DUBLIN--(BUSINESS WIRE)--The "Occupant Classification System (OCS) Market by Sensor (Pressure Sensor, Seat Belt Tension Sensor), Components (ACU, Sensors), Sensor Technology (Wired, Wireless), LDV Class (Economy, Mid-Size, Luxury), EV Type, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global occupant classification system market is projected to grow at a CAGR of 6.7% to reach USD 2.8 billion by 2025, from an estimated USD 2.0 billion in 2020.
Stringent safety norms for vehicles to pass the NCAP test ratings are expected to drive the OCS market. However, regional disparities in NCAP ratings and public acceptance of safety technologies, which is impacted by the high price, are a few restraining factors for the OCS market. The installation of OCS in economy class-vehicles has increased in developing countries. Also, leveraging allied technologies for better accuracy is expected to create opportunities for the OCS market in the coming years. On the other hand, the availability of alternative technologies for the occupant classification system can pose challenges for the OCS market.
Mid-size class of light-duty vehicle to grow at a significant rate during the forecast period
The OCS market for a mid-size class segment of the light-duty vehicle is projected to grow at the highest CAGR during the forecast period. It is followed by the economy class. The growth of the occupant classification system is driven by the increasing sales of luxury and ultra-luxury vehicles in developed and developing countries.
Asia Pacific to lead the OCS market during the forecast period
The Asia Pacific region is estimated to hold the largest share of the global OCS market in 2018. Increasing demand for vehicles with advanced passive safety features and increasing awareness about green vehicles among people are expected to fuel the growth of the OCS market in the Asia Pacific region.
- Stringent safety norms for vehicles to pass NCAP test ratings
- Regional disparities among regulations (NCAP safety ratings)
- Public acceptance of safety technologies are impacted by the high price
- Installation of OCS in economy-class vehicles in developing countries
- Leveraging allied technology for better accuracy
- Alternative technologies for OCS
- Market Dynamics
- Aisin Seiki
- TE Connectivity
- Robert Bosch
- Nidec Corporation
- On Semiconductor
- CTS Corporation
- Joyson Safety Systems
- Flexpoint Sensor Systems
- Bebop Sensors
- IEE Sensing
- Keihin Corporation
- Marelli Corporation
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