Global Automotive Safety Systems Market
Automotive safety systems consist of different technologies and devices which are specially used in the vehicles so that safety and security can be increased. There main function is to enhance safety and decrease the number of road accidents. Some of the common automotive safety systems are adaptive headlight, braking crash warning system, GPS, camera, on- board sensors and others. It protects passengers in cars when a crash occurs and acts as a defense during a sudden strike protect the driver and passenger from the interior components of the cars, thereby minimizing the likelihood of injury. They are further classified as active safety system and passive safety system. Active safety system act as a preventive function in alleviating crashes and accidents by giving advance warning or by offering extra car steering / control help to the driver and passive safety system function is to reduce damage or injury to the passenger and pedestrian in the case of the accident or crash.
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Some of the factors responsible for the growth of this market are:
- Rising demand for vehicles with advanced and autonomous features: Today there is the increase in the demand for vehicles with advanced and autonomous features. Different automotive manufacturers today equip their vehicles with advanced safety systems. The main motive of these features is to enhance the safety of the vehicle as well of the driver or passenger. Different safety systems such as forward collision warning, city automatic emergency brake, automatic emergency brake, lane departure warning, blind spot warning, lane centering assist and other. Using this system also reduces the chances of accidents and crashes by alerting the driver about it or sometimes taking the necessary action themselves
- Rising initiatives taken by the government to promote safety systems emission: Large number of people every day are losing their life due to road accidents and these accidents usually occur due to human error. So to decrease the number of accidents and crashes on the road and improve the road safety, government is also taking many necessary steps. They are coming up with strict rules and regulation so they can make sure the accident rates can be decreased. They make sure that heavy penalty should be paid by the person who breaks the road safety laws. Through this they will be able to ensure both passenger and pedestrian safety
The global automotive safety system market is segmented on the basis of technology which is divided into active safety systems, and passive safety systems; on-highway vehicle type is divided into PC, LCV, M&HCV, buses, and trucks; off-highway vehicle type is divided into agriculture vehicle, and construction vehicle; electric vehicle is divided into BEV, FCEV, HEV, PHEV; offering is divided into hardware, and software and end-user type as OEM and aftermarket.
Some of the launches and acquisition in the market are as follow:
- In May 2019, ZF announced that they are going to acquire 90% share of Simi Reality Motion Systems GmbH. With this acquisition the company wants to strengthen them in the safety system such as airbags, seat belts and steering wheels. This acquisition will help them to improve their portfolio and will also strengthen their position in the market
- In July 2019, VIA Technologies announced the launch of their new ultra-compact in-vehicle system VIA Mobile360 M820 which is specially designed to update current business vehicle with advanced driver assistance and safety system. They have the ability to support nine automotive grade cameras and powers an extensive and supportive software platform that supports Driver Monitoring, Dynamic Moving Object Detection, Advanced Driver Assistance, Surround View and Parking Assistance applications. The main aim of the launch is to provide customer with flexible solution to meet the rising demand of the customer.
“According to Data Bridge Market Research Market, global automotive safety system is expected to rise to an estimated value of 190.89 billion witnessing a substantial CAGR in the forecast period of 2019-2026”
Few of the major competitors currently working in the global automotive safety system market are Robert Bosch GmbH, DENSO CORPORATION., STMicroelectronics, Delphi Technologies, Infineon Technologies AG, ZF Friedrichshafen AG, Continental AG, Valeo, Magna International Inc., Autoliv Inc., Mobileye., HYUNDAI MOBIS., ANAND Group, Knorr-Bremse AG, HARMAN International, BMW AG, TOYODA GOSEI Co., Ltd., MANDO-HELLA Electronics Corp., Lear Corporation., Groupe PSA, BorgWarner Inc. and Ficosa Internacional SA amongst others.
Automotive safety systems are very beneficial for the drivers and passenger because firstly they will increase the road safety, will prevent injuries and decrease the chances of the crashes. Using technology will automatically decrease the chances of human errors which will ultimately result into less road accidents. These systems help the driver to get better visibility and help them to see the hazards around the vehicles. These are some of the factor which is creating new opportunity for this market to grow.
