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The automotive active safety system market size is forecast to increase by USD 2.19 billion at a CAGR of 3.31% between 2023 and 2028. Market expansion hinges on various factors, notably the mounting emphasis on safety, propelled by escalating safety concerns among consumers. The automotive industry is witnessing rapid advancements in protection systems, driven by technological innovations and regulatory mandates aimed at enhancing vehicle security standards. Particularly noteworthy is the integration of sensor technology, which has revolutionized features, enabling vehicles to detect and respond to potential hazards in real-time. These advancements have bolstered consumer confidence in vehicle, driving demand for automobiles equipped with cutting-edge safety features. As automotive manufacturers continue to prioritize innovation, the market is poised for sustained growth, with advancements in security technology expected to further augment vehicle safety and mitigate the risks associated with road accidents. It also includes an in-depth analysis of market trends and analysis, market growth analysis and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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The market is witnessing rapid growth fueled by rising concerns over vehicle safety. Key components like seatbelts, headrests, and advanced technologies such as Electronic Stability Control (ESC), Lane Departure Warning System (LDWS), and Tire Pressure Monitoring System (TPMS) play crucial roles in preventing collisions and enhancing passenger safety. With the emergence of autonomous vehicles and connected vehicles, the demand for technological improvements and Advanced Driver Assistance Systems (ADAS) has surged. The market also addresses environmental concerns while meeting the safety needs of both passenger and commercial vehicles through innovations like lidar and telematics. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increase in safety concerns is notably driving market growth. The average distance traveled by passengers is increasing as road transport is becoming one of the most important means of transport. Over the past decade, the automobiles industry has actively worked to improve road safety by preventing accidents and reducing injuries. Human error is the leading cause of accidents, so many safety measures focus on drivers. Many technical measures, especially active protection systems, effectively prevent accidents by warning drivers to take preventive measures before an accident occurs.
Also, lifestyle changes, long working hours, and long hours of driving can lead to sleep disturbances, increased driver fatigue, and stress while driving or cause drowsiness. In most cases, this can lead to accidents. Automotive security is, therefore, evolving and being adopted as a key feature by both customers and car manufacturers. There are many security systems on the market, such as BSD, Lane Departure Warning, Parking Assist, and DMS. In addition, increasing demand and continued innovation surrounding security systems are expected to drive down costs during the forecast period.
The development of eco-cruise control is the primary trend shaping the market. Eco Cruise Control or Economy Cruise Control is different from regular cruise control available in the market. Regular cruise control is primarily designed for highway use. On the other hand, Eco Cruise Control is designed for roads with a lot of uphill and downhill gradients that cause the vehicle to consume a lot of fuel during normal driving.
Furthermore, the electronic cruise control (ECC) intelligent system or control unit combines the complete road profile of the digital road map with a non-linear optimal predictive control (NOPC) algorithm. These algorithms control the speed of the vehicle and help achieve an economical speed that saves fuel. The International Energy Agency has found that the transport sector accounts for about 19% of all energy consumption. The use of this technology is anticipated to reduce fuel consumption, thereby positively influencing market growth.
The slowdown in automobile manufacturing is a major challenge hindering the market growth. The automotive industry is facing a manufacturing slowdown due to a variety of factors, such as continued shortages of semiconductor chips, supply chain disruptions, and the COVID-19 pandemic. The uncertainty surrounding the availability of critical components such as semiconductor chips affected the production of automobiles. Continued chip shortages could result in production delays and performance degradation, impacting the use of active safety systems in new vehicles.
Additionally, another challenge is the changing consumer preferences and demands for automobiles. This can have cascading effects on the adoption of active safeness systems. For example, the shift to electric and hybrid vehicles, which typically have fewer components and different security requirements, could impact market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aptiv Plc: The company offers automotive active safety systems such as the next-generation advanced driver assistance systems platform.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the anti-lock braking system segment will be significant during the forecast period. Anti-lock braking system (ABS) prevents the wheels of the vehicle from locking during hard braking. As a result, stability is maintained after hard braking and braking distances are shortened. The device thus increases the vehicle and driver protection index. Additionally, the development of ABS has reduced weight and size, making it easier to integrate with the vehicle's other security features.
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The anti-lock braking system segment was valued at USD 5.45 billion in 2018. ABS is widely used in passenger cars and commercial vehicles. It is an expensive unit. However, it offers the safety benefits required in the automotive sector. Also, the increasing implementation of electronic content in automobiles has contributed to the adoption of ABS as it is also an electronic device. Traditional mechanical parts, such as the fuel injection system, have been replaced with more efficient electronic fuel injection. Hence, these factors drive the growth of the segment during the forecast period.
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APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Awareness and demand for automotive safety are significantly high in developed regions such as Europe and the United States. However, the need for security features is different in APAC countries. China, which previously focused on efficient fuel economy, low maintenance, and affordable prices, is now focusing more on car safety. As these are the fastest-growing vehicle markets, the growing awareness of safety devices will prove beneficial to the market in the region in the long run.
Further, China, India, Japan, and South Korea are the dominant markets in APAC, with China leading the passenger car market, closely followed by India. Significant investments in infrastructure and industrialization have also fueled the growth of the passenger and commercial vehicle segments. India, China, Japan, and Indonesia are expected to account for the majority of new car purchases with increased electronic content during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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In the market, young customers are driving demand for advanced features like blind spot detection and lane keep assist, enhancing vehicle safety. These systems, including the anti-roll braking system, represent significant investment pockets for manufacturers. However, challenges such as restraints in technology adoption persist. There are ample opportunities identified through Porter's five forces analysis, considering factors like buyers, suppliers, and competitive intensity.
The market is experiencing significant growth due to increasing concerns regarding vehicle safety. With advancements like driverless & connected cars, there's a heightened focus on vehicle safety systems such as headrest and collision avoidance technologies. These systems cater to both passenger & vehicle safety solution, particularly in high traffic areas and during urbanization. They play a vital role in ensuring safety during road trips and long distance travel, especially with the rise of high-speed vehicles. Moreover, there's a growing emphasis on European automotive active safety systems to enhance driver and pedestrian safety, aligning with shifting customer tastes towards safer transportation options.
Further, the integration of vehicle to infrastructure (V2I) communication alongside advanced technologies like radar, cameras, and ultrasonic sensors enhances adaptive cruise control (ACC) systems, leveraging machine learning and artificial intelligence (AI) algorithms. Key players like Mitsubishi Motors Corporation continually innovate, ensuring the widespread adoption of antilock braking systems (ABS) for improved automotive protection and driving market growth.
Market Scope |
|
Report Coverage |
Details |
Page number |
193 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.31% |
Market growth 2024-2028 |
USD 2.19 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.17 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
China, US, Germany, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aptiv Plc, Autoliv Inc., Continental AG, DENSO Corp., Faurecia SE, Infineon Technologies AG, Joyson Safety Systems Aschaffenburg GmbH, Knorr Bremse AG, Lear Corp., Magna International Inc., Mobileye Technologies Ltd., Ningbo Jifeng Auto Parts Co. Ltd., Robert Bosch GmbH, Samsung Electronics Co. Ltd., TomTom NV, Toyoda Gosei Co. Ltd., Valeo SA, Veoneer Inc., Visteon Corp., and ZF Friedrichshafen AG |
Market dynamics |
Parent market analysis, Market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Safety and Signaling System
7 Market Segmentation by Vehicle Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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