Global Vehicle Occupancy Detection System Market is valued approximately at USD 27.82 million in 2019 and is anticipated to grow with a healthy growth rate of more than 18.50% over the forecast period 2020-2027. Vehicle occupancy detection systems are electronic systems used inside a vehicle for vehicle identification, detection, and passenger counting purposes. In order to monitor and operate high occupancy vehicle (HOV) lanes and high occupancy toll (HOT) lanes, the vehicle occupancy detection system plays an important role in law enforcement. These systems are mounted on top of the HOV lanes with the help of racks at specific distances throughout the HOV lanes or at HOV toll booths. A typical vehicle occupancy detection system consists of vehicle detector, camera system, and video analytics systems. They have the ability to keep the roads safer by reducing the number of accidents which is expected to enhance the demand for the vehicle occupancy detection system.. For Instance: According to World Economic Forum, these are the cities with the highest level of congestion, with Bogota in Colombia ranking at number one. The reasons for congestion include poor public transportation, geography and more people driving cars. In Bogota, the average person loses 191 hours a year due to traffic. In the worlds biggest cities, the demand to drive far outstrips the supply of roads. As a result, commuters in major metropolitan areas face massive congestion. In 2019, the two cities that topped the list were Bogota, Colombia and Rio de Janeiro, Brazil, with the average person losing 191 hours and 190 hours to traffic each year, respectively. However, different weather conditions decreases the accuracy of the vehicle occupancy system which impedes the growth of the market over the forecast period of 2020-2027. Also, Opportunityis the government policies to make modifications in their regulations to ensure the safety of their citizens, this will lead to the adoption of vehicle occupancy detection system.

The regional analysis of global Vehicle Occupancy Detection System market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World.North America is the leading/significant region across the world in terms of market share owing to the technological advancements and growth of the automotive sector in the region. Whereas, Europe is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such astechnological advancements and the presence of a significant number of players manufacturing vehicle occupancy detection systems in the region would create lucrative growth prospects for the Vehicle Occupancy Detection System market.

Major market player included in this report are:
Siemens
Conduent Inc.
Fortran Traffic System Limited
Indra Sistemas
Invision AI
NEC(Nippon Electric Company) Corporation of America
TransCore
Xerox Corporation
NOVELIC
Texas Instruments Incorporated

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Technology
Infrared
Ultrasonic
Hybrid
By Installation
Fixed
Mobile
By Application
Commercial Vehicles
Passenger Cars
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year 2017, 2018
Base year 2019
Forecast period 2020 to 2027

Target Audience of the Global Vehicle Occupancy Detection System Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors