Occupant Sensing System Market Projected to Reach $1.6 Billion and Whiplash Protection System Market Projected to Reach $2.1 Billion by 2019
Dallas, TX (PRWEB) November 11, 2014 -- The report “Automotive Occupant Sensing System (OSS) and Whiplash Protection System (WPS) Market for Passenger Cars - by Geography - Trends and Forecasts 2014 - 2019” classifies and defines the automotive occupant sensing system and whiplash protection system market in terms of volume and value.
The occupant sensing system market in terms of value is projected to grow $1.6 Billion and whiplash protection system market to grow $2.1 Billion by 2019 at a healthy CAGR of 14.3% and 13.8% respectively from 2014 to 2019.
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Advanced passive safety systems have already made a significant impact within automotive industry making them more efficient, reliable and safer. Modern vehicles safety passive systems are efficiently reducing the risk of injuries to the passengers. Technological advancements, worldwide safety norms and most importantly affordability are the key factors in terms of making vehicles safety systems as a standard offering / integral part of modern automobiles.
As a consequence, occupant sensing system and whiplash protection system market size, in terms of value, is expected to grow at a CAGR of 14.3% and 13.8% respectively, from 2014 to 2019.
North America and APAC are expected to show significant demand for these systems, on account of rising new vehicle sales as well as need of emerging markets such as China, South East Asia, India, South America and Russia. Yet another factor to contribute significantly in terms of increasing the demand for safer vehicles is the New Car Assessment Program’s (NCAP) where vehicles are awarded with ratings based on its safety performance.
The occupant sensing system and whiplash protection system market is dominated by a few global players and many regional players. A few of the key players are Robert Bosch (Germany), Autoliv Inc. (Sweden), Continental AG (Germany), Takata Corporation (Japan), and others. The top five players accounted for about 50% of the market in 2013. Robert Bosch is the market leader, and it supplies active and passive safety systems through the Bosch automotive technology segment.
Bosch’s worldwide presence enables them to consistently maintain high levels of customer orientation. The Bosch Group intends to build its first manufacturing site in Indonesia, which is expected to begin production in 2014. Bosch has also opened a new plant in Chengdu, western China that will manufacture safety systems for local customers/market.
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Advance technologies and production system will help Bosch sustain its market position. Recently, Bosch launched a new generation of inertial sensors, such as the SMI7xy sensor platform, which is designed specifically for active safety systems and driver assistance systems. Bosch also developed a new generation of acceleration sensors that will make airbag development easier.
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