The Automotive Active Safety Systems Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive Active Safety Systems Global Market Report 2024, 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).
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.
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The automotive active safety systems market covered in this report is segmented –
1) By Product Type: Anti-Lock Braking System, Driver Monitoring, Blind Spot Detection, Night Vision System, Adaptive Cruise Control, Tire-Pressure Monitoring System, Lane Departure Warning, Other Products
2) By Sensor Type: Camera Sensor, Radar Sensor, Lidar Sensor
3) By Application: Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle, SUVs
Top Major Players:
Robert Bosch GmbH
ZF Friedrichshafen
Continental AG
Hyundai Mobis
Magna International
North America was the largest region in the automotive active safety systems market in 2023.
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.
The automotive active safety systems market report table of contents includes:
1. Executive Summary
2. Automotive Active Safety Systems Market Characteristics
3. Automotive Active Safety Systems Market Trends And Strategies
4. Automotive Active Safety Systems Market – Macro Economic Scenario
5. Global Automotive Active Safety Systems Market Size and Growth
…..
32. Global Automotive Active Safety Systems Market Competitive Benchmarking
33. Global Automotive Active Safety Systems Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Active Safety Systems Market
35.Automotive Active Safety Systems Market Future Outlook and Potential Analysis
36. Appendix
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