Automotive safety systems refer to the gear that is embedded within the vehicle to minimize the occurrence and consequences of traffic collisions. Automotive safety systems are one of the most important parts in the automobile manufacturing industry.
"Global Automotive Safety Systems Market Analysis to 2028"
is a specialized and in-depth study of the Automotive Safety Systems market with a special focus on the global market trend analysis. The report aims to provide an overview of Automotive Safety Systems market with detailed market segmentation technology, vehicle type, offerings, and geography. The global Automotive Safety Systems market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Automotive Safety Systems market players and offers key trends and opportunities in the Automotive Safety Systems market.
- On the basis of technology, the market is segmented as Active Safety Systems and Passive Safety Systems
- On the basis of Vehicle Type, the market is segmented into Light Commercial Vehicles, Passenger Car, and Medium & Heavy Duty Commercial Vehicle.
- On the basis of offerings, the market is segmented into hardware and software.
- Government regulations related to safety in vehicles
- Continuous evolution in the safety systems and increased demand for safety systems
- Complex and expensive features
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Automotive Safety Systems market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Automotive Safety Systems market in these regions.
IMPACT OF COVID-19 ON AUTOMOTIVE SAFETY SYSTEMS MARKET
COVID-19 severely impacted the automobile industry by the end of 2020 as there were several travel bans and other lockdown related restrictions imposed across the globe. The impact of the pandemic extends to all segments of the aviation and aerospace industry, including Automotive Safety Systems manufacturers. As a result of travel restrictions and economic slowdown due to the pandemic and the consequent fall in demand, automotive manufacturers have been focusing on reducing costs and expenses, which includes cutting back on production spending. Due to long duration of halts in the supply chain of major automotive production, the Automotive Safety Systems suppliers have been facing a reduction in demand. However, as the lockdown measures start getting lifted, the demand for passenger cars with improved safety features is expected to rise. Since Automotive Safety Systems are one of the vital components of safety features in luxury passenger cars and heavy duty commercial vehicles, the market of Automotive Safety Systems is expected to regain momentum.
The reports cover key developments in the Automotive Safety Systems market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Automotive Safety Systems market are anticipated to lucrative growth opportunities in the future with the rising demand for Automotive Safety Systems market. Below mentioned is the list of few companies engaged in the Automotive Safety Systems market.
The report also includes the profiles of key Automotive Safety Systems market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Autoliv Inc.
- Continental AG
- DENSO CORPORATION
- Joyson Safety Systems
- ZF Friedrichshafen AG
- Robert Bosch GmbH
- Infineon Technologies AG
- Knorr-Bremse AG
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.