Market Insights
The child presence detection system market was estimated at USD 80 million in 2022 and is likely to grow at a CAGR of 45.39% during 2023-2028 to reach USD 764.17 million in 2028.
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Market Dynamics
Introduction
A child presence detection system is a device installed in a passenger vehicle that sends an alert signal to the child's caretaker when the child is left unattended for an extended period.
Market Drivers
The major factors driving the growth of the child presence detection system market are-
- Growing concern about the number of children dying inside hot automobiles.
- Increasing affordability.
- A surge in the sale of SUVs and luxury vehicles.
Furthermore, the system's safety features, technological advancement, and government measures and legislation aimed at ensuring the safety of children in hot automobiles are expected to create more opportunities for industry participants over the forecast period.
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Key Players
Some of the key players in the market are-
- Aptiv PLC
- Continental AG
- Denso Corporation
- Faurecia
- Infineon Technologies AG
- Magna International AG
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- Valeo
- Visteon Corporation.
Note: The above list does not necessarily include all the top players in the market.
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Segment Analysis
Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Sensor Type Analysis
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Ultrasonic Sensors, Radar Sensors, Pressure Sensors, and Others
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The radar sensors segment is expected to account for the lion's share of the market during the forecast period.
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Sales Channel Type Analysis
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OEM and Aftermarket
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The OEM segment is expected to account for the larger share of the market during the forecast period.
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Vehicle Type Analysis
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Hatchback, Sedan, SUV, and MUV
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The MUV segment is expected to account for the major share of the market during the forecast period.
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Regional Analysis
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North America, Europe, Asia-Pacific, and Rest of the World
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North America is estimated to be the leading region in the market during the forecast period.
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By Sensor Type
Based on the sensor type, the market is segmented as ultrasonic sensors, radar sensors, pressure sensors, and others. The radar sensors segment is expected to account for the lion's share of the market during the forecast period. Radar sensors are popular due to their suitability for application needs, as they lessen privacy concerns that other sensing technologies, such as cameras, etc.
By Sales Channel Type
Based on the sales channel type, the market is segmented as OEM and aftermarket. The OEM segment is expected to account for the larger share of the market during the forecast period. Production, procurement, and installation of child monitoring and cabin sensing features are among the processes performed in the OEM segment. Many automakers are working to ensure safety and comfort in order to comply with the recent and upcoming child presence detector technologies around the world. OEM stands for the original equipment manufacturer, and it is more credible and genuine to the automotive manufacturer. General Motors is one of the major OEMs, which is offering child presence detection systems on its passenger cars.
By Vehicle Type
Based on the vehicle type, the market is segmented as hatchback, sedan, SUV, and MUV. The MUV segment is expected to account for the major share of the market during the forecast period due to its cost-effectiveness than any other vehicle type. Furthermore, most MUVs have smaller engines than SUVs and a simpler layout. A simpler layout has fewer moving parts that can fail, resulting in lower maintenance costs.
Regional Insights
In terms of regions, North America is estimated to be the leading region in the market during the forecast period. The major factor driving the region's market growth is the increased demand for design safety improvements in the vehicle sector, which has significantly contributed to the growth of the child presence detection system market. Furthermore, growing awareness about the dangers of heatstroke in automobiles will boost the market growth during the forecast period. Several major players in North America are investing heavily in new technologies to improve their operations. The region has been quick to adopt new technologies in the automobile industry and, thus expects substantial growth opportunities over the forecast period.
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Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s child presence detection system market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The child presence detection system market is segmented into the following categories.
By Sensor Type
- Ultrasonic Sensors
- Radar Sensors
- Pressure Sensors
- Others
By Vehicle Propulsion Type
- Electric Vehicle
- ICE Vehicle
By Sales Channel Type
By Vehicle Type
By Region
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Market Segmentation
- Current market segmentation by any one of the sensor types by vehicle type.
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.