Occupant Monitoring Systems: Introduction
- Occupant monitoring systems have grown in popularity in commercial cars to detect unauthorized passengers, but global curiosity has been growing in the passenger vehicle segment precisely in child detection that is anticipated to drive the market share over the coming years.
- Occupant monitoring systems are seeing increasing demand in commercial fleets of vehicles to identify unauthorized passengers inside vehicles. Integrators are implementing occupant monitoring systems for passenger vehicles, where the technology finds common application pertaining to child detection and safety.
- In the United States, delegates of the Association of Global Automakers and the Alliance of Automobile Manufacturers that account for approximately 100% share of the sales of light vehicles in the country have collaboratively agreed to make child detection a standard feature by the year 2025.
- Furthermore, advancements in autonomous vehicle technology are likely to make these systems mandatory that is anticipated to propel the occupant monitoring systems market during the projected timeframe.
Global Occupant Monitoring Systems Market: Dynamics
Global Occupant Monitoring Systems Market: Key Drivers
- Several factors primarily propel the occupant monitoring systems market. These include growing safety awareness, stringent government regulations, and rise in demand for safety features in vehicles. Automobile companies are incorporating occupant monitoring systems in vehicles with safety ratings based on car safety performance.
- With the exponential growth of car leasing and ride sharing operations along with rising tourist activities, the number of cars are increasing due to rise in disposable income that will significantly boost the demand for occupant monitoring systems across the globe.
- In previous years, occupant monitoring systems were available only for luxury cars. Automotive manufacturers have started to incorporate these elements for entry-level vehicles as well to expand their consumer base. Safety systems include airbags, seat belts, and ABS (anti-lock braking).
- However, the high installation cost of occupant monitoring systems and the unavailability of professionals are expected to hinder the growth of the occupant monitoring systems market over the coming years.
Impact of COVID-19 on the Global Occupant Monitoring Systems Market
- The overall growth of the occupant monitoring systems market is projected to show an upward trend during the ongoing Covid-19 pandemic across the globe, despite the fact that the increase in adoption has little to do with the pandemic and more to do with the expanding focal point of technology developers on innovation and research & development. Organizations in the market are offering driver & occupant monitoring systems with integration of temperature sensors that monitor the temperature of drivers and their co-passengers.
North America to account for Large Share of the Global Occupant Monitoring Systems Market
- In terms of region, the global occupant monitoring systems market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- The North America region is expected to hold major share of the occupant monitoring systems market over the coming years. The growth of the market can be attributed to huge demand for commercial vehicles in the United States. The country is estimated to be the most attractive in terms of constant upgrades made to automotive technologies.
- The Asia Pacific region is anticipated to register decisive growth in the market, due to the increasing sales of commercial and passenger vehicles, the shift of global players manufacturing base in the region, technological developments, and developing economies in the region.
Global Occupant Monitoring Systems Market: Competition Landscape
- Industry participants and vendors engaged in the market are undertaking strategies such as partnerships, collaborations, acquisitions, and product offerings. Top players in the market have adopted product launch, extended product offering as their growth strategy to improve their visibility in the industry. Moreover, players in the market are constantly engaged in research & development activities to develop new systems and technologies that will fulfill the requirements of customer safety and retain their customer base.
Key players operating in the global occupant monitoring systems market include:
- Delphi Automotive LLP
- Takata Corporation
- Continental AG
- ZF Friedrichshafen AG
- Lear Corporation
- Denso Corporation
- Other Prominent Players
Global Occupant Monitoring Systems Market: Research Scope
Global Occupant Monitoring Systems Market, by Vehicle Type
- Personal Vehicles
- Commercial Passenger Fleets
Global Occupant Monitoring Systems Market, by Sales Channel
- Original Equipment Manufacturers (OEMs)
Global Occupant Monitoring Systems Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.