Research Nester released a report titled “Automotive Active Safety System Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global automotive active safety system market in terms of market segmentation by product, by vehicle type, by fuel type, by offering and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global automotive active safety system market can be segmented on the basis of product, vehicle type, fuel type, offering and region. On the basis of product, it is sub-segmented into tire-pressure monitoring system, lane departure warning, adaptive cruise control, night vision system, driver monitoring, anti-lock braking system, blind spot detection and others, out of which, the blind spot detection segment is expected to have a robust growth on account of growing awareness about its applications and security features.
The automotive active safety system market is anticipated to grow at a CAGR of 11.25% over the forecast period i.e. 2019-2027. Rising use of mobile phones while driving is one of the major reason that is driving the need for safety features in the vehicles, which in turn is anticipated to drive the market growth. Additionally, the stringent government rules and regulations for minimizing the road accidents and growing awareness regarding the prevention from accidents is supporting the growth of active safety system market.
Geographically, the global automotive active safety system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in North America region is anticipated to hold highest market shares in the global automotive active safety system market. The growth in this region can be attributed to rising demand for active safety system in the vehicles. This growth is trailed by the market in Asia Pacific and Europe region on the back of rising disposable income of individuals and adoption of stringent rules and regulations by governmental bodies.
Growing Demand for Vehicles to Augment the Market growth
According to OICA’s (International Organization of Motor Vehicle Manufacturers) production statistics, in 2018, around 95 million cars and commercial vehicles were produced. The growing demand for personal vehicles, especially with pre-installed safety features along with implementation of safety rules in order to minimize road accidents is estimated to fuel the growth of active safety system market over the forecast period.
However, high initial investment is resisting the new players from entering into the market, which might hinder the growth of the active safety system market in upcoming years.
This report also provides the existing competitive scenario of some of the key players of the global automotive active safety system market which includes company profiling of key companies such as Delphi Technologies, Bosch, Continental AG, ZF Friedrichshafen, Autoliv, Hyundai Mobis, Valeo, DENSO, Magna International, FLIR Systems and Infineon Technologies. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive active safety system market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.