on road is likely to augur well for occupant classification system manufacturers.

Automotive stakeholders have accelerated their efforts for the commercialization of autonomous vehicles. As autonomous fleet epitomizes the automation environment driven by sensor technologies, steadily rising sales of autonomous vehicles present lucrative opportunities for occupant classification system manufacturers. Being driverless in nature, autonomous vehicles incorporate distinct and reliable sensor technology to ensure passenger safety. As autonomous vehicle manufacturers ensure passenger safety by aligning the vehicle features to regulatory standards, installation of occupant classification system in autonomous vehicles is set to rise in the future, thereby propelling the growth of the occupant classification system market.

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