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According to FMI, the Automotive Active Safety System market is estimated to be valued at US$ 12.78 Billion in 2022 and is projected to increase at a CAGR of 11.2% in the forecast period from 2022 to 2032.
Attributes | Details |
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Market Size (2021) | US$ 11.5 Billion |
Market Size 2022 | US$ 12.78 Billion |
Market Size 2032 | US$ 36.97 Billion |
Value CAGR (2022 to 2032) | 11.2% |
The global market for automotive active safety systems is expected to grow by an 11.2% CAGR in the next ten years. North America leads the market, followed by Europe and East Asia. Due to advancements in technology, the East Asia region is expected to witness high growth in the near future due to increasing domestic demand for automobiles. Growing concerns over safety and the increasing incorporation of safety systems in the passenger vehicle segment are driving growth in the market.
An active safety system is equipped with automobiles to detect and lower the danger of collisions and accidents. These technologies offer an early warning before an incident occurs so that it can be avoided and the severity and impact of the event can be reduced. Active safety features are computer-controlled and electronic parts that are integrated into the vehicle. They aid drivers by translating signals from various sensors that are installed on them, which improves vehicle control. A new forecast by FMI analysis estimates that automotive active safety system sales will increase from 2022 to 2032 and is anticipated to create a growth opportunity of US$ 24.19 Billion.
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The analysis of Automotive Active Safety System demand from 2017 to 2021 showed a historical growth rate of less than 7.2% CAGR, with the general expansion of automobile sales driving growth as consumers increased spending amid rising disposable incomes. Initial recessionary downturns brought on by the COVID-19 pandemic in the form of lower Automotive Active Safety System sales, store closures, and manufacturing cycle interruptions momentarily halted growth hopes.
However, since infection curves have flattened since 2022, industrial production activity in important markets has restarted. As a result, the Automotive Active Safety System demand projection predicts a CAGR of 11.2% by 2032.
The increasing demand for electric vehicles is expected to put pressure on the automotive safety systems market during the anticipated period. The market is driven by the need for safety features in electric vehicles, such as adaptive cruise control (ACC), blind spot warning, auto braking, lane assist, and others. Electric vehicle sales, for example, increased from 3 million in 2020 to 6.6 million in 2021. As a result, the market will be driven by the rising demand for electric vehicles and the increased need for automotive safety systems.
New technical advancements are a crucial trend that is gaining traction in the market for automotive safety systems. In order to improve safety in all environments and circumstances, the automobile industry is increasingly working on integrating smarter and safer safety systems into vehicles. For instance, in January 2022, the Swedish truck manufacturer Volvo Vehicles introduced Active Grip Control, It is a special safety feature for electric trucks. The new technology greatly enhances braking, stability, and acceleration in slick conditions. The new safety feature also lessens the possibility of jack-knifing and oversteering when traveling without any cargo.
Active safety systems rely on information from sensory equipment, and when these sensors malfunction, the car may operate incorrectly, which could result in an accident. These sensors are also exposed to hostile environments, which increases the need for replacements and raises the final cost to consumers. Additionally, the installation and operational cost of this safety system is comparatively high, and middle-class consumers cannot afford it. The market for vehicle active safety systems is hampered by these issues.
The rise in the use of driverless and connected vehicles and technological innovations may hamper the growth of the automotive active safety system market
North America's automotive active safety system market leads the global market in terms of value, followed by Europe and East Asia. According to Future Market Insights, the North American region accounts for around 34% of the global market. Increasing sales of premium cars, government regulations to minimize road accidents, and healthy economic conditions are key drivers for the global automotive active safety system market. The substantial presence of automakers and the affluent populations of North America and Europe have spurred the demand for premium automobiles with several active safety features. Additionally, the European New Car Assessment Program (Euro NCAP) has increased the inclusion rate of active safety systems in vehicles throughout the area by including emergency braking for pedestrians and cyclists in its assessment criteria.
Additionally, automotive active safety technologies are being adopted and invested in by automakers in these regions. For instance, 20 automakers in the USA, who together account for 99% of the country's light vehicle sales, agreed to make forward collision warning with automatic emergency braking standards by 2022. Similarly to this, the European Union's automobile industry devotes a significant portion of its annual US$ 65 billion Research and Development expenditure to making passenger cars and commercial vehicles safer. In North America and Europe, these elements are propelling the market for automobile active safety systems.
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Key players operating in the Automotive Active Safety System market include Robert Bosch GmbH, Continental AG, Delphi Technologies, ZF Friedrichshafen, and Denso.
Major Automotive Active Safety System market players are focusing on expanding their customer base through various strategies such as the expansion of their product portfolio through new product launches and innovations. Key players are also adopting advanced technologies to improve their safety features. Automotive Active Safety System manufacturers are also relying on tie-ups with major original equipment manufacturers and targeted mergers & collaborations to generate lucrative revenues.
Attribute | Details |
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Growth Rate | CAGR of 11.2% from 2022 to 2032 |
Base Year for Estimation | 2021 |
Historical Data | 2017 to 2021 |
Forecast Period | 2022 to 2032 |
Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032 |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered |
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Key Regions Covered |
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Key Companies Profiled |
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Customization & Pricing | Available upon Request |
In 2021, the value of the Automotive Active Safety System market reached over US$ 11.5 Billion.
During the forecast period, the Automotive Active Safety System market is estimated to expand at a CAGR of 11.2% from 2022 to 2032.
The Automotive Active Safety System market is projected to reach US$ 36.97 Billion by the end of 2032.
North America is projected to lead the Automotive Active Safety System market in the forecast period.
The key players operating in the Automotive Active Safety System market are Robert Bosch GmbH, Continental AG, Delphi Technologies and ZF Friedrichshafen.
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