Northbrook, IL -- (SBWIRE) -- 08/14/2019 -- "Automotive Safety System Market by Technology (Active (ABS, ESC, BSD, LDWS, TPMS) and Passive (Airbag, Pedestrian and Whiplash Protection)), On-highway (PC, LCV, Buses, Trucks), Off-highway, EV, Offering (Hardware, Software) - Global Forecast to 2025", The automotive safety system market is estimated to be USD 76.50 Billion in 2016 and is projected to reach 169.46 Billion by 2025, at a CAGR of 9.36% during the forecast period.
Active safety system segment to hold the largest share of the automotive safety system market, by technology
The increasing government regulations pertaining to active safety systems and growing demand for the autonomous vehicle will contribute to the growth of the automotive safety system market for active safety system segment. Vehicles are being equipped with advanced active safety features such as blind-spot detection (BSD), lane departure warning systems (LDWS), and automatic emergency braking (AEB). Auto manufacturers have started to roll out vehicles with semi-autonomous vehicle technology, which is the intermediate step toward autonomous driving.
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Hybrid Electric Vehicle (HEV) to acquire the largest market share in electric vehicle type
HEV is estimated to hold the largest share of the automotive safety system market, by electric vehicle. Stringent emission norms, environment safety, vehicle electrification, and government regulations are expected to boost the market for HEV safety systems. Governments around the globe are enabling the sale of electric vehicles by offering incentives to customers and subsidies to electric vehicle OEMs. This will help drive the automotive safety systems market for electric vehicles.
Asia Pacific: The largest market for the automotive safety system market
The Asia Pacific region is estimated to hold the largest share, by value, of the automotive safety system market in 2017. The demand for automotive safety system in this region is triggered by increasing vehicle production in developing nations such as China and India and the increasing number of luxury vehicles in countries such as China and Japan. This region is also the leading producer of automobiles in the world.
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- Automobile manufacturers
- Distributors and suppliers of automotive safety systems
- Industry associations and automotive experts
- Automotive safety feature manufacturers
- Automotive component manufacturers
- Autonomous vehicle software providers
- Electric vehicle manufacturers
- Automotive technology providers
- Tier 1, Tier 2, and Tier 3 suppliers