Automotive Active Safety Systems Global Market Predicted to Augment and Reach over $70.81 Billion at a CAGR of 9.6% By 2028

"The Business Research Company recently released a comprehensive report on the Global Automotive Active Safety Systems Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The automotive active safety systems market size has grown rapidly in recent years. It will grow from $44.23 billion in 2023 to $49.13 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to increasing traffic accidents, regulatory mandates, consumer demand for safety, insurance industry influence, integration with advanced driver assistance systems (adas).

The automotive active safety systems market size is expected to see strong growth in the next few years. It will grow to $70.81 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to autonomous vehicle development, vehicle-to-everything (v2x) communication, machine learning and ai integration, cybersecurity concerns, smart infrastructure integration. Major trends in the forecast period include collaboration between automakers and technology providers, rising awareness of pedestrian and cyclist safety, advancements in sensor technologies, sensor fusion technology, driver monitoring systems (dms).

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Market Drivers and Trends:

The increasing demand for electric vehicles is expected to propel the growth of the automotive active safety systems market going forward. Electric vehicles refer to vehicles that are powered by electricity stored in rechargeable batteries or other energy storage devices. Due to the quiet operation of electric vehicles, which may make them less noticeable to pedestrians and other road users, the implementation of active safety systems, including pedestrian detection and collision avoidance, becomes crucial to provide warnings or interventions and prevent potential accidents. They aim to improve traction, stability, and maneuverability by actively controlling the vehicle's acceleration, braking, and steering, thereby reducing the risk of accidents and improving overall safety during EV operation. For instance, in March 2023, according to a report published by the International Energy Agency, a France-based intergovernmental organization, electric car markets were seeing exponential growth as sales exceeded 10 million in 2022. The share of electric cars in total sales has more than tripled in three years, from around 4% in 2020 to 14% in 2022, and is expected to see 14 million in sales by the end of 2023, experiencing a 35% year-on-year surge. Therefore, the increasing demand for electric vehicles is driving the growth of the automotive active safety systems market.

Major companies operating in the automotive active safety systems market are focused on developing advanced technological solutions, such as driver monitoring systems (DMS), to meet larger customer bases, increase sales, and increase revenue. A driver monitoring system (DMS) is a technology designed to track and analyze the behavior and condition of a vehicle's driver. For instance, in March 2021, Smart Eye AB, a Sweden-based artificial intelligence company, launched the AIS for the automotive aftermarket. The AIS stands out as a high-quality and cost-effective automotive-grade driver monitoring system, tailored for commercial vehicle fleets and the automotive aftermarket. Specifically designed to address challenges faced by drivers during long-distance journeys and night shifts, the AIS employs gaze tracking technology to ensure drivers maintain focus on the road, consequently reducing the occurrence of road accidents. With a commitment to enhancing safety for drivers, passengers, pedestrians, and other road users, the AIS incorporates advanced features, including the ability to recognize faces, even when partly covered by masks or sunglasses. By closely monitoring the driver's eye, face, and head movements, the system detects potential distractions such as eating, drinking, smoking, or phone use while also issuing alerts at the first signs of drowsiness.

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Major Key Players of the Market:

Major companies operating in the automotive active safety systems market report are Robert Bosch GmbH, ZF Friedrichshafen, Continental AG, Hyundai Mobis, Magna International, DENSO Corporation, Valeo SA, Aptiv PLC, Borg Warner Inc., TRW automotive, Infineon Technologies, Autoliv Inc., Knorr-Bremse, Toyoda Gosei Co. Ltd., Hella GmbH & Co. KGaA, Bendix Commercial Vehicle Systems LLC, Visteon Corporation, Ficosa International S.A., Mobileye, HERE Technologies, Delphi Technologies, FLIR Systems, PSA Peugeot Citroen (parent Stellantis N.V.), Takata Corporation, Freescale Semiconductor Inc

Automotive Active Safety Systems Market 2024 Key Insights:

• The automotive active safety systems market is expected to grow to $70.81 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
• Rising Demand For Electric Vehicles Fuels Growth In The Automotive Active Safety Systems Market
• Innovative Advancements In Driver Monitoring Systems (DMS) For Enhanced Automotive Safety
• North America was the largest region in the automotive active safety systems market in 2023

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