Due to rapid technological development in the automotive sector, the necessity, as well as demand for an automotive safety system, is rising. Market Research Future (MRFR) has published a research report about the global automotive safety system market that foretells raise at 9% CAGR (Compound Annual Growth Rate) for this market between 2017 and 2023.
The critical factors driving the global automotive safety system market growth are growing awareness about road safety measures, increased efforts of automotive manufacturers to building their repute & brand name to maintain the brand goodwill and the increasing number of high-end and high-performance cars in the market.
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The global automotive safety system market segmentation segments the market into active technology, passive technology, fuel used, offering, vehicle type, and lastly, region. Based on active technology, this market has been segmented into anti-lock braking system (ABS), blind spot detection (BSD), electronic brakeforce distribution (EBD), electronic stability control (ESC), lane departure warning (LDW), and tire pressure monitoring system (TPMS).
On the basis of passive technology, the market has been segmented into the airbag, pedestrian, and whiplash protection. In the context of fuel used by the vehicles, the market has been segmented into diesel, electric vehicle (EV), hybrid electric vehicle (HEV), and petrol. As per the offering, the market has been segmented into hardware and software. By vehicle type, the market can be segmented into passenger vehicle, heavy commercial vehicle (HCV), and light commercial vehicle (LCV).
The regional segmentation of the global automotive safety system market has segmented the global market into regional markets namely Asia Pacific, North America, Europe, the rest of the world (RoW). North America is the largest regional market due to technological advancement, established automotive industry, world’s best road infrastructure, and the presence of many important automakers in this region, especially in the United States of America (USA). In the USA, the number of automobiles is almost equal (if not more) to the population there. After the USA, Canada is the biggest country-specific market in this region.
Europe is an important market because it produces some of the most innovative and technologically advanced automobiles which invariably leads to better and faster cars. In this region, the important country-specific markets are Germany and Spain. France and the United Kingdom (UK) are two important economies in this region.
Based on the number of automobiles manufactured and sold, the Asia Pacific region is said to be the biggest automotive market. Hence, this region has the highest vehicle population, resulting in market growth. India is the most important market in this region, followed by the remaining countries in the Asia Pacific region. China and Japan are two important economies in this region.
Key Players
The key players in the global automotive safety system market include Autoliv Inc. (USA), Continental AG (Germany), Delphi Automotive PLC (Aptiv PLC) (USA), Denso Corporation (Japan), Johnson Electric Holdings Limited (Hong Kong), Magna International Inc. (Canada), Mobileye N.V. (Israel), Robert Bosch GmbH (Germany), Takata Corporation (Japan), and TRW Automotive (USA).
Latest Industry News
In a bid to ease safety concerns across the top of the Mount Panorama circuit, plans have been made to fit an in-car warning system into every car racing at the 2019 Bathurst 12 Hour. 22 JAN 2019
Hyundai is developing the world’s first multi-collision airbag system that significantly improves airbag performance in multi-collision accidents. 21 JAN 2019
Victoria State Government has awarded Bosch $2.3 mn from the Connected and Automated Vehicle Trial Grants Program, along with the state’s first Automated Driving System permit for on-road testing of highly automated driving systems. Automated vehicle technology will be tested in rural Victoria this year. 22 JAN 2019
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