Automotive Active Safety Sensors Market Size to Grow at a CAGR of 22.8% till 2023

The global automotive active safety sensors market size is likely to witness an excellent double-digit growth over the next five years to reach US$ 18,554.5 million in 2023, according to a newly added report by Stratview Research. Increasing usage of active systems in passenger cars to reduce the number of accidents, implementation of stringent regulations regarding passenger safety, a growing trend towards advancing the vehicles by making it autonomous, and market entry of technology-driven companies like Apple and Google are some of the major factors that are proliferating the growth of the active safety sensors in the automotive industry. Organic growth of the automotive industry further substantiates the demand for active safety sensors in the automotive industry.

The report offers detailed insights in relevant market segments, their growth rates, latest market trends, forecasts, and other important details. The market has been segmented in four ways and the report has more than 150 figures and tables providing the most comprehensive information about the market segments and their growth prospects for the forecast period of 2018-2023.

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As per the report, among different sensor types,
Radar is expected to remain the dominant sensor type in the market during the forecast period. The sensor type is also likely to grow at an impressive rate in the same period. Radar sensors have longer and higher resolution properties that allow them to easily distinguish between multiple objects in real time. They are also not very much affected by environmental conditions, such as lighting, weather, and particles. These factors are some of the key whys and wherefores for higher growth of radar sensors as compared to other sensors. Another factor evoking interest towards the usage of radar sensors is its large-scale adoption in ADAS (Advanced Driver Assistance Systems) technologies.

The market is segmented based on the vehicle type as passenger car, LCV, and M&HCV. Passenger car is expected to remain the growth engine of the market during the forecast period. High production of cars coupled with an increased adoption of active safety systems is driving the segment. Passenger car has been undergoing the most disruptive advancements with the targeting areas are electric vehicles, autonomous vehicles, and enhancements in fuel efficiency. Active systems are going to play a mammoth role in achieving such areas.

Based on the application type, the market is segmented as braking system, adaptive cruise control, blind spot detection, lane departure warning, and others. Braking system is expected to remain the most dominant segment of the market during the forecast period and is also likely to grow at an impressive rate during the same period.

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Europe is expected to remain the largest automotive active safety sensors market during the forecast period, owing to the high adoption of active safety systems to address the stringent regulations of safety standard of Euro NCAP (New Car Assessment Programme) and increasing the share of autonomous and semi-autonomous vehicles in the region.

Asia-Pacific is likely to experience the highest growth during the same period. Japan and China are the growth engines of the Asia-Pacific’s market for active safety sensors. Currently, both countries collectively account for more than 65% share of the Asia-Pacific’s market and are likely to grow at an impressive rate during the forecast period.

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The report further mentions about the key players Continental AG, Veoneer, Robert Bosch GmbH, Valeo Group, and Aptiv PLC. who are emerging fast and their roles in the growing market. It also portraits the important mergers, acquisitions, and other current happenings in the Automotive Active Safety Sensors Market that can be helpful for the interested clients in analysing the market and taking right decisions accordingly.

Salient Features of the Report
The report on Automotive Active Safety Sensors Market is a well-researched work after analysing of various data from different reliable sources. The report included some of the salient features such as:
• Market structure,
• Market environment analysis,
• Market trend and forecast analysis,
• Market segment trend and forecast,
• Competitive landscape and dynamics,
• Attractive market segments and associated growth opportunities,
• Emerging trends,
• Strategic growth opportunities for the existing and new players,
• Key success factors

About Stratview Research:
Stratview Research is a global research company offering custom research and marker research reports for interested client in different sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Healthcare & Life Sciences, and Oil & Gas. All the reports generated are based on proper data collected from reliable sources and are scrutinized carefully before releasing so that the interested clients and companies can make the most out of it.

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About Stratview Research
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