Automotive Rear Occupant Alert System Market: Size To Expand Significantly By The End Of 2019 - 2027

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 According to a new market report published by Transparency Market Research , titled, ‘Automotive Rear Occupant Alert System Market [Vehicle Type: Passenger Vehicles (Sedans, Hatchbacks, and SUVs) and Light Commercial Vehicles; Sensor Type: Pressure Sensors and Ultrasonic Sensors; Sales Channel: OEMs and Aftermarket] – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027‘, is expected to reach nearly US$ 800 Mn by 2027, expanding at a CAGR of nearly 20% during the forecast period.

Automotive Rear Occupant Alert System Market 

The global automotive rear occupant alert system market is projected to expand at a CAGR of nearly 20% between 2019 and 2027, according to a new research report by Transparency Market Research (TMR). 

According to the automotive rear occupant alert system market report, the global market is likely to be influenced by a range of political, economic, social, technical, and industry-specific factors. Europe is expected to witness rapid rise in the demand for automotive rear occupant alert systems, with the automotive rear occupant alert system market in the region anticipated to expand at a CAGR of nearly 23% during the forecast period. 

Growth of the Automotive Rear Occupant Alert System Market 

  • Currently, changing trends among customers regarding the safety features and strengths of vehicles are prompting automobile manufacturers to develop strong and safe vehicles. This is anticipated to fuel the demand for more safety features in vehicles during the forecast period.
  • Manufacturers are focused on the development of various advanced technologies for their vehicles and driver safety. Automotive manufacturers are incorporating various safety features in their vehicles, such as air bags, seat belts, and driver monitoring systems. These are a few basic safety features that are installed in vehicles in order to protect the driver and passengers from any serious fatality in case of a vehicle collision.

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Automotive Rear Occupant Alert System Market: Sensor Type Segment Analysis

  • In terms of sensor type, the global automotive rear occupant alert system market has been bifurcated into pressure sensors and ultrasonic sensors. The ultrasonic sensors segment is a prominent segment in the automotive rear occupant alert system market. The ultrasonic sensors segment held an 81.52% share in the automotive rear occupant alert system market in 2018.
  • The segment is estimated to maintain its dominance, and hold around 85% share in the automotive rear occupant alert system market by 2027. In terms of revenue, the segment is projected to reach a value of around US$ 675 Mn by 2027. The ultrasonic sensors segment dominated the automotive rear occupant alert system market in Europe, and held an 85.21% share in 2018. Its share is anticipated to rise to around 87% of the automotive rear occupant alert system market by 2027.

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