- Active safety system segment to hold the largest share of the automotive safety system market, by technology.
- Hybrid Electric Vehicle (HEV) to acquire the largest market share in electric vehicle type.
- Developed countries such as the US, Germany, and UK are estimated to have a significant market share of automotive safety systems.
The Global Automotive Safety System Market is estimated to be $82.80 billion in 2017 and is projected to reach $169.46 billion by 2025, growing at a CAGR of 9.36% during the forecast period.
The automotive safety system market has promising growth potential due to several factors, including the increasing demand for a safe, efficient, and convenient driving experience; rising disposable income in emerging economies; and stringent safety regulations across the globe. Owing to the high adoption rate of active and passive safety technologies, developed countries such as the US, Germany, and UK are estimated to have a significant market share of automotive safety systems.
Furthermore, Europe and North America have some of the most stringent safety regulations. For instance, in November 2014, General Safety Regulation No 661/2009 of the European Parliament and Council mandated driver seatbelt reminders and tire pressure monitoring systems in all new cars sold in Europe. Also, from 1st November 2015, all new trucks and buses were required to be equipped with advanced emergency braking systems along with lane departure warning systems.
The software segment is estimated to be the fastest-growing segment of the automotive safety system market, by offering. The main purpose of the software is to communicate autonomously with other devices. The software content has been increasing day by day in the advanced applications of the vehicle. Increasing demand for human-machine interface in the vehicle helps to drive the software segment of the automotive safety system market.
Major players profiled in the report are:
Tier I suppliers:
- Robert Bosch (Germany)
- Continental (Germany)
- Denso (Japan)
- Delphi (UK)
- Infineon (Germany)
- ZF Friedrichshafen (Germany)
The passenger cars segment is projected to be the fastest-growing on-highway vehicle type of the automotive safety system market. The increasing production of passenger cars due to improvement in lifestyle and disposable income of the consumers will increase the demand for safety systems. Various safety systems for passenger cars have been mandated by the government in several countries. This will positively impact the automotive safety system market for a passenger cars.
The Asia Pacific region is estimated to hold the largest share, by value, of the automotive safety system the market in 2017. The demand for automotive safety system in this region is triggered by increasing vehicle production in developing nations such as China and India and the increasing number of luxury vehicles in countries such as China and Japan. This region is also the leading producer of automobiles in the world.