Global Automotive Safety System Market By Technology (Active Safety Systems, Passive Safety Systems), On-Highway Vehicle Type (PC, LCV, M&HCV, Buses, Trucks), Off-Highway Vehicle Type (Agriculture Vehicle, Construction Vehicle), Electric Vehicle (BEV, FCEV, HEV, PHEV), Offering (Hardware, Software), End-User Type (OEM, Aftermarket)
MARKET ANALYSIS: GLOBAL AUTOMOTIVE SAFETY SYSTEM MARKET
Global automotive safety system is expected to rise to an estimated value of 190.89 billion witnessing a substantial CAGR in the forecast period of 2019-2026. The rise in the market value can be attributed to the rising accidents, rising need for safety and technological advancements.
MARKET DEFINITION: GLOBAL AUTOMOTIVE SAFETY SYSTEM MARKET
Automotive safety system is the accumulated collection of components & software which are incorporated in vehicles that save the driver and passengers from any injury or mishappening due to accidents or sudden breaks. It provides protection to the passengers in the vehicles at the time of any crash and serves as a protection from the sudden strike against the interior parts of the vehicles, thereby minimising the possibility of injury. Various safety devices have been developed which are placed at different sides of the vehicles to ensure maximum protection of the passengers.
- Rising demand for vehicles with advanced and autonomous features boosts the growth of this market
- Rising initiatives taken by the government to promote safety systems emission accelerates the growth of this market
- Rising disposable income and overall economic growth raises the demand for vehicles with safety devices
- Disruption of software in most appliances results in rising the security threats of vehicle theft which is inhibiting the adoption of such devices and restraining the market growth
- Utilization of these systems make it complex to use and also raises the cost of vehicles thus hampering the market growth
COMPETITIVE ANALYSIS: GLOBAL AUTOMOTIVE SAFETY SYSTEM MARKET
Global automotive safety system market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive safety system market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
GLOBAL AUTOMOTIVE SAFETY SYSTEM MARKET SEGMENTATION:
- 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 Systems
- Occupant Protection
- Pedestrian Protection Systems
- Pedestrian Protection Airbag
- Hood Lifters
- Whiplash Protection System
- Occupant Protection
By On-Highway Vehicle Type
- Passenger Cars (PC)
- Light Commercial Vehicles (LCV)
- Medium & Heavy-Duty Commercial Vehicles (M&HCV)
Key Developments in the Market:
In June 2019, Harman International launched a new automotive safety solution, which is a Dual-mode V2X system. This system combines hardware and software, along dedicated short-range communication and 5G cellular vehicle-to-Everything (C-V2X) networks that remove assumptions for safety solutions. It transfers all the data of the connected vehicle and its immediate surroundings, which comprises of other vehicles, building and infrastructure and also the people walking on the street. This system improvises safety on roads while enriching the entire customer experience.
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