To reduce the road accidents government is enforcing stringent rules and regulations for increased safety of individuals which is driving the Automotive Active Safety System market growth.
According to the current analysis of Introspective Market Research, the global Automotive Active Safety System market was valued at USD 46.67 Billion in 2019 and is expected to reach USD 131.73 Billion by the year 2026, at a CAGR of 16.14%.
Implementation of stringent rules and regulation due to the increasing number of the road accidents has increased the rate of the automotive active safety system market. According to the report of International organization of Motor Vehicle Manufacturers, around 96 million cars were produced in 2018. The demand for the safety features in-built in them has been increasing over the years which has boosted the market size and is expected to flourish in the forecast period. Although, the high investments needed to develop the business is causing to be a restraint on the new players which is hampering the market growth.
According to the analyst, growing production of vehicles for vehicles have increased the demand for active safety system. Companies initiative that are mainly focusing on the standards of improving driver’s safety is the primary driver for the growth. The increased safety of the drivers will result in many companies to develop parts that provide high strength and guide the driver by using advanced technologies. The increase in demand for the safety technologies will have increased use of active safety system in the vehicles. Major industry players investing in the R&D of new technologies to boost the safety features might cause the challenge to the competitor start-ups who are just entering the market.
The Global Automotive Active Safety System market is segmented by Product Type (Tyre-Pressure Monitoring System, Lane Departure Warning, Adaptive Cruise Control, Night Vision System, Driver Monitoring, Anti-Lock Braking System And Blind Spot Detection), by Vehicle Type (Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicles and Others), by Occupant Type (Driver, Passenger, Child, and Pedestrian). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest:
- North-America is dominating the market with the highest industry players in the same region and due to the heavy production of vehicles.
- Europe is showing a major boost in the forecast period due to the increased production of safety cars and the majority of sales recorded in that region.
- Developing countries like India and China are expected to grow exponentially in the forecast period with the highest CAGR owing to the government stringent rules and regulations regarding driving safety concerns that is bound to increase the market size.
Key Participants include Bosch, Continental, Delphi Technologies, ZF Friedrichshafen, Autoliv, Hyundai Mobis, Valeo, DENSO, Magna International, FLIR Systems, Infineon Technologies, Ficosa International S.A., PSA Peugeot Citroen, Borg Warner Inc., CAx Software.
For this report, Introspective Market Research have segmented the Global Automotive Active Safety System markets market on the basis of Region:
Regional Outlook (Revenue in USD Billion; Volume in Units, 2019-2025)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM