With the emergence and long-term Impact of COVID-19, Global Automotive Active Safety Systems Market to reach USD 26.87 Billion by 2029
Bizwit Research & Consulting LLP’s recent analysis on the Global Automotive Active Safety Systems Market points towards a potential rise to USD 26.87 Billion by 2029. Active safety systems play a preventive role in reducing crashes and accidents by providing advance warning or assisting the driver in steering/controlling the vehicle. Sensors such as radar, cameras, and ultrasonic sensors, in a vehicle active safety system can perceive its surroundings and operational parameters. Processors then interpret this data and take corrective action or alert the occupants. The Automotive Active Safety Systems market is expanding because of factors such as increasing number of vehicle accidents and rising demand for safety features in vehicles.
Geographically, the global Automotive Active Safety Systems market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in terms of revenue, owing to the presence of key market players and rising demand of luxury vehicles that are equipped with multiple active safety systems in the region. According to the Statista, in 2021, motor vehicle parts stores and automobile dealers increased revenue by around 23% over the previous year: U.S. motor vehicle and parts dealers generated revenue of almost USD 1.53 trillion from retail trade. In terms of sales, Europe is expected to grow fastest with a highest CAGR during the forecast period, owing to factors such as rising government initiatives regarding automobile safety regulations in the region.
The global Automotive Active Safety Systems market is highly competitive owing to the presence of several key manufacturers such as Autoliv Inc, Continental AG, Denso Corporation, Ficosa Internacional, SA FLIR Systems, Inc, HELLA GmbH & Co. KGaA, HYUNDAI MOBIS, Knorr-Bremse AG, Robert Bosch GmbH, Velodyne Lidar, Inc and others.
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Key findings of the study suggest:
- Global Automotive Active Safety Systems Market is anticipated to grow with a healthy growth rate of more than 11.2% over the forecast period 2022-2029.
- In the Type segment, Autonomous Emergency Braking (AEB) Systems emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to increasing number of passenger cars in the region.
- Europe is expected to grow at higher rate during 2022-2029 owing to increase in the number of luxury vehicles.
Bizwit Research & Consulting has considered following segments for the study:
by Components
- Sensors
- Radar
- GPS
- Others
by Vehicle Type
- Passenger Vehicle
- Utility Vehicle
- Commercial Vehicle
by Type
- Anti-lock braking systems (ABS)
- Autonomous Emergency Braking (AEB) Systems
- Electronic Stability Control (ESC)Lane Departure Warning (LDW) Systems
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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