A
comprehensive overview of the Radar Based In-Cabin Sensing Systems is recently
added by UnivDatos Market Insights to its humongous database. Radar Based In-Cabin
Sensing Systems Market report has been aggregated by collecting informative
data of various dynamics such as market drivers, restraints, and opportunities.
This innovative report makes use of several analyses to get a closer outlook on
the Radar Based In-Cabin Sensing Systems Market. Radar Based In-Cabin Sensing
Systems report offers a detailed analysis of the latest industry developments
and trending factors in the market that are influencing the market growth.
Furthermore, this statistical market research repository examines and estimates
the In-Cabin Sensing Systems at the global and regional levels. Global Radar
Based In-Cabin Sensing Systems Market is expected to grow at a CAGR of 54.1%
from 2021-2027 to reach US$ 6,877 million by 2027.
Market Overview
The market is
expected to witness a boost on account of the rising incidences of vehicle
crashes due to several reasons such as driver’s mistakes such as fatigue and
drowsiness, less attentiveness, night vision, careless behavior, etc. 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.
Also, a rise in
the spending on research and development in the automotive industry coupled
with the emerging of new players and the offering of new technology enables
solutions of in-cabin sensing systems is acting as a growth catalyst to the
industry. As per a study by Auto Alliance, automakers spend more than US$100
billion globally each year on R&D, ranking the auto industry ahead of other
technology-driven industries. In 2018, the global automakers spent more
than US$ 125 billion on R&D.
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COVID-19
Impact
The
covid -19 pandemic has brought higher automation and digitalization in the
global automotive industry. The features or concepts such as IoT, AI, and
digitalization will become exceptionally applicable in the coming years and are
going to define the new way of working. A rise in vehicle theft during the COVID-19
era is the key factor that would drive the demand for In-Cabin sensing in the
forecast period. As per a study, vehicle burglaries shot up 63% in New
York and nearly 17% in Los Angeles from Jan. 1 through mid-May 2020, compared
with the same period last year (2019).
Radar Based In-Cabin Sensing Systems Market report is studied
thoroughly with several aspects that would help stakeholders in making their
decisions more curated.
By Application,
the market is primarily bifurcated into
·
Driver Monitoring Systems
·
Passenger Occupant Systems
·
Gesture UI Control
·
Theft Prevention Systems
·
Others
The driver monitoring systems segment dominated the application
type segment and gathered 45.5% of the Radar Based In-Cabin Sensing Systems Market
in 2020. Moreover, the market is expected to grow at 54.5% CAGR to
reach US$ 3,176 million by the year 2027.
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By Vehicle
Type, the market is primarily segmented into
·
SUVs
·
Sedans
·
Hatchback
·
Others
Amongst vehicle types, the SUVs segment accounted for the largest
share and is expected to grow at 53.1% CAGR during the forecast period 2021-2027.
In 2020, the SUVs segment generated a revenue of US$ 199.3 million.
In-Cabin
Sensing Systems Geographical Segmentation Includes:
·
North America
·
Europe
·
Asia-Pacific
·
Rest of the World
Based on the estimation, the North America region
dominated the Radar Based In-Cabin Sensing Systems Market with almost US$ 148.6
million in revenue in 2020. At the same time, the Europe region
is expected to grow remarkably with a CAGR of 55.5% over the forecast period owing
to the launch of several government regulations such as EU-General Safety
Regulations, Euro NCAP, Multilateral Agreements, etc.
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The major players targeting the market
includes
·
Hyundai
·
Robert Bosch
·
Bit sensing
·
General Motors
·
Texas Instruments
·
Infineon Technologies
·
Denso Corporation
·
Jaguar (JRL)
·
NXP
·
Smart Radar Systems
Competitive Landscape
The degree of competition
among prominent global companies has been elaborated by analyzing several
leading key players operating worldwide. The specialist team of research
analysts sheds light on various traits such as global market competition,
market share, most recent industry advancements, innovative product launches,
partnerships, mergers, or acquisitions by leading companies in the Radar Based In-Cabin
Sensing Systems Market. The leading players have been analyzed by using research methodologies
for getting insight views on global competition.
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Key questions resolved
through this analytical market research report include:
·
What are the latest trends, new patterns, and technological advancements
in the Radar Based In-Cabin Sensing Systems Market?
·
Which factors are influencing the Radar Based In-Cabin
Sensing Systems Market over the
forecast period?
·
What are the global challenges, threats, and risks in the
Radar Based In-Cabin
Sensing Systems Market?
·
Which factors are propelling and restraining the Radar Based In-Cabin
Sensing Systems Market?
·
What are the demanding global regions of the Radar Based In-Cabin
Sensing Systems Market?
·
What will be the global market size in the upcoming years?
·
What are the crucial market acquisition strategies and policies applied
by global companies?
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