Automotive Safety System Market Highlights
Market Research Future (MRFR) shed light on governing factors of the automotive safety system market 2020, in its current report. An in-depth assessment of the automotive safety system market rise under the COVID 19 pandemic is supplemented with the report. According to MRFR analysis, the automotive safety system market is likely to thrive at 9% CAGR through the analysis period 2017 to 2023. The rise in road fatalities cases and increase in report of road accidents are creating huge requirement to automobiles with robust safety equipment. This is expected to spur the expansion of the automotive safety system market across the analysis period. The penetration of digital solutions can support the expansion of the automobile safety system market. In addition, the availability of proper and effective aftermarket solutions can surge the expansion of the automotive safety system market in the years to come. The presence of different OEMs and suppliers of automotive safety solutions can drive the automotive safety system global market, reveals MRFR study.
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Automotive Safety System Market by Segmentation
The segment assessment of the automotive safety system market is done by active technology, passive technology, offering, and fuel used.
The active technology based segments of the automotive safety system market are Lane Departure Warning Systems (LDW), Tire Pressure Monitoring Systems (TPMS), Blind Spot Detection (BSD), Central Electronic Processing Unit (CEPU), Driver Monitoring System (DMS), Anti-Lock Braking Systems (ABS), and Adaptive Cruise Control (ACC).
The passive technology based segments of the automotive safety system market are pedestrian, whiplash protection, and airbag. The airbag system has gained high popularity, which is expected to promote the automotive safety system market in the years to come.
The fuel based, the automotive safety system market segments are petrol, HEV, diesel, and EV. The increase in the purchase of HEV is expected to contribute largely to the rise of the automotive safety system market.
The offering based segments of the automotive safety system market are software and hardware. The rise in hardware safety system installations can improve the momentum of the automotive safety system market.
Popular trends and dynamics of the automotive safety system market size is studied across APAC, North America, EU, and the Rest of the World. The Asia Pacific region observes unprecedented sales of cars. India and other growing economies of APAC has economic labor and powerful automobile production base that are observed to contribute largely to the automobile safety system market across the analysis period. The consistent rise of the automotive industry can impel the expansion of the automotive safety market across the analysis period. The presence of potential Automakers in the region can support the expansion of the automotive safety market across the review period. North America automotive safety system market is expected to thrive in the years to come. The presence of the highest automotive dealers in the region, along with a large number of migration possessing high per capita income can impel the automotive safety system market in the coming years. In Europe, the automotive safety system market expansion can be credited to the increase in need for futuristic cars and the early adoption of latest automotive technologies by top notch players.
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Takata Corporation (Japan), Continental AG (Germany), Magna International Inc. (Canada), Denso Corporation (Japan), Delphi Automotive PLC (Aptiv PLC) (U.S.), Robert Bosch GmbH (Germany), Johnson Electric Holdings Limited (Hong Kong), TRW Automotive (U.S.), Autoliv Inc. (U.S.), and Mobileye N.V. (Israel) are some notable names in the automotive safety system market as listed by MRFR.
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