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According to data provided by the National Highway Traffic Safety Administration (NHTSA), over six thousand pedestrians were killed in traffic crashes owing to this government had implemented stringent regulations on the safety of pedestrians and occupants. Stringent government safety regulations are expected to drive the pedestrian detection system market over the forecast period. Also, the New Car Assessment Programs (NCAP) and government rules for the safety of the pedestrian is supporting the automobile manufacturers to install safety system in their vehicles. The growing awareness about safety among the consumers is also likely to boost the market for the pedestrian detection system. The increasing safety concern about pedestrians in developing countries is also expected to drive the market’s growth positively.
Key Market Driver -
The stringent government safety regulations regarding pedestrian is the key factor driving the growth of global pedestrian detection system market.
Key Market Restraint -
The initial cost of the pedestrian detection system and also bad weather leading to difficulties for the detection of the pedestrian, these factors are expected to restrain the market’s growth.
The OEMs are further focusing on the research and development for the continuous development of the safety features of the vehicles. The difficulties in detecting the pedestrian owing to bad weather as well as artificial intelligence and the also high initial cost of the pedestrian detection system are factors expected to hamper the growth of the market over the forecast period.
The major players that are present in the global pedestrian detection system market include Robert Bosch GmbH (Germany), Mobileye (Isreal), Continental AG (Germany), FLIR System (U.S), and Denso Corp. (Japan), among others.
Globally, the pedestrian detection system market has been segmented based on the type, component type, and region. Based on the type, the further market has been segmented into the video, infrared, hybrid, and others. The hybrid type pedestrian detection system segment is expected to dominate the market over the forecast period.segment is anticipated to dominate the market over the forecast period. The infrared type segment is also expected to show good growth in the market over the forecast period.
Based on component type, further, the pedestrian detection system market has been segmented into sensors, radars, cameras, and others. The radars segment is expected to dominate the market over the forecast period. Radar can operate multiple lanes using only one instrument compared to sensors, which requires many sensors to detect. This factor is expected to drive the radar segment growth in the market. The camera segment is also expected to show good growth in the pedestrian detection system market over the forecast period owing to the accurate measurement of the speed and position of the pedestrian.
Geographically, the pedestrian detection system market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW). Europe is expected to dominate the pedestrian detection system market over the forecast period. Germany is expected to be a leader of this market owing to rising safety concerns of pedestrians, cyclists, and passengers and also by increasing demand for the advanced driver assistance system for collision warning. Also, the European Commission has made mandatory for the installation of safety features in the new vehicles, and this factor is also likely to boost the market for the pedestrian detection system.
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North America is also expected to show good growth in the pedestrian detection system over the forecast period. The stringent regulations implemented by the government bodies to reduce the road fatalities in this region are likely to drive the market’s growth in this region. Asia Pacific is also expected to show steady growth in this market over the forecast period owing to factors such as the slow adoption rate of the advanced safety technologies in the vehicles.
By Component Type
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