Global Vehicle Occupancy Detection System Market: Industry Anal

  • Global Vehicle Occupancy Detection System Market was valued US$ XX Mn in 2018 and is expected to reach US$ XX Mn by 2026, at CAGR of 12% during forecast period of 2019 to 2026.


     


     


    Global Vehicle Occupancy Detection System Market Drivers and Restrains:
    Vehicle occupancy detection system is the motion detecting device, which is used to detect the presence of a vehicle automatically to control the traffic systems. Several countries are allow for the implementation of HOV/HOT lanes as a more sustainable option, mainly to tackle the growing issue of traffic congestion and encourage the use of public transport. Moreover, this is likely to decrease the overall release of harmful gases. To tackle this issue, the market players are focusing on the integration of AI into vehicle occupancy detection systems to attain advanced features and raise the whole system's accuracy.


    However, the accuracy of speed information is poor with low-resolution sensors are restraining the market growth globally. The video-based detection system faces some problems in distinguishing between seated or placed over the seat, subjects and objects, due to several factors. This factor is projected to hamper the market growth at the global level over the forecast period. Infrared technology is likely to create beneficial opportunities for manufacturers in the global market. This is an evidence, as the revenue from infrared technology in the vehicle occupancy detection system market is estimated to reach approximately XX million by 2026.


    The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.


    Global Vehicle Occupancy Detection System Market Segmentation Analysis:
    Based on the Technology, the global vehicle occupancy detection system market has been segmented into Infrared, Ultrasonic and Hybrid. The infrared technology segment is expected to grow at the largest CAGR of XX% during the forecast period. The infrared cameras are used in the vehicle occupancy detection system to offer consumers with a high range of monitoring capabilities in several lighting condition. These cameras also confirm road safety, even measure the heart rate of the driver and they trace changes in face temperature to detect sleepiness while driving in HOV lanes. Recently, the demand for more precise and automated vehicle occupancy detection systems with high tolerance to low visibility conditions has increased.


    Global Vehicle Occupancy Detection System Market Regional:
    Geographically, the vehicle occupancy detection system market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the XX% share of the vehicle occupancy detection system market in 2018 and expected to dominate the overall market over the forecast period due to the rising demand for these systems in the region. In North America, The U.S. accounted for the XX% share of the vehicle occupancy detection system market in 2018. The U.S. makes high investments in R&D activities intended at the innovation of new technologies. The market in Asia Pacific is anticipated to grow at CAGR of XX% during the forecast period thanks to owing to the increasing adoption of these systems in developing economies in the region, such as China. Moreover, the rising investments in research and development activities by key market players and various initiatives by governments for the introduction of advanced occupancy system are expected to drive the market growth of this region over the upcoming period.


    A report covers the recent development in market for the global vehicle occupancy detection system i.g., in February 2019, Indra Sistemas - a Spanish information technology systems company, declared that its DAVAO system achieved the highest overall system accuracy in a test organized by the Metropolitan Transportation Commission (MTC) of the San Francisco Bay Area.
    Global Vehicle Occupancy Detection System Market Competitive landscape


    Major Key players operating in this market are Siemens AG, Indra Sistemas, NEC Corporation of America, FORTRAN Traffic Systems Limited, Vehicle Occupancy Detection Corporation, and Invision AI, Inc. Manufacturers in the global vehicle occupancy detection system are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.


    The objective of the report is to present a comprehensive analysis of Global Vehicle Occupancy Detection System Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Vehicle Occupancy Detection System Market dynamics, structure by analyzing the market segments and project the Global Vehicle Occupancy Detection System Market size. Clear representation of competitive analysis of key players By Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the Global Vehicle Occupancy Detection System Market make the report investor’s guide.
    Scope of the Global Vehicle Occupancy Detection System Market:


    Global Vehicle Occupancy Detection System Market, by Type:


    • Fixed Installation
    • Mobile Installation
    Global Vehicle Occupancy Detection System Market, by Technology:


    • Infrared
    • Ultrasonic
    • Hybrid
    Global Vehicle Occupancy Detection System Market, by Application:


    • Passenger Car
    • Commercial Vehicle
    Global Vehicle Occupancy Detection System Market, by Region:


    • Asia Pacific
    • North America
    • Europe
    • Latin America
    • Middle East Africa
    Global Vehicle Occupancy Detection System Market, Major Players:


    • Analog
    • Texas Instruments
    • Lutron
    • Acuity Brands, Inc.
    • Eaton Corporation PLC
    • General Electric Company
    • Honeywell International, Inc.
    • Hubbell Incorporated
    • Indira Sistemas
    • TransCore
    • Siemens AG,
    • Indra Sistemas,
    • NEC Corporation of America
    • Fortran Traffic Systems Limited,
    • Vehicle Occupancy Detection Corporation
    • Invision AI, Inc.
    • Conduent Inc.


     


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