Sep 17 2014
Research and Markets has announced the addition of the "Automotive Occupant Sensing System (OSS) and Whiplash Protection System (WPS) Market for Passenger Cars - by Geography - Trends and Forecasts 2014 - 2019" report to their offering.
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.
Automotive safety systems have become more advanced, sophisticated, and efficient. Today, the automotive industry is more inclined towards the use of advanced technologies to reduce number of accidents and mitigate the impact of accidents on occupants. Automotive safety systems have played an important role in achieving these targets, where these systems have made vehicles safer for the occupants. The recent rise in the attitude of the governments and consumers towards safety attributes of vehicles is one of the major drivers for the automotive safety system market.
Automotive passive safety systems have evolved from seat belts and airbags to occupant sensing and other efficient automotive passive safety systems. These transitions took place due to several reasons; the increasing concern of consumers towards safety and their increasing willingness to pay for occupant safety, constantly updated rating system of organizations like New Car Assessment Program (NCAP) and highly competitive market made companies to do extensive R&D work.
Automotive passive safety systems are growing at a significant rate in Asia-Pacific and the ROW regions because of the increase in their purchasing power, high standard of living, growing GDP rate, increase in government's regulatory actions for safety and growing vehicle sales. However, North America has the highest market share in the global occupant sensing market and Asia-Pacific has the highest market share in the global whiplash protection system market. Developing countries like India, China, Russia, Brazil, and Mexico are expected to have high growth rate in the demand for automotive occupant sensing system and whiplash protection system from 2014 to 2019.
The global automotive occupant sensing system and whiplash protection system market is dominated by a few top players such as Robert Bosch (Germany), Autoliv Inc. (Sweden), Continental AG (Germany), Takata Corporation (Japan), and Delphi Automotive PLC (U.K.).