Automotive Occupant Sensing System Market to Grow Past US$ 2 Billion by End 2022
The automotive occupant sensing systems market is on track to grow with a CAGR of 6.9% from 2017 to 2022.
Albany, NY -- (SBWire) -- 10/12/2017 --Increasing personal mobility across the world has unfortunately led to rising cases of accidents and road traffic fatalities, especially in emerging economies where safety standards are less stringent than in developed countries. It isn't surprising that customers have begun to demand seatbelts and airbags in their vehicles as a built-in accessory and not an optional extra. Automotive occupant sensing systems are critical in sensing the presence of a driver or passenger seated inside a vehicle and are required to control the airbag activator systems. The automotive occupant sensing systems control, disable or enable the inflation of the airbag in the case of an accident. Adequate information enables the airbag activator control system to function seamlessly and save millions of lives annually. The automotive occupant sensing systems market is on track to grow with a CAGR of 6.9% from 2017 to 2022.
The passenger side segment has a revenue share of roughly a third of the mounting location segment of automotive occupant sensing systems market in 2017 and is expected to gain substantial share during the study period. The passenger side segment is likely to be worth more than US$ 725 million by the end of the year 2022. Nonetheless, the driver side segment is where the bulk of the action lies as it accounts for approx. half the revenue share in automotive occupant sensing systems market. The driver side segment has great scope in Latin America as the region is estimated to record the highest CAGR for the five-year study period
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The OEM sales channel dwarfs the aftermarket channel in automotive occupant sensing systems market. Automotive occupant sensing systems are typically fitted by the OEM's themselves and are hardly ever fitted by aftermarket channels. The OEM channel is particularly prominent in North America and the North America OEM channel market should near US$ 600 million by end 2022. The aftermarket channel is much smaller in comparison and represents marginal revenue share in automotive occupant sensing systems market. Companies specializing in the aftermarket sales channel would be advised to devise customized strategies to reach customers and be successful in automotive occupant sensing systems market
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A similar potential exists in the light and heavy commercial vehicles segment as both have roughly equivalent revenue share in automotive occupant sensing systems market. Heavy commercial vehicles inch past their light counterparts though and companies are recommended to take this into account while devising their strategies. The North America heavy commercial segment could well touch US$ 80 million at the end of the forecast period as the region has minimal rail infrastructure and most transportation is on their well-developed highways
The companies profiled in automotive occupant sensing systems market report are Volvo AB, ZF Friedrichshafen AG, Lear Corporation, Hyundai Mobis Co., Delphi Automotive Plc., Continental AG, Robert Bosch GMBH, Autoliv Inc., and Takata Corporation
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