Automotive Safety System Market to Gain Exponentially With Rising Demand
The Global Automotive Safety System Market is estimated to reach USD 152.7 Billion by 2024 at a CAGR of 10.1 %. The automotive safety system is designed to provide safety to the vehicle occupants by minimizing injuries caused by sudden jerks or accidents. These systems are classified into two segments, active safety systems, and passive safety systems. An active safety system plays an important role in reducing crashes and accidents by providing the driver with additional assistance in controlling the vehicle. This system is mostly electronic and controlled by a computer onboard. A passive safety system helps to protect vehicle occupants by reducing further injuries during the time of an accident. Seat belts and airbags are the common passive safety systems used in automotive vehicles.
Request for sample pdf @ https://www.forencisresearch.com/automotive-safety-system-market-sample-pdf/
Automotive Safety System Market: Drivers & Restraints
Market Drivers:
Rising Awareness Towards Safety & Security
Safety is a primary requirement in the automotive sector. Any safety or security failures may result in severe injury or loss of life. Rising vehicle accidents worldwide is driving the demand for automotive safety & security. As per the World Health Organization (WHO), around 1.35 million people annually die due to road accidents. To overcome this situation, International Standards, International Organization for Standardization (ISO 26262), and Society of Automotive Engineers (SAE J3061), have come up with strict vehicle safety and security standards. Hence rising awareness towards safety & security is expected to drive the automotive safety market during the forecast period.
Increasing Vehicle Population in Emerging Regions
Growing population and rising per capita income along with favorable foreign direct investment is driving the demand for the vehicle in emerging regions such as China and India. China’s auto sales will continue to grow over the next twenty years. Owing to improving road safety standards and supportive legislations for consumer awareness, the demand for vehicles is growing in emerging markets.
Hence the growth in automotive sales in the emerging regions is expected to boost the automotive safety market during the forecast period.
Market Restraints:
High Cost of Safety Systems
Safety is one of the biggest factors while purchasing a new car however it is associated with high cost. Advanced Driver Assistance Systems (ADAS) is built in a variety of high-tech sensors. This technology helps in preventing sudden jerks and reducing the number of injuries and deaths related to an accident.
However, the high cost and high repair cost of ADAS is expected to restrain the market during the forecast period.
Automotive Safety System Market: Key Segments
· Key Segments by Type: Active Safety System and Passive Safety System
· Key Segments by Vehicle Type: Internal Combustion Engine (ICE), Electric Vehicles (EVs) and
· Key Regions Covered: North America, South America, Europe, Asia-Pacific, and Rest of the World with individual country-level analysis.
Automotive Safety System Market: Report Scope
The report on the automotive safety system market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Request for Report Methodology @ https://www.forencisresearch.com/automotive-safety-system-market-request-methodology/
Key Companies Covered
· Robert Bosch GmbH (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
· Autoliv Inc.
· DENSO CORPORATION
· Magna International Inc.
· Continental AG
· ZF Friedrichshafen AGs
· HYUNDAI MOBIS
· Mobileye
· Valeo SA
· Joyson SAFETY Systems
· Other Key Companies
Automotive Safety Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Automotive Safety System Market, by Type
Active Safety System
· Anti-Lock Braking Systems (ABS)
· Electronic Stability Control (ESC)
· Tire Pressure Monitoring System (TPMS)
· Lane Departure Warning System (LDWS)
· Adaptive Cruise Control (ACC)
· Driver Monitoring System (DMS)
· Blind Spot Detection (BSD)
· Night Vision System (NVS)
· Others
Passive Safety System
· Airbag
· Seatbelt
· Occupant Sensing System
· Whiplash Protection
· Child Safety System
· Pedestrian Safety System
· Others
Automotive Safety System Market, by Vehicle Type
· Internal Combustion Engine (ICE)
· Electric Vehicles (EVs)
· Others
Get Consultation with our analyst here: https://www.forencisresearch.com/automotive-safety-system-market-consult-with-an-analyst/
Automotive Safety System Market, by Region
Asia-Pacific
· China
· India
· Japan
· South Korea
· Australia
· Rest of Asia-Pacific
North America
· US
· Canada
· Mexico
Europe
· Germany
· UK
· France
· Italy
· Spain
· Norway
· Rest of Europe
· Rest of the World
· Iran
· Brazil
Key Questions answered by the report
· What are the major developments impacting the global market and its growth?
· What will be the effects of key developments in the global market on the industry and the global market players in the near and far future?
· What are the evolving types of the global market?
· What are the evolving applications of the global market?
· What are the major characteristics that will affect the global market growth during the study period?
· Who are the key global players operating in the global market?
· How are the major players leveraging in the existing global market conditions?
Report Audience
· Automotive Safety System Market Providers
· Automotive Safety System Market Solution and Services Suppliers, Distributors and Dealers
· End-Users of Varied Segments of Automotive Safety System Market
· Government Bodies and Intellectual Institutions
· Associations and Industrial Organizations
· Research & Consulting Service Providers
· Research & Development Organizations
· Investment Banks & Private Equity Firms
Purchase Premium Industry Report @ https://www.forencisresearch.com/automotive-safety-system-market-purchase-now/
About Forencis Research
Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.
Contact Us
FORENCIS RESEARCH
Phone: +1 (720) 306 9020
Email: [email protected]
For more market research insights, please visit https://www.forencisresearch.com