Selbyville, Delaware, Sept. 30, 2024 (GLOBE NEWSWIRE) --
The automotive active safety systems market valuation is predicted to surpass USD 444.3 billion by 2032, reported in a research analysis by Global Market Insights Inc.
Government regulations and safety standards are driving this growth. As governments impose stricter safety mandates, automakers are integrating advanced safety features into their vehicles.
The European Union's General Safety Regulation, for instance, mandates that all new vehicles include features like advanced emergency braking and lane-keeping systems starting in 2022. This regulation has spurred automakers to invest in technologies such as anti-lock braking systems and electronic stability control to meet these standards and enhance vehicle safety ratings, driving automotive active safety systems market demand.
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A notable trend in the sector is the integration of Artificial Intelligence (AI) and Machine Learning (ML) technologies. These advancements enhance active safety systems, allowing real-time data processing and precise hazard predictions. AI-driven systems analyze data from sensors and cameras to foresee and avert collisions. These systems continuously evolve, refining their capabilities with diverse driving scenarios. This trend not only improves the efficacy of active safety systems but also lays the groundwork for advanced autonomous driving features, fueling market innovation and expansion.
The overall market is classified based on vehicle, component, sales channel, technology, and region.
The automotive active safety systems market from the passenger car segment commanded a market share of approximately 83%. This leadership is due to robust consumer demand for safety features in personal vehicles. With tightening safety regulations and growing consumer emphasis on vehicle safety ratings, automakers are embedding advanced active safety systems—like emergency braking and lane-assist features—into passenger cars. The segment's dominance is further bolstered by the global sales volume of passenger cars. Additionally, as safety technologies advance and market competition intensifies, the adoption of these systems in passenger vehicles accelerates.
In 2023, the OEM segment led the automotive active safety systems market with a share of around 85%. Original Equipment Manufacturers (OEMs) are pivotal in embedding active safety systems into new vehicles, establishing themselves as the primary suppliers of these components. Their advantage lies in early access to state-of-the-art safety technologies, ensuring new models align with stringent safety regulations from inception.
By producing safety systems en masse, OEMs benefit from economies of scale, reducing the cost per unit. Their partnerships with safety technology suppliers facilitate the integration of cutting-edge innovations—like advanced collision warnings and electronic stability control—into their vehicles. With rising safety standards and heightened consumer expectations, OEMs face increasing pressure to offer comprehensive safety features, solidifying their market leadership.
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Asia Pacific region emerged as the dominant player in the global automotive active safety systems market, holding a significant share of around 31% in 2023. This dominance is due to the region's booming vehicle production and growing emphasis on safety awareness. Countries like China, Japan, and South Korea are pivotal, driving the region's heightened production volumes and, consequently, the demand for active safety systems in light of stringent regulatory mandates.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates & calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definition
Chapter 2 Executive Summary
2.1 Automotive Active Safety Systems Market 3600 synopsis, 2021 - 2032
Chapter 3 Market Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Cost breakdown analysis
3.5 Technology & innovation landscape
3.6 Patent analysis
3.7 Key news & initiatives
3.8 Regulatory landscape
3.9 Impact forces
3.9.1 Growth drivers
3.9.1.1 Increasing demand for vehicle safety features
3.9.1.2 Stringent government regulations on vehicle safety
3.9.1.3 Rising adoption of advanced driver assistance systems (ADAS)
3.9.1.4 Technological advancements in sensor and software technologies
3.9.2 Industry pitfalls & challenges
3.9.2.1 High cost of advanced safety systems
3.9.2.2 Complexity of integration and potential reliability issues
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
