Automotive Safety Electronics Market - Industry Analysis, Market Size , Trends & Forecast 2023 | Arizton

Global Automotive Safety Electronics Market Analysis 2023

Global Automotive Safety Electronics Market Analysis 2023

The global automotive safety electronics market is anticipated to reach values of $40 billion by 2023, growing at CAGR of more than 12% during 2017-2023.

Premium systems and sensors in luxury cars to boost demand in the global automotive safety electronics”
— Abby, Sr Analyst

CHICAGO, IL, UNITED STATES, July 24, 2018 /EINPresswire.com/ -- Arizton's market research report on the global automotive safety electronics market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product (systems and sensors), by vehicle type (economy cars, luxury cars, and mid-priced cars), and by geography (APAC, Europe, North America, Latin America, and MEA).

Automotive Safety Electronics Market - Overview

The increasing proliferation of automotive electronics that enable centralized control and seamless exchange of data and information between various systems is augmenting the growth of the global automotive safety electronics market. The launch of systems that are designed to enhance user experience and convenience will revolutionize the automotive industry in the global market. The growing demand for connected cars with the growing integration of smartphones and electronic devices will transform the global market. The adoption of advanced features such as telematics, ADAS solutions, digital clusters, and high-end infotainment systems is boosting the demand in the global market. Some of the prominent vendors are developing a new cost-efficient 3D surround view system designed for economy and mid-priced vehicles to attract a wider group of consumers and gain a larger global market share. The innovations in the field of safety systems, infotainment, electrification of engine mechanism, and propulsion technologies will create new investment opportunities for OEMs operating in the global market. The growing applications for semiconductors across hybrid and electric vehicle segments will have a positive impact on the overall development of the global automotive safety electronics market.

Factors such as rapid electrification of vehicles, adoption of connected vehicle concept, and integration of advanced safety features are expected to boost the demand for these systems in mass mid-segment vehicles in the market. The vendors are introducing new safety electronics systems and solutions to boost their revenues in the global market.

The global automotive safety electronics market is anticipated to reach values of approximately $40 billion by 2023, growing at CAGR of more than 12% during 2017-2023.

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The top 3 drivers and trends propelling the development of the global automotive safety electronics market are discussed below:

Increased Focus on Introducing Safety Solutions

The growing focus on the development and launch of innovative safety solutions is driving the demand in the global automotive safety electronics market. The increasing investments in advanced technologies such as the advanced driver assistance systems (ADAS) will help companies reach a wide set of audiences in the global market. The OEMs are actively investing in the efficient manufacturing process and exploring means to reduce the cost of these technologies to make it available for the mass mid-segment vehicles. With such initiates, vendors will generate higher revenues and gain a larger global automotive safety electronics market share. The implementation of automotive safety regulations by government bodies will propel the demand for ADAS systems during the forecast period. Regions such as Russia, the US, Japan, the EU, and South Koreas are the forerunners of manufacturing and developing effective solutions in the global automotive safety electronics market. Furthermore, the implementation of TPMS, AEBS, and LDWS in various vehicles across segments will help in the development of the market.

Rising Consumer Segment for Affordable Luxury

The rising demand for luxury cars in developing countries and emerging markets are fueling the growth of the global automotive safety electronics market. Some of the leading automakers are launching the entry-level models in emerging markets due to the availability of the plethora of financing options in these regions. Sentimental buying tendencies amongst end-users in these developing countries are the USP for various manufacturers operating in the global market. China has seen tremendous growth in the automobile sales in the past year. In India, the affluent class is increasingly buying luxury cars because of the availability of entry models in the full-fledged lineup and vehicle finance options. Such demands will create new avenues for leading vendors in the global automotive safety electronics market. The manufacturers of luxury cars are equipping their automobiles with comprehensive active and electronic safety features to attract more consumers in the global market. The implementation of ABS and warning systems are gaining immense popularity in the Chinese and Indian markets. The establishment of safety regulations across various emerging countries will boost demand in the global automotive safety electronics market over the next few years.

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Increasing Use of Advanced Sensors in Automobiles

The rising number of handicapping and fatal injuries and deaths on the roads is encouraging the implementation of advanced safety solutions thereby, augmenting the evolution of the global automotive safety electronics market. The development of enhanced safety features will encourage consumers to implement these solutions in their vehicles in the global market. Some of the most common safety features available in the global market are seatbelts, airbags, stronger chassis, and electronic and sensor-guided features like rearview displays, blind spot displays, braking systems, traction control and obstacle identifiers. The development of intelligent and automated sensors is expected to transform the global automotive safety electronics market during the forecast period.

The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.

Demand for electric vehicles in Europe to drive sales in the global automotive safety electronics during the forecast period

The global automotive safety electronics market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. Europe dominated the majority of the market share in 2017, growing at a CAGR more than 12% during the forecast period. The high investment in R&D and the implementation of stringent regulations are driving the growth of the European region in the global market. The growing demand for electric vehicles in countries such as Germany, UK, and France will boost revenues in Europe over the next few years. The stringent norms imposed by the European Commission and car assessment programs such as Europe New Car Assessment Program (Euro NCAP), mandating the installation of driver assistance and collision avoidance systems will transform the global automotive safety electronics market. Advancement in technology and growing demand for German-made luxury cars will help in propelling the growth of the European region in the global market during the forecast period.

Key Countries Profiled

The key countries profiled in the report are:

Germany
China
Japan
South Korea
US
Brazil

Key Vendor Analysis

The global automotive safety electronics market is moderately fragmented, with the top players controlling over 40% of the total market share. The increasing focus on technological development and expansion of product portfolios will intensify the competition in the global market. The increasing threat of infiltration with low-quality products will result in intensified price wars among companies in the global market. The OEMs are competing on the basis of quality, technology, and price in the market. The vendors are expanding their businesses and distribution networks to emerging countries in APAC to sustain the intense competition in the global automotive safety electronics market.

The major vendors in the global market are:

Autoliv
Bosch
Continental AG
Denso
ZF

Other prominent vendors include ADVICS, Aisin Seiki, Aptiv (Delphi Automotive), Gentex, HARMAN, Hella, Hitachi, Hyundai Mobis, Infineon Technologies, Magna International, Mando (Halla Group), Mobileye (Intel), Nidec Elesys, NVIDIA Corporation, NXP Semiconductor, Omnivision, Panasonic, QNX, Renesas Electronics, Texas Instrument, TKJP (Takata), Tokai Rika, Toshiba, Valeo, Velodyne LiDAR, and WABCO.

Key market insights include

The analysis of global automotive safety electronics market provides market size and growth rate for the forecast period 2018-2023.
It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global automotive safety electronics market.
The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
It offers a complete overview of market segments and the regional outlook of the global automotive safety electronics market.
The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

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Jessica Shirley
Arizton Advisory and Inteligence
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