Presently, North America is the largest market for automotive safety and security owing to stringent regulation regarding safety and security systems in automobiles. However, with growing vehicle thefts and demand for automobiles in countries such as India, China and others, Asia Pacific is expected to show strong growth in automotive safety and security market in near future.
New York, NY -- (SBWIRE) -- 04/16/2018 -- The automotive manufacturers are rapidly adopting different technologies used in automobiles for enhancing safety and security systems. Automobile manufacturers focus on implementing security systems to address the stringent regulations regarding safety and security of automobiles. The requirements for fulfilling regulations include improved data security, high bandwidth networks, enhanced functional safety and lesser fuel/energy consumption.
Automotive vehicles need to be protected against different threats such as real-time defects in vehicular communication to make it secure and safe for use. Automotive safety and security systems ranges from protection against vehicle theft to providing reliable and secure communication with other devices including navigation devices, mobile phones, music players and others. Automotive safety and security also includes protection against hackers of vehicular communication. A hacker can control almost everything from entertainment devices to vehicular control systems.
Demand for advanced automobile safety and security systems is not only from the customers, but also from the regulatory authorities pressuring for better and advanced safety and security features in the automobiles. Automobile manufacturers can introduce their vehicles to the market only after clearing the safety and security requirements specified by the regulatory body. This is expected to be the most significant factor driving the automotive safety and security market.
Growing vehicle thefts and misuse is another factor boosting the need for safety and security systems in automobiles. This is expected to generate strong demand for advanced built-in safety and security features for automobiles in near future. Additionally, insurance companies have stringent safety and security requirements for any automotive vehicle to be insured. This makes automotive safety and security systems a mandatory part of the automobiles. However, high costs for installation of safety and security systems in automotive vehicles may hamper the growth of automotive safety and security market.
The automotive safety and security market is segmented on the basis of type of safety and security systems and geographic regions. The safety systems installed in vehicles are classified based on active safety and passive safety. Active safety features include head-up displays, chassis assist, brake assist, anti-lock braking system (ABS), electronic stability control, traction control, collision warning and other safety features. The passive safety features comprise seat belts, air bags, laminated glass, fuel tank position and others.
The security systems used in automobiles is further categorized as alarms, remote key less entry, immobilizer, centralized locking system and others. The automotive safety and security market is segmented based on geographic regions into North America, Europe, Asia Pacific and Rest of the World (RoW). Presently, North America is the largest market for automotive safety and security owing to stringent regulation regarding safety and security systems in automobiles. However, with growing vehicle thefts and demand for automobiles in countries such as India, China and others, Asia Pacific is expected to show strong growth in automotive safety and security market in near future.
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Some of the leading players in the automotive safety and security market are Alps Electric Co., Ltd., Delphi Automotive Plc, Mitsubishi Electric Corporation, Robert Bosch GmbH, Valeo SA, Continental AG, Lear Corporation, TRW Automotive Holdings Corporation and others.