Global Automotive Safety Systems Market Highlights 2020-2029
Global automotive safety systems market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2020-2029. Extensive research associated with automotive safety systems in western countries, along with the government’s stringent safety regulations and organic growth in the automobile production across the globe are driving the market of automotive safety system. Moreover, the rising accidents and the increasing vehicle safety concerns among the consumers is projected to drive the market growth. To meet the increasing standards for safety features in the vehicles major advanced driver assistant system (ADAS) manufacturers in the market have started investing in R&D activities. For instance, Continental AG invested USD 59 million for building a new R&D centre in Queretaro, Mexico. As consumers are gaining awareness about the advanced safety features and technologies, they are indicating an interest in improving their vehicles' safety systems. According to the data by the US National Highway Traffic Safety Administration (NHTSA), about 88% of rear-end collisions occur due to the negligence of the driver, or following the other vehicle closely.
The market has been segmented by technology into active and passive safety systems. Active safety systems are projected to be the fastest growing segment of this market, by technology. Continuously increasing demand for luxury vehicles will drive the growth of this segment. The growing trend toward autonomous vehicles is expected to contribute to the growth of the active safety systems. Based on end-user the market is segmented into OEMs and aftermarket. OEM’s market is likely to remain the largest end-user type during the forecast period and is expected to witness a higher growth rate in the same period, driven by increasing penetration in the newly-build vehicles across regions. All major automakers have started using active safety systems into some of their vehicles. They all have been in touch with suppliers to develop low-cost advanced active safety systems for their mass volume models. CLICK TO DOWNLOAD SAMPLE
Global Automotive Safety Systems Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. North America is projected to remain the largest active safety systems market during the forecast period whereas Asia-Pacific the largest passive safety systems market in the same period. The Asia pacific region is estimated to dominate the global automotive safety system market. The rising consumer income levels, increased vehicle production in developing countries such as India and China, and increase in the number of luxury vehicles in countries such as Japan fuel the growth of this market in Asia pacific region. Furthermore, the complexity and the high cost of features are the key restraint for the growth of this market. These systems comprise micro-controller units, electronic control units, and various sensors such as ultrasonic, image, radio or laser sensors, and infrared sensors. These components increase the complexity of the safety features, thereby raising the cost. Currently, a limited class of buyers can afford driver assistance features.
The automotive safety systems market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the automotive safety systems market includes the following segments:
By Technology
- Active Safety Systems
- Anti-Lock Braking Systems (ABS)
- Automatic Emergency Braking (AEB)
- Blind Spot Detection (BSD)
- Electronic Brake Force Distribution (EBD)
- Electronic Stability Control (ESC)
- Forward-Collision Warning (FCW)
- Lane Departure Warning Systems (LDWS)
- Traction Control System (TCS)
- Tire Pressure Monitoring Systems (TPMS)
- Passive Safety system
- Seatbelts
- Airbags
- Active hood lifters
- Pedestrian Protection Airbag
- Whiplash Protection system
By Vehicles Type
- On-Highway Vehicles
- Passenger Cars
- Light Commercial Vehicle
- Buses
- Trucks
- Off-Highway Vehicles
- Agriculture vehicles
- Construction Vehicles
- Electric vehicles
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
By End User
- Aftermarket
- OEMs
Growth Drivers
- Government regulations pertaining to vehicle safety
- Rise in demand for a safe, efficient, and convenient driving experience
- Increasing demand for luxury cars
Challenges
- Security threats
- Maintaining a balance between cost and quality
- The intense rivalry between the manufactures in the automotive industry
Top Featured Companies Dominating the Market
- Robert Bosch GmbH
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- ZF Friedrichshafen AG
- Continental AG
- Autoliv Inc.
- Ford Motor Company
- Hyundai Motor Group
- Magna International Inc.
- Denso Corporation
- Aptiv Plc.
