Wednesday, August, 21, 2019 06:20:40

occupant classification system market to showcase exponential growth till 2025, US and Europe regional landscape

The occupant classification system market in U.S. and Europe have emerged as leading regional revenue pockets transforming outlook. The strict regulatory scenario across these regions mandating the use of OCS is one of the prominent factors fueling regional growth. For the record, in the U.S., the National Highway Traffic Safety Administration (NHTSA) had deployed vehicle safety standards to mandate safety requirements for occupant’s protection. As a result, most of the automobile manufacturers like Ford, Chevrolet, Dodge, and Honda have started to integrate these systems in most of their mid-range & flagship models.

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The increasing awareness among car manufacturers and regulators about the need of vehicle safety systems has been fueling occupant classification system market. Increasing prevalence of road accidents and growing number of fatalities associated with them is one of the major factors accelerating industry trends. According to the World Health Organization (WHO), road accidents are the major cause of deaths across the globe accounting nearly 1.25 million mortalities per year.

Ongoing advancements in sensor technology have been making the OCS highly accurate, fueling the future incorporation of OCS in the automobile sector. Growing research & development on other alternatives like 3D video cameras, optics-based system, and ultrasonic sensors is very likely to stimulate the occupant classification system market outlook over 2019-2025. For instance, a leading market player like ZF Friedrichshafen AG is working on developing the 3D interior observation system for occupant sensing.

Speaking about Asian continent, the countries including India and China are poised to account for a significant business share, owing to the implementation of rules related to airbag safety. The deployment of such norms has promoted vehicle manufacturers to install OCS in economy class vehicles mainly across India. Improving standards of living in these countries will help fuel the regional car market and in turn will support the occupant classification system market landscape over the forecast period.

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Though the OCS market is expected to register an appreciable growth rate, restraints comprising high price of OCS integrated vehicles and technological defects may hamper the market share. However, growing initiatives pertaining to new product development are slated to overcome the business restraints over the years ahead. In addition, the leading automakers like Honda and Hyundai have been adopting innovative installation technologies to curb the changes of airbag failure.

The consistently expanding automobile sector and the rising demand for passenger safety regulations across developing nations will drive the growth trends of occupant classification system market. Growing emergence of collision repair services across the globe will further accelerate the product demand noticeably. Some of the market players in the occupant classification system market include Delphi Technologies, Aisin Seiki, Denso, Mayser, Flexpoint Sensor Systems, and Hyundai Mobis.

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