According to a new report published by UnivDatos Markets Insights, the Child Presence Detection System Market is expected to grow at a CAGR of 16.4% from 2022-2028. The analysis has been segmented into (Ultrasonic, Radar, and Others); Sales Channel (OEMs and Aftermarket); and End-Users (SUVs, Sedans, Hatchback, and Others); Region/Country.
The Child Presence Detection System Market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Child Presence Detection System Market. The Child Presence Detection System Market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Child Presence Detection System Market at the global and regional levels.
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Market Overview
The Child Presence Detection System Market is expected to grow at a strong CAGR of around 16.4% during the forecast period. European safety regulators and US lawmakers are considering the possibility of mandating “child presence detection" systems in order to avoid the hot-car deaths of unattended children. The European New Car Assessment Programme (Euro NCAP), which gives crash-test ratings, has already announced that from 2022 onwards, it will provide ratings for child presence detection. For these ratings, the car must have a feature that can detect a child left in the car and notify the owner or emergency services to avoid fatalities. In the USA, the Hot Cars Act of 2019, bipartisan legislation was recently introduced in both the House and Senate that would require all new passenger vehicles in the U.S. to come with standard equipment designed to help prevent child deaths from heatstroke suffered in motor vehicles.
COVID-19 Impact
The COVID-19 pandemic has paralyzed industries and disrupted manufacturing. The pandemic has resulted in hasty closures of national and internal borders, resulting in operational inefficiencies, and disrupted value chains, resulting in damage and lost revenue. However, government initiatives to stimulate the automotive industry and worries about children's safety can spur market expansion.
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The global Child Presence Detection System Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the product, the market is segmented into ultrasonic sensor, radar, and others. Amongst these, the radar sensor dominated the market in 2021. This is because radar uses radio waves instead of light for object detection tasks, it works well in humidity, fog, a large range of temperatures, and smoke. This stands in contrast to optical technologies such as cameras – or in the future, lidar – which are generally susceptible to the same challenges as the human eye.
· On the basis of vehicle type, the market is divided into SUVs, sedans, hatchback, and others. Among these, the SUVs captured the majority share of the Child Presence Detection System Market in 2021. The growth of this segment can be attributed to the increasing sales of SUVs all around the globe. The SUV is built on a light-truck chassis, has a towing capacity of a pickup truck and seating capacity like a large sedan but does not offer a separate cargo compartment.
Child Presence Detection System Market Geographical Segmentation Includes:
· North America (U.S., Canada, and the Rest of North America)
· Europe (Germany, France, UK, Norway, Rest of Europe)
· Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)
· Rest of the World
North America dominated the Child Presence Detection System Market in 2021. It has become the region where the maximum cases of children dying of heatstroke after being left behind by their parents in the car, have been witnessed. Since, North America is one of the largest automotive manufacturing hubs in the world and victims of child deaths in HOT cars, the initiatives of making a child presence detection system mandate are also being taken by them. This growing trend in the automotive sector is indicating a growing market for child presence detection systems as well.
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The major players targeting the market include
· Infineon Technologies AG
· Texas Instruments Incorporated
· NXP Semiconductors
· Renesas Electronics Corporation
· STMicroelectronics
· Semiconductor Components Industries, LLC
· ROHM CO., LTD.
· Analog Devices, Inc.
· Qualcomm Technologies, Inc.
· Taiwan Semiconductor Manufacturing Company Limited
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 Child Presence Detection System Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Child Presence Detection System Market?
• Which factors are influencing the Child Presence Detection System Market over the forecast period?
• What are the global challenges, threats, and risks in the Child Presence Detection System Market?
• Which factors are propelling and restraining the Child Presence Detection System Market?
• What are the demanding global regions of the Child Presence Detection System 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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