The automotive Active Safety System Market was valued at USD 62.95 billion in 2021 and is anticipated to reach USD 179.42 billion by 2028, at a CAGR of 16.14%.
Automotive active safety technologies are designed to keep customers safe while also improving their experience. A variety of technologies are installed in the car to inform the driver of any problems with the vehicle. Automated lighting, adaptive cruise control, automated braking, traffic warnings, smartphone connectivity, and notifying the driver about blind spots and other threats are examples of automotive active safety systems. The presence of large players in the market for automotive active safety systems enhances the entrance hurdles for newcomers. To compensate for rules and regulations concerning doing business in specific countries, major active safety system manufacturers must form strategic agreements with local dealers and automobile manufacturers.
According to the researcher, one of the primary driving reasons for the Automotive Active Safety System market is the increased competition among firms in the market, which is increasing the market size.
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Market Dynamics and Factors:
Due to increased awareness of the system’s application and safety characteristics, the trend for installing blind spot detection and adaptive cruise control in premium vehicles is expected to develop significantly throughout the projection period. The market for vehicle active safety systems has grown significantly in recent years as customers and automakers have become more aware of the importance of road safety. Robert Bosch has a large global presence, with many manufacturing facilities and suppliers of a wide range of automotive parts and services. The company is dedicated to providing clients with technologically sophisticated, efficient, and environmentally friendly products. By focusing on electrification, connectivity, and automation, the company hopes to grab opportunities in emerging markets.
The need for Automotive Active Safety Systems has increased as the production of passenger and commercial cars have increased. During the projected period, the Automotive active safety systems market will increase due to the rising demand for active safety systems. The key driver for expansion is government initiatives that are mostly focused on strengthening driver safety standards. Many companies will develop parts that give great strength and advise the driver to utilize new technology as a result of increasing driver safety. The rising adoption of active safety systems in vehicles will arise from increased demand for safety technologies. During the forecast period, this will result in market growth.
Automotive Active Safety System Market Report Highlight:
- By Type, Anti-lock Braking System (ABS) is likely to dominate the Automotive Active Safety System Market. Rising mandates from the government regarding ABS to all new vehicles manufactured as vehicle safety concerns are growing.
- By Application, the Passenger Vehicles segment dominates the Automotive Active Safety System Market. As growing demand for passenger cars from the working class and elevated purchasing power pushing the demand for additional safety features in the cars boosting the Automotive Active Safety System Market.
- North America dominates the Automotive Active Safety System Market. The selling of luxury vehicles equipped with several active safety systems has been fueled by the presence of automakers and economically powerful populations in Europe and North America.
- The Asia-Pacific is expected to witness substantial growth during the forecasted period. The expansion of this market in the Asia Pacific area is fueled by rising consumer income levels, increased vehicle manufacturing in developing nations such as India and China, and an increase in the number of luxury automobiles in countries such as Japan.
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Major Key Players for Automotive Active Safety System Market:
- ZF Friedrichshafen
- Bendix CVS
- FLIR Systems
- Hyundai Mobis
- Infineon Technologies
- Toyoda Gosei
- Freescale Semiconductor
Key Industry Development:
January 2022, VinFast announced that it will collaborate with ZF to create a range of advanced driver assistance systems (ADAS). VinFast, one of the world’s fastest-growing car manufacturers, will use ZF’s experience in hardware, software, and system integration to introduce platforms with greater automated features.
Automotive Active Safety System Market Segmentation:
- Anti-lock Braking System (ABS)
- Lane Departure Warning System (LDWS)
- Driver Monitoring System (DMS)
- Adaptive Cruise Control (ACC)
- Tire Pressure Monitoring System (TPMS)
- Electronic Stability Control (ESC)
- Passenger Vehicles
- Commercial Vehicles
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For this report, Introspective Market Research has segmented the Automotive Active Safety System Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- 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
Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Automotive Active Safety System Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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