Jersey City, NJ, March 16, 2023 (GLOBE NEWSWIRE) -- The global Child Presence Detection System Market is estimated to exhibit a CAGR of 50.64% during the forecast period 2023-2031.
Product innovation and development for child presence detection systems are anticipated to follow the rising demand for SUVs. Manufacturers will be able to create more sophisticated child presence detection system features for SUVs thanks to the growing SUV sales. Because of this, it is anticipated that the market for child presence detection systems will rise and offer opportunities to industry participants due to the increased sales of SUVs. Furthermore, the market's expansion over the review period will be impacted by the rise in the sales of luxury cars and SUVs and the rising per-day birth ratio. On the other hand, the system's subpar construction and costly price may limit the market's growth.
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Furthermore, market is projected that the marketplace for kid presence detection systems will benefit over the evaluation period from rising government rules and efforts for children's safety in vehicles. With circumstances including the rising number of children dying after being trapped in hot cars, the surge in sales of EVs and premium cars, and government initiatives, the market for child presence detection systems has grown recently. The expanding use of advanced sensing technologies like radar, imaging, and detecting equipment in corporate settings.
Recent Developments:
- In May 2022.-Toyota will introduce the Cabin Awareness concept. It employs millimeter-wave radar technology to identify any person or animal within the sealed car interior.
- In December 2021-To turn the car into the ultimate edge device, NXP Semiconductors and Foxconn Industrial Internet Ltd., a subsidiary of the Foxconn group, announced their strategic alliance. NXP will offer FII access to its broad portfolio of automotive technology.
List of Prominent Players in the Child Presence Detection System Market:
- Optiv PLC
- Continental AG
- Denso Corporation
- Faurecia
- Infineon Technologies AG
- Magna International AG
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- vale
- Visteon Corporation
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Child Presence Detection System Market Report Scope:
| Report Attribute | Specifications |
| Growth rate CAGR | CAGR of 50.64% from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Sensors, Vehicle Propulsion, Sales Channel, And Vehicle Type |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers-
The market is expanding due to significant factors such as rising affordability, increased purchase of SUVs and luxury cars, and increased concern over the number of kids dying inside hot cars. During the projection period, it is also anticipated that the system's safety features, technological development, and social programs and laws intended to ensure kids' safety in hot cars would expand business prospects for industry participants.
Challenges:
The cost of operating a kid presence detection system depends on several variables, including the vehicle type and state-of-the-art technology. Due to the substantial commitment and repair and maintenance expenses associated with the development of modern technologies, kid location detection system operations are costly. Also, the elements and materials used in kid presence customized technological product systems must be chosen by international standards. As a result, the price of premium raw materials and components used to produce kid presence detection systems rises. The child presence detection system equipment costs are anticipated to increase due to all these considerations. Hence, the high price of the products restrains the market.
Regional Trends:
The North America child presence detection system market is expected to register a tremendous market share in revenue. It is projected to grow at a high CAGR soon due to corporate enterprises' widespread use of advanced sensing, recognizing radar, and photography technologies. Automobile manufacturers now have more opportunities thanks to the development of the manufacturing sector and the facilities in developing nations. Besides, Europe had a substantial share of the market. Many of the new technologies being incorporated into cars are heavily focused on the safety of drivers and passengers during their travel. Governments require new safety measures to prevent and lessen accidents, while consumer protection organizations promote them. The newest cars come equipped with driver monitoring systems, which are necessary for the most advanced cars to operate at peak efficiency. Radar sensor use in automobiles has increased in several European nations, and similar trends are anticipated in emerging markets.
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Segmentation of Child Presence Detection System Market-
By sensor type:
- Radar sensors
- Ultrasonic sensors
- Pressure sensors
- Others
By sales channel
- OEMs
- Aftermarket.
By vehicle propulsion
- Electric vehicle
- ICE vehicle
By vehicle type
- Hatchback
- Sedan
- SUV
- MUV
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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