Vehicle Occupancy Detection System Market

Vehicle Occupancy Detection System Market Outlook – 2030 

The global vehicle occupancy detection system market size was valued at $42.5 million in 2020, and is projected to reach $225.5 million by 2030, registering a CAGR of 19.1% from 2021 to 2030. A vehicle occupancy detection system is an enhanced electronic device that detects presence of passengers in a vehicle. Further, vehicle detection technologies are intended to cover a wide range of applications to detect presence of passengers through various occupancy sensing technologies such as infrared microwave, ultrasonic, and video image processing.

COVID-19 scenario to impact commercial vehicle segment in the Vehicle Occupancy Detection System Market negatively.

 Moreover, vehicle occupancy detection system is designed to connect through Internet of Things (IoT) network to offer real-time vehicle occupancy count. In addition, surge in construction of high occupancy vehicle traffic lanes globally with a certain number of passenger safety regulations boosts growth for a vehicle occupancy detection system. 

Vehicle occupancy detection uses a camera and thermal sensor technology to detect the occupancy of several passengers in a vehicle. Thermal sensor solutions in occupancy detection systems can detect sudden driving actions such as braking and turning.  However, occupancy detection uses newly acquired images to train data, thus, require an algorithm to achieve a high detection rate even for a small set of data. Furthermore, vehicle occupancy detection systems are integrated with specialized sensors technology that is able to detect seat occupancy with other safety features such as seat belts and drunk driving. All these factors are expected to support the market growth during the forecast period.

The vehicle occupancy detection system market is expected to witness notable growth during the forecast period, owing to rise in government regulations to ensure passenger safety. Furthermore, surge in expansion of OEMs and automotive component suppliers in developing economies drives the growth of vehicle occupancy detection system market. Moreover, rise in demand for occupancy detection to reduce fatalities in vehicle crashes is expected to propel the market growth.

However, high cost associated with comprehensive occupancy sensing system, paired with low penetration of advanced driver-assistant systems in emerging regions is expected to restrain the market growth. Further, surge in demand for self-driving automotive vehicles offers lucrative opportunities for the market growth. In addition, rise in construction in HOV lanes in toll plazas is expected to provide lucrative opportunities for the growth of the market during the forecast period.

According to vehicle occupancy detection system market trends, emergence of COVID-19 has served as a major restrain for growth of the market of vehicle occupancy detection market in 2020, and the market is estimated to witness relatively slow growth by the end of 2021. However, surge in demand for self-driving electronic vehicles acts as a prime factor that hampers the market growth. Vendors serving across the transportation sector have been hit hard, owing to lack of investments in occupancy detection systems. Moreover, surge in occupancy detection system regulations across the globe is assumed to drive the vehicle occupancy detection system market growth during the post-pandemic period.

Segment Overview

The vehicle occupancy detection system market is segmented on the basis of installation type, technology, application, and region. On the basis of installation type, the market is segregated into fixed installation (solutions and services) and mobile installation (solutions and services). The fixed installation segment was the highest revenue contributor in 2020, and is anticipated to garner significant market share during the forecast period.

By technology, the market is fragmented into infrared, ultrasonic, and hybrid. The infrared segment dominated the market, in terms of revenue in 2020, and is expected to follow the same trend during the forecast period. By Application, the market is bifurcated into passenger vehicles and commercial vehicles. The vehicle occupancy detection system market share of passenger vehicle segment garnered the highest in 2020, and is expected to grow at a high CAGR from 2021 to 2030. 

Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). North America is expected to develop at highest rate during the conjecture time frame. North America, specifically the U.S., remains a significant participant in the global market. Major organizations and government institutions in the country are intensely putting resources into the technology. 

Top Impacting Factors

Significant factors that impact growth of the global vehicle occupancy detection system industry include surge in demand for occupancy detection to reduce fatalities in vehicle crashes, coupled with rise in government regulations concerning to passenger safety. However, accuracy of speed information is deficient with low-resolution sensors acts as a major barrier for early adoption, which hampers growth of the market. On the contrary, rise in demand for vehicles with modern active and passive safety features is anticipated to provide remunerative opportunities for expansion of the vehicle occupancy detection system market forecast period globally.

Competitive Analysis

Competitive analysis and profiles of the major players in vehicle occupancy detection system industry are analyzed across Conduent Inc., Fortran Traffic Systems Ltd., Indra Sistemas, Invision AI, NEC Corporation of America, S.A, Invision, Siemens, TransCore, Vehicle Occupancy Detection Corp., and Xerox Corporation are provided in this report. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.

Key Benefits For Stakeholders

• This study comprises analytical depiction of the vehicle occupancy detection system market size along with the current trends and future estimations to depict the imminent investment pockets.
• The overall vehicle occupancy detection system market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current vehicle occupancy detection system market forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
• The report includes the market share of key vendors and vehicle occupancy detection system market trends.

Vehicle Occupancy Detection System Market Key Segments

By Installation Type

• Mobile Installation
  • Solutions 
  • Services
• Fixed Installation
  • Solutions
  • Services

By Technology

• Infrared
• Ultrasonic
• Hybrid

By Application

• Passenger Vehicles
• Commercial Vehicles

Key Market Players

• Conduent Inc.
• Fortran Traffic System Ltd.
• Indra Sistemas
• Invision AI
• NEC Corporation of America
• S.A, Invision
• Siemens
• TransCore
• Vehicle Occupancy Detection Corp.
• Xerox Corporation

 Vehicle Occupancy Detection System Market Report Highlights