Automotive Active Safety System Market overview
The
Automotive
Active Safety System Market is expected to grow with a CAGR of 10.65%
by 2030 and with a significant value. An active safety system is directed with
automobiles to prevent and identify the risk of collisions or accidents. It is
useful in providing an advanced warning before the accidents take place so that
they can avoid and lessen the chances and impact of the accident. Active safety
features consist of computer-controlled and electronic components present in
vehicles that help drivers by translating signals from various sensors installed
in the vehicles, resulting in a positive impact as drivers can control the
impact. Safety systems are useful in vehicles as they enhance drivers'
experience under different road situations and conditions. It also helps in
keeping the automobile in the right lane.
Moreover,
it shows sightless spots that the driver can not see in one direction, which
helps avoid further collisions. It performs functions such as observing the
vehicle's braking and maintaining adequate distance from other vehicles. During
the pandemic, the market didn't gain any market size due to the strong lockdown
procedure to lessen the virus spread, which led to market loss. In the upcoming
times, the market will gain the needed market value. The increasing demand for
installing safety equipment in vehicles and stringent government rules to
minimize road accidents are anticipated to boost the market growth. Moreover,
the rising number of road trips and long-distance traveling propels the Automotive Active Safety System Market.
The failure of the system and the high cost of the Product may hamper the
market in the forecast period.
Market segmentation
The
market is categorized into Product, occupant type, and vehicle type. Based on
Product, the market is segmented into Tyre-Pressure Monitoring System, Lane
Departure Warning, Adaptive Cruise Control, Night Vision System, Driver
Monitoring, Anti-Lock Braking System, And Blind Spot Detection. By the segment
of the Occupant Type, the Automotive
Active Safety System Market is bifurcated into Driver, Passenger, Child,
and Pedestrian. The sub-segments of the segment
Vehicle Type are Passenger cars and Commercial Vehicles. Passenger cars
dominate the market due to the growing concern of family members for their
families due to accidents; the installation of this system is more in passenger
cars.
Regional analysis
Based
on the region, the Automotive Active
Safety System Market is studied in Asia Pacific, Europe, North America, and
the rest of the world. The Asia Pacific is expected to hold the largest market
share due to the rise in use of the vehicles and high production of commercial
and passenger vehicles in economically emerging countries like India, China,
etc. The high production of vehicles will propel the production of safety
technologies, resulting in the market's growth. North America is also growing
and will also hold a large CAGR in the forecast period as the demand for the
new vehicles increases. That will help to enable the growth of the auto
component suppliers.
Industry news
In
a blow to Nvidia, Volkswagen’s software subsidiary Cariad will use Qualcomm’s
Snapdragon Ride Platform’s system-on-chips (SoCs) for a unified, scalable
software platform for its driverless cars.
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