Research report presented by UnivDatos, Emphasis on Application (Driver Monitoring Systems, Passenger Occupant Systems, Gesture UI Control, Theft Prevention Systems, Others); Vehicle Types (SUVs, Sedans, Hatchback, Others), and Geographical analysis (key regions and countries).
As per the research report, Radar Based In-Cabin Sensing Systems Market is expected to reach the market valuation of US$ 361.4 million by 2027 expanding at a reasonable CAGR of 54.1% during the forecast period (2021-2027) from US$ 258 million in 2019.
One of the major factors driving the market's expansion is an increase in car collisions. According to the World Health Organization, 1.35 million people die each year as a result of car accidents. Road traffic accidents account for more than 90% of all deaths in low- and middle-income countries. Furthermore, one of the most common causes of car collisions is driver distraction. According to a survey, about 11% of car collisions in the United States were caused by a driver's error. Furthermore, the African area has the highest number of road traffic accident deaths. According to the International Telecommunication Union, driver distraction caused by technology is a global issue that contributes to the more than 1.2 million people who die in car accidents each year. According to WHO, changing climate settings, shifting an object in the car, and using a computer or object central to the vehicle are some of the most common internal causes of driver distraction.
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Furthermore, the market for in-cabin sensor systems is growing due to increased demand for passenger occupancy systems as a result of the rising number of child deaths in hot vehicles. According to the National Safety Council, 2018 was the deadliest year on record for children in hot cars in the last 20 years (since 1998), with 53 children dying. Since 1998, about 800 children have died in hot vehicles, with 54.2 percent of deaths occurring as a result of a caregiver forgetting an infant in an automobile, 25.2 percent occurring as the child obtained entry to the vehicle, and 19.1 percent occurring as a result of intentionally leaving the child in the vehicle.
The COVID-19 has had a negative effect on vehicle and part demand and inventories. As a result of the recession, the market has seen a 30 percent drop in demand for new vehicles worldwide. The exact reduction varies by area, with China experiencing a drop of around 23% and Europe experiencing a drop of closer to 40%, with regional differences.
For a detailed analysis of the applications in the Radar Based In-Cabin Sensing Systems Market browse through – https://univdatos.com/report/radar-based-in-cabin-sensing-systems-market-current-analysis-and-forecast-2021-2027
Insights Presented in the Report
“Amongst Application, Driver monitoring systems segment holds the major share”
The market is segmented into Driver tracking systems, passenger occupant systems, gesture UI control, Theft prevention systems, and Others, depending on the application type. Due to the the demand for protection and protection in automobiles, the driver tracking systems segment dominated the market with a 46 percent share in 2020 and is expected to continue its dominance throughout the forecast period.
“Amongst Vehicle Type, SUVs segment dominated the market during the forecast period”
The market is divided into SUVs, Sedans, Hatchbacks, and Others based on vehicle model. SUVs accounted for a maximum industry sales share of 57.2 percent in 2020, and this trend is projected to continue during the forecast period. The growth of this segment is being fuelled by low car prices and the introduction of new models.
“North America represents one of the largest markets of Radar Based In-Cabin Sensing Systems market”
A thorough research was performed for various regions around the globe, including North America (the United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of APAC), and the Rest of the World, to gain a deeper understanding of the business dynamics of the Radar Based In-Cabin Sensing Systems Market. Because of increasing per capita income and a growing amount of car purchases, North America dominated the industry in 2020, generating revenue of US$ 148.6 million. According to the Bureau of Transportation Statistics, vehicle purchases in the United States and Canada will hit 14,665,787 and 1,656,775 units in 2020, respectively.
Radar Based In-Cabin Sensing Systems Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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