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Pedestrian Detection System Market Insight & Future Assessment for the Period 2019 – 2027

Press Release

Research Nester has released a report titled “Pedestrian Detection System Market – Global Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.

The National Highway Traffic Safety Administration (NHTSA) stated in one of their statistical reports that in the comparison of the fatality composition of 2009 and 2018, nonoccupant fatalities as a proportion of overall traffic fatalities increased by 6%, i.e. from 14% to 20% in-between 2009-18.

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The statistics portray the growing road fatalities of pedestrians, which is also a growing concern for the government of various economies around the globe. Governments across nations are adhering to strict norms and regulations for road safety and are raising awareness amongst the population for safety tips. Additionally, OEMs are made to adhere to strict safety regulation systems in vehicles, one such being the pedestrian detection system. Increasing awareness for road safety, growing demand for safety systems in vehicles, and the shifting trend towards advanced safety systems in vehicles, all of these factors are anticipated to support the growth of the pedestrian detection system market.

Additionally, stringent norms by the government, for instance, EU road safety policy and the NHTSA road safety guidelines, coupled with growing emphasis on the safety of passengers and pedestrians, all of these factors are anticipated to contribute significantly towards the growth of the pedestrian detection system market. In the statistics by National Highway Traffic Safety Administration (NHTSA), United States Department of Transportation, pedestrians killed in traffic crashes increased from 6075 numbers in 2017 to 6283 numbers in 2018, which was an increase of 3.4%.

The pedestrian detection system market is anticipated to record robust CAGR over the forecast period, i.e. 2019-2027. The market is segmented by component into sensors, cameras, radars, and others, out of which, sensors and cameras segment is anticipated to hold largest market share on account of the growing demand for aftermarket pedestrian detection systems, derived by the growing trend of deployment of aftermarket sensors and cameras. Additionally, stringent norms by the government of various economies is also inducing OEMs to indulge in the deployment of these components in vehicles as an added safety measure.

Geographically, the pedestrian detection system market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, Europe is anticipated to hold largest market share on account of strict regulations for road safety by the European Commission, for instance, “Vision Zero” goals and deployment of advanced driver-assistance systems (ADAS) in vehicles, as a measure to mitigate accidents and reduce fatalities. In the statistics by European Commission, 5320 pedestrians were killed in road accidents in the EU in the year 2016, which is 21% of all fatalities on roads.

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However, concerns for technical difficulties observed in pedestrian detection system owing to bad weather conditions, coupled with improper functioning of the artificial intelligence system in the pedestrian detection system is estimated to act as a barrier to the growth of the pedestrian detection system market during the forecast period.

This report also studies existing competitive scenario of some of the key players of the pedestrian detection system market, which includes profiling of Panasonic Corporation (TYO: 6752), FLIR® Systems, Inc. (NASDAQ: FLIR), Toyota Motor Sales, U.S.A., Inc., DENSO CORPORATION (TYO: 6902), Continental AG (ETR: CON), Mobileye, Aptiv (NYSE: APTV), Robert Bosch GmbH, AUDI AG (ETR: NSU), and Daimler AG (ETR: DAI).

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Pedestrian Detection System Market – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall pedestrian detection system industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the pedestrian detection system market in the near future.

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Pedestrian Detection System Market Insight & Future Assessment for the Period 2019 – 2027

This post was originally published on Trading Herald