The report of Automotive Safety Vehicle Technology Market by Technology (Automatic Emergency Braking, Pedestrian Detection, Lane Departure Warning, Double Coupling, Thomson Coupling, Forward Collision Warning), End User (Commercial/Residential, LiDAR, Commercial/Residential, Camera Unit), Sales Channel (Commercial Vehicles, Passenger Vehicles), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ xx Mn. by 2027, at a CAGR of 4.8 % during a forecast period.
Advanced safety vehicle technology is used in vehicle to enhance vehicle safety and minimize chances of a collision. Advanced safety technology is utilizing combine functionality of mechanical and electronic components. This system incorporates IoT platform to control and to regulate vehicle safely. The Road Accident Prevention International Organization accounted that the 90% of the road accidents are caused by human errors, which can be reduced by using Automotive Safety Vehicle Technology in vehicles.
Lane Keep Assist (LKAS) & Blind Spot Detection (BSD) segment is forecasted to expand at xx% CAGR
The Blind Spot detection system gives audio and visual signal or warning to the driver when the adjacent lane vehicle is approaching and driver has blind spot. The Blind Spot detection system helps driver and minimizes the risk of collision of vehicles. Vehicle manufacturers prefer to incorporate this function in their vehicle. Lane Keep Assistance technology helps driver in keeping lane, this technology detects the marking on the road and informs the driver when changing lane, which minimizes the risk of collision. These safety features are rising Global Automotive Safety Vehicle Technology Market.
Global Automotive Safety Vehicle Technology Market: Drivers and Restraints
Advance safety vehicle technology is expected to grow with increasing production of vehicle and rising demand of passenger vehicle will drive demand of vehicle safety devices.
The Automotive Safety Vehicle Technology helps in reducing chances of collision and provide safer environment for driving of vehicle. Awareness among customers for new safety devices is increasing incorporation of these devices in vehicles.
The Volvo has vision to create Zero fatalities and General Motors says in their vision “Zero Crash, Zero Emission, Zero Congestion” which shows their long term vision. Drive focus of customer towards safety and creating safety as priority while buying vehicle.
Government is creating more stringent vehicle norms for on road safety globally, this mandates manufacturers to install safety system in vehicle, also competition among automakers to develop safest car is anticipated to drive Global Automotive Safety Vehicle Technology Market.
The Automotive Safety Vehicle Technology is expensive and this system has many autonomous functions that eventually comes with malfunction of this system may lead to severe accident is the key restraint of global automotive safety vehicle technology market.
Global Automotive Safety Vehicle Technology Market: Regional Overview
The Global Automotive Safety Vehicle Technology Market is segmented by various regions such as North America, Europe, Middle East & Africa, South America, and Asia Pacific. The North America and Europe have dominance over the Global Automotive Safety Vehicle Technology Market. The safety equipment market is increasing and also showing significant growth during recent years. Development activities are going in the sector of electronic system in atomization in industries majorly driving market growth of Automotive Safety Vehicle Technology.
Asia Pacific region is largest growing Automotive Safety Vehicle Technology market, owing to the growth of the on road traffic. National Highway Traffic Safety Administration, US collected crash data which indicated that about 88% of rear collisions caused due to drivers negligence, or while following a vehicle closely. WHO in their global road safety report 2017 stated that the increment in 1% of speed increases the risk of fatality about 4% and Crash about 3%, and 27% of fatalities .
Key players operating in the Automotive Safety Vehicle Technology Market are Aptiv, Continental AG, Robert Bosch GmbH, Harman International Industries, NVIDA Corporation, Mobileye N.V., Renesas Elecronics, Texas Instruments, TOYODA GOSEI Co. Ltd, ZF Friedrichshafen AG, Magna International, Delphi Automotive PLC (Aptiv PLC), Denso Corporation, Automotive, Autoliv Inc., Johnson Electric Holdings Limited, Takata Corporation, Mobileye N.V..
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Automotive Safety Vehicle Technology Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Automotive Safety Vehicle Technology Market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Automotive Safety Vehicle Technology Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Automotive Safety Vehicle Technology Market.”
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