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.
U.S. occupant classification system market size, by product, 2018 & 2025 (USD Million)
Though vehicle manufacturers have integrated air bags in vehicles for safety purpose, they do not provide total security. As per the National Highway Traffic Safety Administration, since 1990, around 300 people have lost their lives due to airbag impact, majorly due to the over sensitive airbag system. Most of the casualties were among children or people of short height who were found to be occupying the front seats. Occupant classification system (OCS) identifies people occupying the passenger seat and regulates airbags on/off switch.
Considering safety requirement, automakers have been equipping certain vehicles with innovative occupant classification systems. Growing development of sensor assisted OCS and its role to improve air bag system safety will help to expand the OCS market size over the years ahead. According to a research report by Global Market Insights, Inc., occupant classification system (OCS) market share is set to exceed USD 3 billion by 2025.
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.
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The U.S. and Europe have emerged as leading regional revenue pockets transforming occupant classification system market 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.
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.
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 industry. 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 (OCS) industry include Delphi Technologies, Aisin Seiki, Denso, Mayser, Flexpoint Sensor Systems, and Hyundai Mobis.
Author Name : Amol Kothekar
Growing adoption of technologically advanced products by carmakers to drive automotive NFC market share through 2025
Innovative products being introduced by major companies is favoring the growth prospects of automotive NFC market. Due to low energy requirements, NFC technology can be embedded in cars, which is transforming the automobiles from interiors to exteriors. Automakers are also installing electronic smart key systems in their cars to modernize their vehicles that will augment automotive NFC market share.
Brazil Automotive NFC Market Revenue, By Type, 2018 & 2025
NFC technology in automotive sector offers intuitive interactions between humans and vehicles to fulfil the specific needs of drivers and enhancing driving experience. The major players in electronics and semiconductor sector are striving to come up with innovative ideas which can perform desirable tasks to satisfy certain demands of customers and increase remuneration of automotive NFC market.
Recently, one of the leading industry players, STMicroelectronics, made it to headlines as it presented automotive solutions for smart driving at the 11th edition of the Automotive World show in Tokyo, Japan. The company exhibited the leading-edge NFC technology in automobiles which can accelerate electrification and digitalization in autonomous driving, advanced driver assistance systems (ADAS), and power control for electric and hybrid electric vehicles. The solutions include Power Architecture®’s 32-bit microcontroller, SiC power MOSFET, acceleration sensors enabling road-noise cancellation, EEPROM and several others.
The companies like NXP and STMicroelectronics have developed pioneering technologies, which are gaining high traction among automakers manufacturing high-end vehicles. The luxury car manufacturers are focusing on deploying NFC technologies to enrich the driving experience of their customers. According to a report by Global Market Insights Inc., the high-end vehicles in the automotive NFC market will record a growth rate of over 31 percent over the timeframe of 2019-2025.
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With increasing modernization, the interiors of cars are also being installed with cutting-edge technologies. The interior application held more than 71 percent revenue share in the automotive NFC market in the year 2018. The strategies of some companies to progress in the technological domain is likely to contribute in augmenting the automotive NFC industry share in upcoming years.
For instance, NXP recently announced the acquisition of wireless connectivity portfolio of Marvell valued at $1.76 billion. The acquisition includes Marvell’s Wi-Fi Connectivity Business Unit, Bluetooth technology portfolio and related assets to upgrade technologies in vehicle interior. The acquisition will allow the company to deliver complete, scalable processing and connectivity solutions to the customers across its focus end markets. Such acquisitions are expected to create new revenue opportunities for the market players and increase automotive NFC industry size.
The involvement of luxury car manufacturers like BMW in the development of high-end automotive technologies will contribute to optimistic automotive NFC industry outlook. The BMW AG has employed NFC technology in its latest BMW 8-series to upgrade the standards for automobile manufacturers. Its intelligent features like climate seats, convenient wireless phone charging tray, display key, fuel level indicator, service-related information, digital key etc. have set high benchmarks for its competitors.
The smart key function is widely being adopted among the automobile companies to enrich experience of customers. Another instance that can be cited here is that of Hyundai Motor Company which has introduced digital keys in its all-new 2020 Sonata to mark the North American debut of its most successful and longest standing model at the New York International Auto Show. The car has been introduced with a digital key application to promote advances in technology. It allows customers to control selected vehicle systems remotely.
The driver can also leave traditional keys at home as the app also allows secure sharing of keys with family and friends. The propagation of advanced technologies is on the rise and is boosting the growth of automotive NFC market size. Moreover, the latest debut of Hyundai in North America will propel the regional growth of automotive NFC market as well. It has been anticipated that the North America automotive NFC market will attain a CAGR of over 32 percent mainly due to the presence of strict regulatory policies regarding the ADAS system.
As can be observed from the aforementioned instances, automobile manufacturers are widely embracing trailblazing technologies to expand their market share. The strategies, like collaborations and acquisitions, are being planned and executed by the companies involved in automotive NFC industry to support the adoption of new technologies, essentially providing a favorable growth environment for automotive NFC industry.
Author Name : Anchal Solanki