In-Cabin Monitoring Radars Market is Expected to Grow at a CAGR of 83.2% During the Forecast Period
Reports and Insights has published a new report titled, “In-Cabin Monitoring Radars Market: Opportunity Analysis and Future Assessment 2022-2030”
In-cabin Monitoring Radars Market, By Technology (Wave Radars (mm-Wave Radars, Frequency-Modulated Continuous-Wave (FMCW) Radars), Ultra-Wideband (UWB) Radars), By Frequency (24 Ghz, 60 Ghz, 79 Ghz, Others), By Application (Vital Sign Detection (Respiratory Rate, Heart Rate, Heart Rate Variability), Child Presence, Seat Occupancy Detection, Body Pose (in/off Position), Seat Belt Recognition, Other), By Vehicle Type (Hatchback, Sedan, MPV, MUV, SUV) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a double digit CAGR for the period between 2022 and 2030.
In 2022, in-cabin monitoring radars market is estimated to be valued at US$ 9.7 Mn and expected to grow significantly at a CAGR of 83.2% over the forecast period.
In-cabin monitoring can be inferred as an umbrella expression for Driver and Occupant Monitoring Systems (DMS and OMS). The primary conformation is that a separate camera or multiple cameras are installed into the cabin of a vehicle. Then one can keep a check of the cabin, the people and the other things that are in it to make a secure, safer, and more pleasant environment. For carrying out cabin monitoring, a radar sensor is installed on the roofing of the car cladding the seats. This, along with a finely-tuned field of view, aids with the determination of any kind of live objects in the car- in this event, pets and kids.
Primarily, the rapid rise in the number of road accidents is majorly encouraging the emergence of innovative technologies in the automotive industry all across the world which is significantly driving the demand of in-cabin monitoring radars across the markets. As per the World Health Organization, about 1.35 million people lose their lives every year due to road traffic crashes. In addition to that, the in-cabin monitoring radar’s capacity to discern through solid substances opens the way to observe and keep in check driver and occupant’s status, determine an unattended child, and assess driver’s vital signs with higher accuracy better than ever. Such factors are projected to boost the growth of the global in-cabin monitoring radars market significantly over the future years.
Moreover, the key players of the market are also aggressively going to great lengths in order to strengthen their position in the market. For instance, Harman International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd. that is majorly aiming on connected technologies for consumer, automotive, and enterprise markets, recently announced the acquisition of Caaresys, an Israel-based company that creates vehicle passenger monitoring systems driven by low-emission, contactless radar. This acquisition is carried out taking into account the in-cabin radar sensor and algorithm solution from Caaresys which is projected to reinforce Harman’s automotive product offerings, taking advantage of the company’s robust consumer-centric Digital Cockpit and ADAS solutions. Such factors are further estimated to offer lucrative opportunities to the global in-cabin monitoring radars market in the following years.
Reports and Insights Study identifies some of the key participating players in the in-cabin monitoring radars market globally are Infineon Technologies, HARMAN International, VALEO, NOVELIC, Smart Radar System Inc., Vayyar Imaging Ltd., Continental Corporation, InnoSenT GmbH, bitsensing, Inc., Texas Instruments, Idneo Company, s.m.s, smart microwave sensors GmbH, LG Innotek, Aptiv, and among others.
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