Strict Regulations to Ensure Automotive Safety Technologies Market Growth

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The Automotive Safety Technologies  Market has been undergoing consistent growth since the last few decades. The automotive community on a global scale is more aware of driver safety and customer satisfaction. This awareness is the result of constant research and development in the enhancement of automotive technology. Automotive researchers focused more on  balancing the large power output that these modern automobiles were capable of providing. The first thing noticed by the common automotive consumer was that  irrespective of the the amount of purchase for a so-called luxury automobile, the probability of an accident and physical damage to the driver wasn’t necessarily reduced. This made the customer question the very intent of the automotive industry, which in turn made the automakers come up with path-breaking innovation in safety measures.

Automotive Safety Technologies  market is expected to grow with the CAGR of approximately 9% from 2017 to 2023. On the basis of active technology, the most widely used are Anti-lock Braking Systems (ABS), Electronic Brake Force Distribution (EBD), Electronic Stability Control (ESC), Tire Pressure Monitoring Systems (TPMS), and Blind Spot Detection (BSD). The costlier yet effective active technologies are Adaptive Cruise Control (ACC), Adaptive Front-Lighting Systems (AFS), and Night Vision Systems (NVS). These technologies provide a wider scope for fulfilling the safety concerns of the customers. On the basis of passive technology, the airbag system and whiplash system are the most economical in terms of installation cost. However, the pedestrian safety system though involves a lot of electronics in terms of sensors, camera and related equipments provides more accurate and widened safety benefits. On the basis of offering, the hardware safety system is more economical to install and easy to manufacture, although the software safety system is more accurate in providing all round protection. On the basis of fuel used, all the varieties can use the safety system in future in respective automobile. Still, the electric vehicles, due to the low complexity of the vehicle design and production, makes it easier to assimilate the safety system as the integration of the engine functionality and the safety system can be undertaken seamlessly.
           
Passenger vehicles are expected to dominate the Global Automotive Safety Technologies  Market by vehicle type segment during the forecast period

On the basis of vehicle type, passenger vehicles are expected to drive the growth of the Automotive Safety Technologies  market. Owing to the high taxes obtained from the automotive industry, the private-public partnership of the automotive industry and governments has been very streamlined and fruitful for both the involved parties. Firstly, the rise in global sales of automobiles has caused large traffic congestions. This makes the management of vehicular traffic extremely difficult. Secondly, increased traffic automatically increases safety concerns related to on-road mishaps. Thus, the passenger cars would benefit the most from the installation of the Automotive Safety Technologies .

Some of the key players in the Automotive Safety Technologies  market are Delphi Automotive PLC (Aptiv PLC) (U.S.), Continental AG (Germany), Denso Corporation (Japan), Magna International Inc. (Canada), Robert Bosch GmbH (Germany), TRW Automotive (U.S.), Autoliv Inc. (U.S.), Johnson Electric Holdings Limited (Hong Kong), Takata Corporation (Japan) and Mobileye N.V. (Israel).


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