According to FMI, the market for automotive active safety system market is anticipated to reach a value of US$ 12.78 billion in 2022 and is expected to grow at a CAGR of 11.2% from 2022 to 2032.
Automotive active safety system market is gradually witnessing uptake in recent past due to growing concerns towards road safety. Automotive safety systems are turning out to be gaining lot of attention from automakers as well as customers. In order to protect the driver and passengers, manufacturers implement various safety features in a car. Safety features can be classified into two categories active safety system and passive safety system.
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The role of passive safety system comes into play during or after the accidents to minimize the damage from the collision whereas active safety system prevents the risk of collision or accidents. Active safety features are usually electronic and computer controlled components which are entering all aspects of modern vehicles right from navigation system to advanced infotainment system. In addition to comfort and convenience from electronic advancements, more opportunities exist to be explored in global automotive active safety system market.
Global automotive active safety system market is segmented on the basis of vehicle type as passenger vehicles and commercial vehicles. Automotive active safety market for passenger vehicles is further segmented into premium cars, luxury cars and mid-range cars. In Premium and luxury cars active safety system are more popular while in mid-range cars penetration of active safety system is comparatively less. Automotive active safety system market is comparatively low in case of commercial vehicles. With up gradation in technology and reduction in production cost, mid-range cars owners are increasingly using active safety system in automotive.
Global automotive active safety system market on the basis of product type is segmented as tyre-pressure monitoring system, lane departure warning, adaptive cruise control, night vision system, driver monitoring, anti-lock braking system and blind spot detection.
The trend for the installation of blind spot detection and adaptive cruise control during the forecast period is estimated to grow significantly in premium vehicles due to increasing awareness about the system application and safety features. In past few years’ automotive active safety system market witnessed significant growth due to growing awareness among customers and automakers towards road safety.
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Global automotive active safety system market is estimated to grow twofold with a double digit CAGR, as global automotive production is estimated to grow significantly during the forecast period. The global automotive active safety system market is segmented in seven key regions which are North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Middle East and Africa and Japan.
North America automotive active safety system market leads the global market in terms of value followed by Europe and Asia-Pacific. Increasing sales of premium cars, government’s regulations to minimize road accidents and healthy economic conditions are key drivers for global automotive active safety system market. With growing economy and increasing disposable income in emerging economies such as China and India, Asia Pacific region is expected to be potential growth region in automotive active safety system market. North America held the largest market share in global automotive active safety system market in 2013 and is expected to dominate during the forecast period.
Market Competition
Some of the examples of market participants in the global automotive active safety market include: Autoliv Inc., Robert Bosch GmbH, Continental AG, and Delphi Automotive LLP, TRW automotive, Denso Corporation, PSA Peugeot Citroen, Borg Warner Inc. and Ficosa International S.A. Getting into alliances and partnerships with major OEMs are key strategies followed by leading players in the global automotive active safety system market.
Some of the trends in automotive active safety systemmarket is shifting R&D efforts of OEMs from passive system to active system. For instance, Nissan has announced their plan to launch driverless cars by year 2020, and Volvo is also expected to release their autonomous cars on road by 2017.
Looking ahead in future, OEMs will have to develop new innovative products and features to sustain competition in automotive safety system market. Demographic trends such as preference of customers towards updated technology with increase in automotive sales globally are some of the key driving forces for automotive active safety system market.
The research report presents a comprehensive assessment of the automotive active safety system market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies and types.
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