Automotive Active Safety System Market Analysis, Segments, Growth and Value Chain 2015-2025
Global automotive active safety system market is segmented on the basis of vehicle type as passenger vehicles and commercial vehicles. Automotive active safety market for passenger vehicles is further segmented into premium cars, luxury cars and mid-range cars. In Premium and luxury cars active safety system are more popular while in mid-range cars penetration of active safety system is comparatively less. Automotive active safety system market is comparatively low in case of commercial vehicles. With up gradation in technology and reduction in production cost,mid-range cars owners are increasingly using active safety system in automotive.
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Global automotive active safety system market on the basis of product type is segmented as tyre-pressure monitoring system, lane departure warning, adaptive cruise control, night vision system, driver monitoring,anti-lock braking system and blind spot detection. The trend for the installation of blind spot detection and adaptive cruise control during the forecast period is estimated to grow significantly in premium vehicles due to increasing awareness about the system application and safety features. In past few years automotive active safety system market witnessed significant growth due to growing awareness among customers and automakers towards road safety.
Global automotive active safety system market is estimated to grow twofold with a double digit CAGR, as global automotive production is estimated to grow significantly during the forecast period. The global automotive active safety system market is segmented in seven key regions which are North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Middle East and Africa and Japan. North America automotive active safety systemmarket leads the global market in terms of value followed by Europe and Asia-Pacific. Increasing sales of premium cars, government’s regulations to minimize road accidents and healthy economic conditions are key drivers for global automotive active safety system market. With growing economy and increasing disposable income in emerging economies such as China and India,Asia Pacific region is expected to be potential growth region in automotive active safety system market. North America held the largest market share in global automotive active safety system market in 2013 and is expected to dominate during the forecast period.
Some of the examples of market participants in the global automotive active safety market include Autoliv Inc., Robert Bosch GmbH, Continental AG, and Delphi Automotive LLP, TRW automotive, Denso Corporation, PSA Peugeot Citroen, Borg Warner Inc. and Ficosa International S.A. Getting into alliances and partnerships with major OEMs are key strategies followed by leading players in the global automotive active safety system market.
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Some of the trends in automotive active safety systemmarket is shifting R&D efforts of OEMs from passive system to active system. For instance, Nissan has announced their plan to launch driverless cars by year 2020, and Volvo is also expected to release their autonomous cars on road by 2017.
Looking ahead in future, OEMs will have to develop new innovative products and features to sustain competition in automotive safety system market. Demographic trends such as preference of customers towards updated technology with increase in automotive sales globally are some of the key driving forces for automotive active safety system market.
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