Automotive Safety Systems Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031

The automotive safety systems market is expected to register a CAGR of 8.6% during 2023–2031. The evolution of advanced technologies and the introduction of high-end vehicles will likely remain a key trend in the market.

Automotive Safety Systems Market Analysis

• An increasing government rules and regulations attributed to vehicle safety, an increase in the number of accidents, a rise in the demand for luxury vehicles, an increase in consumer purchasing power, and an increase in the demand for passenger vehicles in emerging economies are some of the market factors that are anticipated to support the market's growth.
• To reduce road accidents and enhance the safety of both drivers and passengers in both vehicles, new features are constantly being incorporated into automobiles as a result of ongoing technological advancements in the automotive market.

Automotive Safety Systems Market Overview

• The growing passenger safety and security awareness, an increase in the number of vehicles in developing nations, and other factors are major drivers of the global automotive safety system market's growth.
• The number of accidents has increased due to the growing demand for high-speed vehicles. The need for safety feature integration in cars has grown dramatically.
• Blind spot detection, lane maintenance assist, and an antiroll braking system are a few of the safety features. Additionally, due to government safety regulations becoming more stringent, many automotive manufacturers are installing a passive safety system in vehicles.
• The demand for automobiles rises concurrently with integrated safety features, which fuels the growth of the global automotive safety system market.

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Automotive Safety Systems Market: Strategic Insights

Automotive Safety Systems Market

• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Technology

• Active Safety Systems
• Passive Safety Systems

Offerings

• Hardware
• Software

Vehicle Type

• Light Commercial Vehicles
• Passenger Car
• Medium and Heavy Duty Commercial Vehicle

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Automotive Safety Systems Market Drivers and Opportunities

Government Regulations Mandates and International Safety Standards to Favor the Market

• Governments and international organizations impose strict regulatory mandates and global safety standards that significantly drive the global automotive safety system market.
• These regulations require automakers to incorporate cutting-edge safety technologies into their vehicles to comply with safety standards that have been set.
• Global safety standards are always changing, which is one of the main factors encouraging innovation and the automotive industry's adoption of new safety technologies.

Pedestrian Detection Features

• Advancements in technology have played a major role in the high demand for active safety systems. These systems are now more dependable and efficient due to the quick development and integration of advanced sensor technologies, machine learning, and artificial intelligence.
• The demand for automotive safety systems is expected to be supported by consumer preferences for automotive active safety features that are dependable and functional. Safety features such as adaptive cruise control, collision avoidance, and pedestrian detection are becoming more and more appealing to manufacturers and customers due to their increased accuracy and performance.
• Furthermore, the price of these technologies has become more affordable which has increased their accessibility for a wider variety of vehicles.

Automotive Safety Systems Market Report Segmentation Analysis

Key segments that contributed to the derivation of the automotive safety systems market analysis are technology, offerings, and vehicle type.

• Based on the technology, the automotive safety systems market is divided into active safety systems and passive safety systems.
• based on the offerings, the market is divided into hardware and software.
• Based on vehicle type, the automotive safety systems market is divided into light commercial vehicles, passenger cars, and medium and heavy-duty commercial vehicles.

Automotive Safety Systems Market Share Analysis by Geography

• The automotive safety systems market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering automotive safety systems market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the automotive safety systems market in these regions.

Automotive Safety Systems Market Market Report Scope

Automotive Safety Systems Market News and Recent Developments

The automotive safety systems market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive safety systems market are listed below:

• Volvo Buses is launching new and updated active safety systems that help drivers drive safely and avoid situations that could result in accidents. The active safety systems include several features with a special focus on the protection of vulnerable road users such as cyclists and pedestrians. The safety systems exceed the new EU regulations, as well as the legal requirements of most non-EU countries. (Source: Volvo, Company Website, April 2024)
• The automotive technology company Veoneer announced that it has agreed with Magna International Inc., a mobility technology company and one of the largest suppliers in the auto industry. Under the agreement, Magna will acquire Veoneer's Active Safety business from SSW Partners, a New York-based investment partnership ("SSW") for $1.525 billion in cash, subject to working capital and other customary purchase price adjustments. (Source: Veoneer, Company Website, December 2022)

Automotive Safety Systems Market Report Coverage and Deliverables

The “Automotive Safety Systems Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Automotive safety systems market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Automotive safety systems market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Automotive safety systems market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the automotive safety systems market
• Detailed company profiles