Radar Based In-Cabin Sensing Systems Market Size 2021 By Share, Industry Statistics, Trends Evaluation, Business Challenges and Investment Opportunities Analysis till 2027

 

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. Radar Based In-Cabin Sensing Systems detect objects and people inside the cabin and monitor the driver’s gesture and behavior that prevents mishappening of accidents.

The various factors driving the Radar Based In-Cabin Sensing Systems market A rise in the number of vehicle accidents across the globe is generating the demand for the vehicle with driver monitoring and other safety features such as ADAS. As per WHO motor vehicle crash kills around 3000 people every day. Our of that the major incidences or accident happened due to the driver’s error. In a study conducted in the unites states, it was revealed that the major reasons for crashes were distraction, sleepiness, and excessive speed. Moreover, the demand for driver monitoring systems (DMS) is contributing to the growth of the radar-based in-cabin sensing systems to track driver’s gestures and other states such as drowsiness, anger, distraction as drowsiness can decrease reaction time towards a situation, or anger can lead to risky driving behavior. As per the National Highway Traffic Safety Administration, every year about 100,000 police-reported crashes involve drowsy driving. These crashes result in more than 1,550 fatalities and 71,000 injuries.

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Moreover, the government’s stringent regulations across regions and countries are acting as a growth catalyst to the industry. The government launched the USA-Safe Act of 2020, USA-Moving Forward Act, USA-Hot Car Act, Euro NCAP, US NCAP, ANCAP. Moreover, the demand for passenger occupancy systems due to the surging number of child fatalities in hot cars is adding growth to the market of radar-based in-cabin sensing systems. As per National Safety Council, 2018 was the deadliest year on record in the past 20 years (since 1998) as 53 children died in hot cars. Since 1998, around 800 children's have died in hot cars, and out of that 54.2% of deaths happened due to the forgetting a child in a vehicle by the caregiver, 25.2% of deaths happened as the child gained access to the vehicle and 19.1% deaths happened due to knowingly leave the child in the vehicle.

Based on Application, the market is fragmented into driver monitoring systems, passenger occupant systems, gesture UI control, theft prevention systems, and others. The driver monitoring system segment dominated the market in 2020 accounted for 46.0% and is anticipated to maintain its dominance during the forecast period owing to rising cases of vehicle accidents or crashers due to driver’s distraction and fatigueness. As per the World Health Organization (WHO), approximately 1.35 million people lost lives each year due to road traffic injuries. Moreover, 41% of all automotive accidents result from driver-related recognition errors, most of which were caused by inadequate surveillance. Furthermore, technological advancements in the automotive industry and increasing awareness about safe driving, and the need to reduce the number of fatalities is contributing to the growth of the market.

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Based on the Vehicle Type, the market is mainly fragmented into SUVs, Sedans, Hatchback, and Others. The sedan segment dominated the market in 2020 and gathered 56.2% in 2020. Moreover, the segment is anticipated to maintain its dominance during the analyzed period. The market of the sedan segment is witnessing an up-tick on account of the rising number of sedan production coupled with the rising disposable income that leads to the growing adoption of sedan cars. In a study, it was found that in 2018, the global sales of the sedan segment reached 20.26 million units.

Additionally, the report provides detailed initiatives that are being taken in the field of Radar Based In-cabin sensing systems. The market is classified into distinct regions including North America (the U.S and Canada), Europe (Germany, France, Spain, Italy, and United Kingdom), Asia-Pacific (China, Japan, Australia, India, and the Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of US$ 148.6 million in 2020 owing to the presence of well-established OEMs in the industry such as Ford, General Motors, Fiat-Chrysler coupled with the increased model availability. Also, rising GDP per capita income is one of the factors contributing to the growth of the market. rising GDP per capita. As per the world bank, the GDP per capita in the United States increased from USD 56,839.38 in 2015 to USD 65,297.51 in 2018. In the same way GDP per capita in Canada increased from USD 43,585.51 to USD 46,194.72 during 2015-2019.

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Global Radar Based In-Cabin Sensing SystemsMarket Segmentation

Market Insight, by Application

·       Driver Monitoring Systems

·       Passenger Occupant Systems

·       Gesture UI Control

·       Theft Prevention Systems

·       Others

Market Insight, by Vehicle Type

·       SUVs

·       Sedans

·       Hatchback

·       Others

Market Insight, by Region

·       North America

o   United States

o   Canada

o   Rest of North America

·       Europe

o   France

o   Germany

o   Spain

o   Italy

o   United Kingdom

o   Rest of Europe

·       Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·       Rest of World

Top Company Profiles

·       Hyundai

·       Robert Bosch

·       Bit sensing

·       General Motors

·       Texas Instruments

·       Infineon Technologies

·       Denso Corporation

·       Jaguar (JRL)

·       NXP

·       Smart Radar Systems