What is Vehicle Occupancy Detection System Market?
In the market for vehicle occupancy detection systems, sensor technology is being developed to build efficient methods in automobile counting applications. OPTEX, a manufacturer of high-performance sensing technologies, is earning notoriety for their vehicle sensor, which detects automobiles accurately using microwave sensing technology. As a result, infrared technology is expected to take the lead. Furthermore, this technology provides novel traffic safety and roadway congestion solutions in metropolitan areas, and the reach of vehicle occupancy detection systems is expanding.
The market study is being classified, by Application (Passenger Car and Commercial Vehicle) and major geographies with country level break-up.
Siemens AG (Germany), Conduent Inc. (United States), Fortran Traffic Systems Limited (Canada), Indra Sistemas (Spain), Invision AI (Canada), NEC Corporation of America (United States), TransCore (United States) and Xerox Corporation (United States) are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Vehicle Occupancy Detection System market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Vehicle Occupancy Detection System market by Type, Application and Region.
On the basis of geography, the market of Vehicle Occupancy Detection System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Implementation of New Models of Advanced Mobility
- Increasing Spending on the Construction of the HOV Lanes
- Technological Advancement in the System
- Different Weather Conditions Decrease the Accuracy of the Vehicle Occupancy System
- Growing Demand for Automated Vehicle Occupancy Detection Systems with Low Visibility & High Tolerance
- Integration of AI and other Artificial Intelligence Technologies in Vehicle Occupancy Detection System
- Video-based Detection System Create Problem in Imaging Geometry & Variation in the Poses of Occupants
In 2019, Siemens introduced the latest technology in intelligent traffic systems at ITS World Congress in Singapore. The company claims that traffic can be regulated in an efficient manner through artificial intelligence, data analysis, and prediction., and In 2019, Conduent Inc. updated its vehicle passenger detection system. As per the update, the vehicle passenger detection system identifies the number of occupants in a vehicle with 99% accuracy for the front seat and 96% accuracy for the back seat at speeds ranging from stop-and-go to 100 mph.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Providers of Vehicle Occupancy Detection System, Venture Capitalists and Private Equity Firms and End-Use Industry
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Vehicle Occupancy Detection System Market?
"Implementation of New Models of Advanced Mobility
" is seen as one of major growth factors of Vehicle Occupancy Detection System Market in years to come.
2. Can we have customized study for Vehicle Occupancy Detection System Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.