Worldwide Latest Market Research Report on “Global Automotive Safety Systems Market – Segmented by Type, Offering, End-user Sector, Vehicle Type, and Geography – Growth, Trends, and Forecast (2018 – 2023) 2019-2023”
The Global Automotive Safety Systems market with CAGR of ~6% 2019-2023. The report begins from overview of Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Automotive Safety Systems by product, region, and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- Robert Bosch GmbH
- Denso Corporation
- Delphi Automotive
- ZF Friedrichshafen
- Continental AG
- Hyundai Mobis
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Overview of Automotive Safety Systems Market:
Safety systems have become an integral and one of the most in-demand features of a vehicle among the consumers. Due to the rise in accidents across the globe, regulatory bodies have mandate the use of various safety features, like ABS, airbags, certain ADAS features, etc., which has forced the automakers to install such features in a vehicle.
A recent study by World Health Organization says that, over 1.25 million people die each year as a result of road traffic crashes. This created a necessity for the newly adopted 2030 Agenda for Sustainable Development and it has set an ambitious target of halving the global number of deaths and injuries from road traffic crashes by 2020. The global automotive safety market is expected to grow at a CAGR of ~ 6% during the forecast period due to the rise in demand for various safety features, like ADAS, airbags, etc.
Active Safety Is Expected To Grow the Fastest During the Forecast Period
The increase in demand for vehicles, especially passenger cars has flooded the market with various types of vehicles, increasing the risk of accident every minute. Advanced drive assistance features, like lane departure warning, adaptive cruise control, blind spot detection etc. are observed to reduce the risk of accident by warning or helping the driver before an accident occurs. This advancement has created a huge demand for such features for the consumers as vehicles with such features at reasonable costs are increasing in terms of sales at a faster rate. The increase in demand for electric vehicles and the nearing autonomous vehicles era is expected to propel the market for active safety features in the automotive industry at the highest CAGR during the forecast period.
Asia-Pacific Is Expected To Dominate the Market
Asia Pacific occupies the highest share in terms of vehicle sales with more than 50% and is expected to grow even more during the forecast period. The rising consumer income levels, increased vehicle production in developing countries, such as India and China and increase in the number of luxury vehicles in countries, such as Japan fuel the growth of the automotive safety system market in the Asia-Pacific region. India has also mandated the installation of ABS in all vehicles including two wheelers, which is further anticipated to drive the market ahead during the forecast period.
The market is segmented into active and passive safety systems based on type; hardware and software based on offering; OEM and aftermarket based on end-user sector; and vehicle type (passenger cars and commercial vehicles). The regional analysis covers major countries in North America, Europe, Asia-Pacific, and Rest of the World.
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Reasons to Purchase this Report:
The Global demand for Automotive Safety Systems Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2019 and 2025 compared to a few years ago, signifying the rapid pace of change.
Global Automotive Safety Systems Market highlights the following key factors:
- A complete informative analysis of Automotive Safety Systems industry, which includes a valuation of the parental market.
- Emerging trends by sections and regional markets.
- Major developments in market dynamics & market overview.
- Automotive Safety Systems Market shares and methods of key players in the Automotive Safety Systems market.
- Current and predictable size of Automotive Safety Systems market from the outlook of both value and volume.
- Reporting and estimation of recent industry developments.
- References to companies for establishment their position in the Automotive Safety Systems market.
Automotive Safety Systems Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Automotive Safety Systems Market players in detail. Automotive Safety Systems Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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Key Features of the Automotive Safety Systems Market Report:
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- Five-year forecast measure would give a clear understanding of future growth.
- Investigation of upcoming and past market information will help in organizing an outline of current business strategies.
- Comprehensive information of market players will help understand consumer demands and market scope.
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- A comprehensive analysis of the changing competitive dynamics will keep you ahead of the competitors.
- The fresh proficient elements such as industry production study, revise product-launching events, growth and risk factors will help in the forecast feasibility analysis.
- To distinguish the slightest focused market specialties with huge development potential.
The growth of this market worldwide is subjected to various factors; including consumer world-class Automotive Safety Systems Market of many Automotive Safety Systems Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Automotive Safety Systems Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Automotive Safety Systems Market competitors.
Mr. Ajay More
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