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.
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.
By Installation Type
Fixed Installation segment will dominate the market throughout the forecast 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
Ultrasound segment is projected to be the most lucrative segment
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.
By Application
Passenger Vehicle segment will maintain the lead during the forecast period
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.
By Region
Asia-Pacific region would exhibit the highest CAGR of 22.0% during 2021 - 2030
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
| Aspects | Details |
 By Installation Type |
|
 By Technology |
|
 By Application |
|
 By Region |
|
 Key Market Players | .Vehicle Occupancy Detection Corp., Fortran Traffic System Ltd.., Siemens, Indra Sistemas, NEC Corporation of America., Conduent Inc., TransCore, Indra Sistema’s, S.A, Invision., Xerox Corporation |
Analyst Review
A vehicle occupancy detection system is a reliable solution used to offer significant advantages for vehicle safety to protect vehicle travelers from any potential threats. Modern vehicle occupant detection sensors offer effective monitoring solutions to check the amount of movement by improving radar accuracy through an optimized transmitter model and layout. In addition, rise in demand for next-generation vehicle security technologies is expected to offer profitable opportunities for the vehicle occupancy detection system market.
Vehicle occupancy detection system is popular for use in commercial and private sector vehicles, owing to surge in adoption of digital infrastructure across the automotive sector across the globe. Moreover, applications such as mobile installation and fixed installation of these systems have advance enhanced features such as real-time occupancy detection, which is anticipated to provide lucrative opportunities for the market growth.
Globally, various key players are investing in vehicle occupancy detection system applications to make them compatible with various industrial platforms. For instance, in 2018, the Olea Sensor Network, a leader in intelligent sensors and analytics software, announced launch of OleaVision, an in-vehicle Life presence detector designed to prevent hot car death. In additionally, in 2019, Euro NCAP, a leading crash-test ratings provider, announced that 2022 onward, they are planning to offer rating for child presence detection in vehicles followed by the U.S. and European safety regulations to mandate child presence detection system.
The key players profiled in the report include 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.
The Vehicle Occupancy Detection System Market is estimated to grow at a CAGR of 19.1% from 2021 to 2030.
The Vehicle Occupancy Detection System Market is projected to reach $225.5 million by 2030.
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Surge in demand for occupancy detection to reduce fatalities in vehicle crashes, coupled with rise in government regulations concerning to passenger safety etc. boost the market growth.
The key players profiled in the report include Conduent Inc., Fortran Traffic Systems Ltd., Indra Sistemas, Invision AI, and many more.
On the basis of top growing big corporations, we select top 10 players.
The Vehicle Occupancy Detection System Market is segmented on the basis of installation type, technology, application, and region.
The key growth strategies of Vehicle Occupancy Detection System market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
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