Automotive Active Safety System Market size is set to grow by USD 2.19 billion from 2024-2028, Increase in safety concerns boost the market, Technavio

NEW YORK, July 4, 2024 /PRNewswire/ — The global automotive active safety system market size is estimated to grow by USD 2.19 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 3.31% during the forecast period. Increase in safety concerns is driving market growth, with a trend towards growing development of ai-enabled adas solutions. However, slowdown in automobile manufacturing poses a challenge. Key market players include Aptiv Plc, Autoliv Inc., Continental AG, DENSO Corp., Faurecia SE, Infineon Technologies AG, Joyson Safety Systems Aschaffenburg GmbH, Knorr Bremse AG, Lear Corp., Magna International Inc., Mobileye Technologies Ltd., Ningbo Jifeng Auto Parts Co. Ltd., Robert Bosch GmbH, Samsung Electronics Co. Ltd., TomTom NV, Toyoda Gosei Co. Ltd., Valeo SA, Veoneer Inc., Visteon Corp., and ZF Friedrichshafen AG.

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Market Driver

Automobile companies are prioritizing customer needs and delivering customized solutions in a fully connected automotive environment. Artificial Intelligence (AI) technology is increasingly being adopted in Advanced Driver-Assistance Systems (ADAS) due to the rising demand for functions that mimic human brain capabilities. AI-based ADAS continuously learns from experiences and enhances its ability to detect and recognize surroundings. These systems consume less power and reduce ADAS development time. Prominent ADAS manufacturers are developing AI-based solutions to improve vehicle safety and autonomy. The surge in demand for safer and more autonomous vehicles is driving the growth of AI-enabled ADAS solutions. Automakers are investing heavily in autonomous vehicles, which rely on advanced AI-enabled ADAS to navigate roads and prevent accidents. Sensor technology and computing power advancements enable real-time data processing, leading to the development of advanced features like adaptive cruise control, lane keep assist, and automatic emergency braking. For instance, Continental AG launched new ADAS solutions based on Ambarella’s CV3 AI system-on-chip (SoC) family in November 2022. Such developments are expected to fuel the growth of the global automotive active safety system market during the forecast period. The integration of AI into ADAS systems is revolutionizing how vehicles perceive and respond to their environment, making the market a significant trend. The increasing demand for advanced safety features, technology advancements, and government regulations are expected to drive market growth. 

The Automotive Active Safety System market is witnessing significant growth due to increasing demand for advanced vehicle safety features. Key trends include Blind Spot Detection, Lane Keep Assist, and Anti-roll braking systems. Investment pockets lie in technological improvements such as Lidar, radar, cameras, ultrasonic sensors, machine learning, and AI. Market drivers include shifting customer tastes towards safer vehicles, urbanization, and traffic congestion. Key restraints include high production costs and regulatory challenges. Mitsubishi Motors Corporation, Seatbelts, and Headrests are traditional safety features still in demand. Market opportunities include autonomous and connected vehicles, telematics, and environmental concerns. Buyers seek reliable suppliers to meet increasing demand. Competitive intensity is high, with key players investing in R&D for technological advancements. Market share is fragmented, with major players including Mitsubishi Motors Corporation. Demand for vehicle safety systems is driven by traffic, long distance travel, and high-speed vehicles. Young customers prioritize safety features when purchasing vehicles. Key suppliers include Bosch, Continental AG, and Delphi Technologies. Technological improvements and shifting customer tastes are expected to continue driving market growth. 

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Market Challenges

The automotive industry is currently experiencing a manufacturing slowdown due to the semiconductor chip shortage and supply chain disruptions caused by the COVID-19 pandemic. This situation may significantly impact the global automotive active safety system market, as the availability of critical components, such as semiconductor chips, is uncertain. Production delays and reduced output could affect the deployment of active safety systems in new vehicles. Additionally, changing consumer preferences and the shift toward electric and hybrid vehicles, which have different safety requirements, may impact the demand for certain types of active safety systems during the forecast period.The Automotive Active Safety System market is witnessing significant growth due to increasing demand for advanced vehicle safety features. Key drivers include blind spot detection, lane keep assist, and anti-roll braking systems. Challenges include the high cost of technologies like lidar, radar, cameras, ultrasonic sensors, machine learning, and AI. Market trends include the shift towards driverless and connected cars, urbanization, and long-distance travel. Mitsubishi Motors Corporation and other suppliers are investing in technological improvements to meet buyer needs. Market restraints include regulatory challenges and shifting customer tastes towards environmental concerns. Opportunities lie in the production of autonomous vehicles, connected vehicles, telematics, and seatbelts. Competitive intensity is high, with key players focusing on innovation and cost reduction. Buyers seek reliable and affordable safety systems for their automobiles, especially during traffic, urban driving, and high-speed vehicles. Accidents and collisions remain a major concern, making active safety systems a must-have for automakers.

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Segment Overview 

This automotive active safety system market report extensively covers market segmentation by

Safety And Signaling System 1.1 Anti-lock braking system1.2 Lane departure warning system1.3 Electronic stability control1.4 Adaptive cruise control1.5 Automatic emergency braking and othersVehicle Type2.1 Passenger cars2.2 Commercial vehiclesGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Anti-lock braking system- 

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Research Analysis

The Automotive Active Safety System market is witnessing significant growth due to the increasing demand for vehicle safety systems in the automobiles industry. Seatbelts and headrests are essential active safety features that have been a part of automobiles for decades. However, with advancements in technology, collision avoidance systems, airbags, and other active safety features are becoming increasingly popular. The market is driven by factors such as traffic congestion, production of high-speed vehicles, urbanization, and the shift towards driverless and connected cars. Technological improvements, shifting customer tastes, and environmental concerns are also contributing to the market’s growth. The demand for active safety systems is particularly high for long-distance travel and road trips. Lidar technology is a key enabler for advanced safety features such as adaptive cruise control and automatic emergency braking. The market is expected to continue growing as the focus on vehicle safety increases.

Market Research Overview

The Automotive Active Safety System market is witnessing significant growth due to the increasing demand for vehicle safety systems in the automobiles industry. Seatbelts and headrests are essential active safety features that have been a standard in vehicles for decades. However, the market is now focused on advanced systems like collision avoidance, blind spot detection, lane keep assist, and anti-roll braking systems. Traffic congestion, urbanization, and the rise of driverless and connected cars are key drivers for the market. The production of high-speed vehicles, long distance travel, and young customers’ preferences are also contributing to the demand. Market trends include technological improvements, shifting customer tastes, and the integration of autonomous vehicles, connected vehicles, telematics, and environmental concerns. Key drivers for the market include the increasing number of accidents, government regulations, and the growing awareness of vehicle safety. Restraints include the high cost of advanced safety systems and the lack of standardization. Opportunities include the increasing market share of active safety systems, investment pockets in emerging economies, and the integration of machine learning and artificial intelligence (AI) in safety systems. Buyers include automobile manufacturers, suppliers, and aftermarket players. Competitive intensity is high, with players like Mitsubishi Motors Corporation investing in sensor technology, such as lidar, radar, cameras, and ultrasonic sensors, to gain a competitive edge. The market is expected to grow at a CAGR of over 10% during the forecast period.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Safety And Signaling SystemAnti-lock Braking SystemLane Departure Warning SystemElectronic Stability ControlAdaptive Cruise ControlAutomatic Emergency Braking And OthersVehicle TypePassenger CarsCommercial VehiclesGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio