Growth of the Vehicle Occupancy Detection System Market to be driven by High Demand for Efficient Handling of Road Traffic Congestion: TMR

- The global vehicle occupancy detection systems is anticipated to exceed market value of around US$ 180 Mn through 2030. Market participants utilizing economies of scale to cater to the rising demand

- Continuous efforts are being made to handle rising vehicle congestion on road and better handle both future and existing roadway networks

ALBANY, N.Y., Jan. 25, 2021 /PRNewswire/ -- In recent times, there has been growing demand for incorporation of video imagery to keep a check on the high occupancy vehicles (HOV) lanes. This factor is likely to work in favor of the global vehicle occupancy detection system market over the timeframe of analysis, from 2020 to 2030. In addition, this system offers new solutions for ensuring traffic safety and minimizing congestion on roads in the urban areas.

Vehicle occupancy detection systems refer to those electronic systems that find use for counting, detection, and identification of passengers inside a vehicle. In recent years, there has been a rising demand for a system more tolerant toward low visibility condition, automated and more accurate in vehicles. A system incorporated with more technologically advanced features and functions to meet up with the evolving demands of passenger safety is in demand in the market. This factor is encouraging manufacturers in the global vehicle occupancy detection system market to come up with innovative solutions.

Integration of deep learning and artificial vision technologies are anticipated to add to the overall accuracy of the system. This factor is likely to assist companies in meeting the criteria of minimum accuracy level as set out by different authorities. Besides, companies are increasingly working toward non-intrusive and highly reliable vehicle occupancy detection system for automatic real-time detection of the rear and front occupants.

Use of artificial intelligence technology in this system along with increasing use of this technology in automotive sector is expected to bolster growth of the global vehicle occupancy detection system market over the forecast period. The global vehicle occupancy detection system market is likely to expand at a double-digit growth rate of ~18.5% over the analysis timeline, from 2020 to 2030.

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Key Findings of Vehicle Occupancy Detection System Market Study

Market to Thrive on Rising Demand of this Vehicle Technology in Urban Planning

Existence of a robust city infrastructure is essential for physical, social, and economic welfare of citizens. Government authorities, however, are faced with substantial challenges while doing urban planning. In particular, finding and marking empty parking spaces on the side of road has become a considerable challenge in urban planning. The vehicle occupancy detection system is cashing in on this urban planning challenge to increase the availability of mobile and fixed mobile installation products. Existence of such opportunities are likely to foster development of the global vehicle occupancy detection system market over the analysis, from 2020 to 2030.

In the concepts of smart city and urban planning, vision-based technology is gaining popularity, which is estimated to work in favor of the market. Participants in the global vehicle occupancy detection system market are inventing gadgets that able to maintain brightness during night automatically.

Explore 156 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Vehicle Occupancy Detection System Market (Installation: Fixed and Mobile; and Technology: Infrared, Ultrasonic, and Hybrid) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/vehicle-occupancy-detection-system-market.html

Radar-based Variant of the System to Gather Significant Traction

In the global vehicle occupancy detection system market, radar-based occupant alert systems are gaining rapid momentum. A car parts company in South Korea, Hyundai Mobis has invented an innovative radar-based occupant alert system. This new technology from Hyundai Mobis prevents kids from getting stuck in back seats. Manufacturers in the US are generating new growth opportunities, as there is increased awareness about the rising incidences children dying in locked cars

Vehicle owners are increasingly aware of different safety features found in today's cars. In addition to that, there has been augmented popularity of radar-based occupant alert system, which is expected to pave way for the rapid development of the global vehicle occupancy detection system market over the forecast analysis, from 2020 to 2030.

Analyze global vehicle occupancy detection system market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Vehicle Occupancy Detection System Market: Key Driving Factors

• Efforts to lessen overall congestion through construction of high occupancy vehicle (HOV) lanes are expected to augur well for the market.
• Advanced technologies, such as artificial intelligence (AI) is integrated into this system to make it function smoothly and correctly under all conditions.

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