Automotive Active Safety System Market Analysis By Growth 2027
Research Nester released a report titled “Automotive Active Safety System Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global automotive active safety system market in terms of market segmentation by product, by vehicle type, by fuel type, by offering and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The rising cases of road accidents are estimated to result in growing demand for safety systems which are provided inside automobiles. Such systems are incorporated with vehicles and assist in minimizing the risk of accidents by sending out warning signals to the driver, who can then avert the automobile and prevent any collision.
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According to WHO, around 1.35 million people die every year as a result of road accidents, out of which, the majority of victims are children and young adults aged 5-29 years. 93% of road accidents in the world occur in low and middle income countries, which contain approximately 60% of the world’s total vehicles.
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The automotive active safety system market is anticipated to grow at a CAGR of 11.25% during the forecast period, i.e., 2019-2027. The high growth rate during this period can be attributed to the increasing demand for road safety features in automobiles on the back of growing usage of privately owned vehicles for various purposes. The market is segmented on the basis of vehicle type into passenger cars, light commercial vehicles, heavy commercial vehicles and others, out of which, passenger cars segment is estimated to propel the market growth on account of growing requirement for personal vehicles and rising awareness among people about prevention of road accidents across the world.
The market in North America is estimated to hold largest market share on the back of increasing demand for active safety systems for automobiles. The growing requirement for such systems can be attributed to rules and regulations imposed by the government regarding road safety. Additionally, the market in Europe and Asia-Pacific region is anticipated to expand with notable growth rate during the forecast period on the back of rising disposable income of individuals and adoption of stringent rules and regulations by governmental bodies in these regions.
Stricter Safety Standards To Boost Market Growth
Increasing incidences of road accidents and formation of strict regulations regarding their prevention and safety of passengers are anticipated to drive the growth of automotive active safety system market. Moreover, the rising number of vehicles purchased per year with increased safety features are supporting the market growth.
However, the requirement of high initial investments which are not affordable by small and medium enterprises is estimated to hinder the growth of automotive active safety system market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global automotive active safety system market which includes company profiling of Delphi Technologies, Bosch, Continental AG, ZF Friedrichshafen, Autoliv, Hyundai Mobis, Valeo, DENSO, Magna International, FLIR Systems and Infineon Technologies. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global automotive active safety system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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