Automotive Safety System Market Growth Analysis Report (2023-2028)

Market Insights

"The global automotive safety system market size was estimated at USD 95.48 billion in 2022 and is likely to grow at a CAGR of 9.17% during 2023-2028 to reach USD 162.63 billion in 2028."

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Market Dynamics

Driven by increasing safety system contents per vehicle, the introduction of more stringent safety regulations, high demand for safety solutions, and an organic growth in the automobile production.

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Segments Analysis

Vehicle Trends

"The passenger car segment accounted for the largest market share."

The market is segmented based on vehicle type as passenger car, light commercial vehicle, and medium & heavy duty commercial vehicle. The passenger car is expected to remain the largest segment of safety systems in the global automotive industry during the forecast period of 2023 to 2028. This vehicle type is also projected to witness the fastest growth in the same period, owing to increasing penetration of safety systems, high demand for active safety systems, and an organic growth in the production of luxury cars and SUVs.

Product Trends

"The passive safety systems segment accounted for the largest market share."

The market is secondly segmented based on product type as active safety systems and passive safety systems. The active safety systems market is further segmented as active cruise control, blind spot detection, drowsiness monitoring system, lane departure warning system, head-up display, night vision system, park assist, e-call telematics, tire-pressure-monitoring system, and others. Similarly, the passive safety systems market is also bifurcated into the airbag, seatbelt, steering wheel, electronic control unit, and others. Currently, passive safety system occupies the largest share in the global automotive safety systems market which is likely to be surpassed by active safety systems by 2028. An excellent growth in active safety systems market is primarily driven by increasing demand for advanced safety systems, such as tire-pressure-monitoring system and adaptive cruise control system in both developed and developing countries because of mandated government regulation and high focus on safety solutions.

End-User Trends

"The OEM segment accounted for the largest market share."

The market is thirdly segmented based on end-user type as OEM and aftermarket. OEM’s market is likely to remain the largest end-user type during the forecast period and is expected to witness a higher growth rate in the same period, driven by increasing penetration in the newly-build vehicles across regions. All major automakers have started using active safety systems into some of their vehicles. They all have been in touch with suppliers to develop low cost advanced active safety systems for their mass volume models.

Regional Insights

"North America accounted for the largest market share."

The market is finally segmented based on region as North America, Europe, Asia-Pacific, and Rest of the World. North America is projected to remain the largest active safety systems market during the forecast period whereas Asia-Pacific the largest passive safety systems market in the same period. The US remains to act as the growth engine of the North American active safety systems market whereas China and India the Asia-Pacific’s passive safety systems market. Increasing production of automobiles, increasing passive safety system contents per vehicle, mainly in China and India, and the introduction of more stringent regulations are driving the demand for passive safety systems in the Asia-Pacific region. Similarly, increasing penetration of active safety systems in the North America and Europe to address stringent government regulations regarding passenger safety is likely to drive the active safety systems market in the same period.

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Key Players

Long-term contracts and advancement in technologies are the key strategies adopted by major players to gain a competitive edge in the market throughout the globe.

some of the major players in the automotive active safety system market are- 

• Continental AG
• Delphi Automotive Plc
• Denso Corporation
• Robert Bosch GMBH
• Magna International Inc.
• Valeo
• ZF TRW Automotive

Some of the major players in the automotive passive safety system market are-

• Autoliv AB
• Delphi Automotive
• ZF TRW Automotive Holdings Corp.
• Takata Corporation

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s automotive safety system market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report, from Stratview Research, studies the safety systems market in the global automotive industry over the period 2023 to 2028. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities in the market.

What Deliverables Will You Get in this Report?

The market is segmented in the following ways:

By Vehicle Type:

• Passenger Car
• Light Commercial Vehicle
• Medium & Heavy Duty Commercial Vehicle

 By Product Type:

• Active Safety System
  • System Type Analysis (Adaptive Cruise Control (ACC), Blind Spot Detection (BSD), Drowsiness Monitoring System (DMS), Lane Departure Warning System (LDWS), Head-Up Display (HUD), Night Vision System (NVS), Park Assist, E-Call Telematics, Tire-Pressure-Monitoring System (TPMS) and Others)
• Passive Safety System
  • System Type Analysis (Airbag, Seatbelt, Steering Wheel, Electrical Control Unit, and Others)

By End-User Type:

• OEM
• Aftermarket

By Region:

• North America (Country Analysis: USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, UK, Russia, and Rest of the Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the world (Country Analysis: Brazil, Argentina, and Others)

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Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3)
• SWOT analysis of key players (up to 3)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.