Pune, India, Jan. 11, 2022 (GLOBE NEWSWIRE) -- The global pedestrian detection system market size is anticipated to grow substantially in the forthcoming years due to stringent government safety regulations regarding pedestrians. This information is published by Fortune Business Insights in its report, titled "Pedestrian Detection System Market, 2021-2028". The rising number of traffic accidents involving pedestrians is a major factor for the market growth. Moreover, rising safety standards mandated by the government authority are projected to integrate such systems into automobiles. In addition, substantial consumer awareness of the product is also so encouraging significant demand across the globe.
Driving Factor
Increasing Cases of Pedestrian Fatalities to Drive Market Growth
The rising cases of accidents involving pedestrians colliding with automobiles are driving the pedestrian detection system market growth. For instance, according to World Health Organization, cyclist accounts for 26% of casualties while two and three-wheelers account for 28% globally. The statistics have been increasing gradually and have become concerning to the government authorities globally.
Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/pedestrian-detection-system-market-102241
Segments
Hybrid Segment to Dominate the Market
Based on type, the market is segmented into video, infrared, hybrid, and others. By component type, it is divided into sensors, radars, cameras, and others. Based on geography, it is studied across North America, Europe, Asia Pacific, and the rest of the world.
COVID-19 Impact
Halted Automobile Productions to Affect Market Negatively
The outbreak of COVID-19 resulted in a disrupted supply chain in automotive industries. This is expected to affect the production of the pedestrian detection system as it is directly proportional to automotive sales. However, it is projected that the first and second quarters of 2021 will experience a steady recovery. The reopening of production facilities worldwide is anticipated to propel the market growth in the forthcoming years. Moreover, low cost of operations resulted in the industry stabilizing itself even under the declining product sales.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
please visit: https://www.fortunebusinessinsights.com/pedestrian-detection-system-market-102241
Report Coverage
The insights in the report are based on primary and secondary research to come up with authentic conclusions. The analysis is based on industry-wide data and market projections are estimated by our in-house experts. The data is classified on various bases and each segment meticulously studied to give strategies based on market dynamics. The indispensable guidance provided by our experts is beneficial for the new entrants in pedestrian detection system industry. The guidance includes business priorities, pricing, prominent business models, challenges, potential business expansion opportunities, and more. This report is not only beneficial for the new entrants or business holders of the market but also for the investors in this product.
In addition, several countries have mandated the integration of the systems into all new vehicles manufactured. Such mandates across the world are significantly contributing to the product sales.
Quick Buy - Pedestrian Detection System Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102241
Regional Insights
Mandates by European Commission to Aid Product Sales in Europe
Europe is expected to lead the pedestrian detection system market share in the foreseeable future. This is due to the mandate of the European Commission for all new cars to be equipped with safety equipment by 2021. In addition, the rising awareness of utilizing safety equipment in automobiles is propelling the market growth in the region. For instance, the mentioned mandate is predicted to have saved around 7,000 lives across Europe.
North America is projected to showcase substantial growth in the forthcoming years. This is due to stringent regulations implemented by government authorities in the region to prevent road fatalities. In addition, the growing consumption of automobiles in the region also contributes to the product sales.
Speak To Our Analyst: https://www.fortunebusinessinsights.com/enquiry/queries/pedestrian-detection-system-market-102241
Competitive Landscape
Companies Invest in Business Expansion to Intensify Market Competition
The fragmented structure of companies in the pedestrian detection system industry results in only a few prominent players. These players are focused on business expansion at the regional and global levels. Some of them are investing in advancements in production technology to increase the production efficiency of the system. Product launches, expansion, acquisition, partnership, technological advancement, and others are the key trends of the market. The key players are investing in reducing product costs to increase their consumer base across the globe.
List of Key Players Profiled in the Market:
- Robert Bosch GmbH (Germany)
- Mobileye (Israel)
- Continental AG (Germany)
- FLIR System (U.S.)
- Denso Corp. (Japan)
Ask for Customization of this Report: https://www.fortunebusinessinsights.com/enquiry/customization/pedestrian-detection-system-market-102241
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
