What Do Historical and Forecast Market Sizes Indicate About The Automotive Safety Systems Market?
The automotive safety systems market size has been growing robustly in recent years. It is expected to expand from $124.7 billion in 2024 to $134.68 billion in 2025, displaying a compound annual growth rate (CAGR) of 8.0%. This growth in the historic period can be attributed to factors such as stringent crashworthiness standards, implementation of traffic laws and regulations, and public awareness campaigns about the importance of safety.
Projected to gain even further momentum, the automotive safety systems market size is expected to reach a staggering $193.73 billion in 2029, with a CAGR of 9.5%. The surge in adoption of advanced driver assistance systems (ADAS), integration of vehicle-to-everything (v2x) communication for real-time safety alerts, and increased focus on sustainable and eco-friendly transportation are key drivers foreseen for this growth.
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How Are Electric Vehicles Impacting The Automotive Safety Systems Market?
The burgeoning demand for electric vehicles is set to significantly stimulate the growth of the automotive safety systems market. Safety features such as adaptive cruise control, blind spot warning, auto braking, and lane assist are becoming essential components in electric vehicles. For instance, the International Energy Agency revealed that the sales of electric vehicles escalated from 10 million in 2022 to an estimated 14 million in 2023. This growing demand for electric vehicles is expected to generate a pivotal demand for automotive safety systems, thereby driving market growth during this period.
Which Are The Key Segments Within The Automotive Safety Systems Market?
The automotive safety systems market report encompasses the following segments:
1) By Type: Active Safety System, Passive Safety System
2) By Vehicle Type: Passenger Cars, Commercial Vehicles
3) By End User: OEM, Aftermarket
Learn more about these segments and their potential effects in the Global Automotive Safety Systems Report:
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What Are The Major Companies Driving The Automotive Safety Systems Market?
Key players in the automotive safety systems market include Autoliv Inc., Continental AG, Nippon Denso Co. Ltd., ZF Friedrichshafen AG, Valeo SA, Mobileye Global Inc., Robert Bosch GmbH, Infineon Technologies AG, Knorr-Bremse AG, Nihon Plast Co. Ltd., Toyoda Gosei Co. Ltd., Delphi Automotive plc, Magna International Inc., and others who are shaping the future of automotive safety.
What Trends Are Emerging In The Automotive Safety Systems Market?
The advent of innovative technologies represents a major trend in the automotive safety systems market. Manufacturers are increasingly focusing on integrating smarter and safer systems into vehicles for enhanced safety across various conditions. An example of this is Volvo Vehicles’ introduction of Active Grip Control, a unique safety feature for electric trucks which significantly improves acceleration, stability, and braking in slippery situations.
What Does The Regional Analysis Reveal About The Automotive Safety Systems Market?
North America is projected to be the largest region for the automotive safety systems market in 2024, with Asia-Pacific anticipated as the fastest-growing region during the forecast period.
What Does The Automotive Safety Systems Market Report 2025 Offer?
The Automotive Safety Systems Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Automotive safety systems, both active like collision avoidance and lane keeping, as well as passive elements such as airbags and seatbelts, all work in conjunction to protect occupants and prevent accidents.
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