India Vehicle Detection Occupancy System Market was valued US$ XX Mn in 2018 and is expected to reach US$ XX Mn by 2026, at CAGR of XX% during forecast period of 2019 to 2026.
India Vehicle Detection Occupancy System Market Drivers and Restrains:
Vehicle occupancy detection system is the motion detecting device, which is used to detect the presence of a vehicle to automatically control the traffic systems. Occupancy system have gone through several technological advancements since their development due to the continuous demand in the market for e.g., time saving devices at toll. The increasing demand for time-efficient devices and favorable government policies regarding traffic management are the two major driving factors for India vehicle occupancy detection system market. There is a great potential to reduce the time consumption by mounting occupancy system on toll plaza as well as on traffic signals. The rising construction in the HOV lanes in toll plaza is another major driver for the vehicle occupancy detection system market.
However, the accuracy of speed information is poor with low-resolution sensors are restraining the India vehicle occupancy detection market growth in the upcoming period. Infrared technology is likely to create beneficial opportunities for manufacturers in the global market. This is an evidence, as the revenue from infrared technology in the vehicle occupancy detection system market is estimated to reach approximately XX% by 2026.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
India Vehicle Detection Occupancy System Market Segmentation Analysis:
Based on the Technology, the India vehicle occupancy detection system market has been segmented into Infrared, Ultrasonic and Hybrid. Over the forecast period, the infrared technology segment is predicted to grow at the CAGR of XX%. The infrared cameras are used in the vehicle occupancy detection system to deliver consumers with a high range of monitoring capabilities in several lighting condition. These cameras also confirm road safety, even measure the heart rate of the driver and they trace changes in face temperature to detect sleepiness while driving in HOV lanes. Recently, the demand for more precise and automated vehicle occupancy detection systems with high tolerance to low visibility conditions has increased.
India Vehicle Detection Occupancy System Market Competitive landscape
Major Key players operating in this market are Siemens AG, Indra Sistemas, NEC Corporation of America, FORTRAN Traffic Systems Limited, Vehicle Occupancy Detection Corporation, and Invision AI, Inc. Manufacturers in the vehicle detection occupancy system are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
The objective of the report is to present a comprehensive analysis of India Vehicle Detection Occupancy System Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding India Vehicle Detection Occupancy System Market dynamics, structure by analyzing the market segments and project the India Vehicle Detection Occupancy System Market size. Clear representation of competitive analysis of key players By Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the India Vehicle Detection Occupancy System Market make the report investor’s guide.
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