According to a new market report published by Transparency Market Research , titled, 'Automotive Rear Occupant Alert System Market [Vehicle Type: Passenger Vehicles (Sedans, Hatchbacks, and SUVs) and Light Commercial Vehicles; Sensor Type: Pressure Sensors and Ultrasonic Sensors; Sales Channel: OEMs and Aftermarket] - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027', is expected to reach nearly US$ 800 Mn by 2027, expanding at a CAGR of nearly 20% during the forecast period.
Automotive Rear Occupant Alert System Market
The global automotive rear occupant alert system market is projected to expand at a CAGR of nearly 20% between 2019 and 2027, according to a new research report by Transparency Market Research (TMR).
According to the automotive rear occupant alert system market report, the global market is likely to be influenced by a range of political, economic, social, technical, and industry-specific factors. Europe is expected to witness rapid rise in the demand for automotive rear occupant alert systems, with the automotive rear occupant alert system market in the region anticipated to expand at a CAGR of nearly 23% during the forecast period.
Growth of the Automotive Rear Occupant Alert System Market
Automotive Rear Occupant Alert System Market: Sensor Type Segment Analysis
Automotive Rear Occupant Alert System Market: Sales Channel Segment Analysis
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In terms of region, the global automotive rear occupant alert system market can be segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Prominent economies in Europe are demanding eco-friendly vehicles, along with technologically-advanced vehicles, which leads to the development of mass production methods such as assembly line production. This, in turn, is likely to boost vehicle production in the region. These are the major factors driving the automotive rear occupant alert system markets in North America and Europe.
The emergence of revised taxes during Brexit is expected to hamper the sales and production of vehicles in Europe, which, in turn, is anticipated to hamper the automotive rear occupant alert system market. Several countries in Europe have enacted regulations to make electric vehicles mandatory in the near future. Furthermore, the rapid rate of the adoption of technology is estimated to drive the automotive rear occupant alert system market during the forecast period.
The automotive rear occupant alert system is likely to be a very effective addition to the automobile industry, as this feature can reduce the impact of negligence of the driver while travelling with children in the vehicle, in case of unintentionally locking them inside the vehicle. This system can be responsible for the saving lives of the rear occupants.
Major players operating in the global automotive rear occupant alert system market include Baby Alert International, Sense A Life, Kars4Kids, Evenflo, Elepho Inc., AISIN SEIKI Co., Ltd., Texas Instruments Incorporated, Robert Bosch GmbH, MAYSER GMBH & CO. KG, and Flexpoint.
The global automotive rear occupant alert system market has been segmented as follows:
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