Skip to main content

Car safety market worth US$152.59 billion by 2020

The Markets and Markets report Car Safety Market by System Type (Active Safety & Passive Safety), Safety Regulations by Region (APAC, Europe, North America & Rest of the World), Impact Analysis (Overall Market OEM, Tier I & Consumer) - Trends & Forecast to 2020 estimates the market to be US$93.73 billion in 2015 and projects that it will grow at a CAGR of 10.24 per cent to reach US$152.59 billion by 2020. The market report defines and segments the automotive safety systems market with an impact analysis
January 20, 2016 Read time: 3 mins
The Markets and Markets report Car Safety Market by System Type (Active Safety & Passive Safety), Safety Regulations by Region (APAC, Europe, North America & Rest of the World), Impact Analysis (Overall Market OEM, Tier I & Consumer) - Trends & Forecast to 2020 estimates the market to be US$93.73 billion in 2015 and projects that it will grow at a CAGR of 10.24 per cent to reach US$152.59 billion by 2020.

The market report defines and segments the automotive safety systems market with an impact analysis and forecast of the global market size and by value.

The automotive safety systems market has witnessed considerable growth in countries such as the US, China, India, and Mexico, owing to increasing vehicle electrification, rising vehicle production, and progressively stringent safety norms.

Active safety includes pre-crash warning, prevention, and post-crash rescue management. Active safety, as a production technology, is in the nascent stage of development, but has substantial potential to reduce the harmful effects of road traffic accidents on occupants and pedestrians. The ultimate goal is to create an accident-proof vehicle, which informs the driver of hazards and intervenes, whenever necessary, to avoid disaster. The active safety systems market, by value, is estimated to grow at a higher CAGR than passive safety systems from 2015 to 2020. This report forecasts the future scenario of the active safety systems market in major countries.

Features such as antilock braking systems (ABS) and tire pressure monitoring systems (TPMS) are now mandatory in regions such as North America and Europe. This has resulted in the increasing usage of safety systems in the region. The sales statistics for North America indicate promising growth potential, due to the increasing sales of pick-up trucks and SUVs. The region also has stringent emission and fuel economy standards.

Questions arise with regard to insurance coverage when a vehicle controls a number of major functions, but still requires constant attention from the driver, and when the driver's attention is reduced to the extent that they can focus on other activities. In either case, defining fault and liability in the event of a collision is almost impossible. As driver inputs are not constant, evaluating a collision to determine when a driver is in control or in the process of continually regaining and relinquishing control and is thus responsible for driving, is a difficult task. Another layer of complexity is introduced when vehicles communicate with one another to coordinate their activities. In this case, determining which vehicle was the cause of the collision-inducing action may be difficult.

Related Content

  • October 13, 2015
    Half of top OEMs work on LiDAR technology for ADAS
    Light detection and ranging (LiDAR) technology, as part of an advanced driver assistance system (ADAS) sensor suite, will be mostly deployed for active safety functions with only 29 per cent fitted for fully automated driving purposes by 2021, according to Frost & Sullivan. Out of the top 13 original equipment manufacturers (OEMs), seven are working on automated driving passenger vehicles using a LiDAR. Frost & Sullivan’s latest analysis, LIDAR-based Strategies for Active Safety and Automated Driving from M
  • May 17, 2012
    Hybrid and EVs growth impact on traction motors predicted by Frost & Sullivan
    Electrification in vehicles is a key trend in the automotive industry. The increase in electric components within vehicles is boosting the market for traction motors and Frost & Sullivan says it anticipates the European traction motor market to grow at a compound annual growth rate (CAGR) of 50 per cent for hybrid electric vehicles (HEVs) and electric vehicles (EVs). Permanent magnet motors are expected to dominate the market by virtue of their performance and efficiency. However, the growing concern over t
  • March 7, 2014
    Global lane departure warning system market 2014-2018
    TechNavio's analysts forecast the global lane departure warning system market to grow at a CAGR of 25.86 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing demand for autonomous vehicles. The global lane departure warning system market has also been witnessing the increasing number of mergers and acquisitions. However, the recent economic slowdown could pose a challenge to the growth of this market. TechNavio's report, the Global Lane Depart
  • April 17, 2014
    Smart/intelligent sensors market 2013-2019
    According to a new market report published by Transparency Market Research Smart/Intelligent Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,”, the global smart/intelligent sensors market is expected to reach a value of US$21.60 billion by 2019, growing at a CAGR of 12.2 per cent from 2013 to 2019. Growing demand for automobiles and growth in the intelligent transport system (ITS) has led to the increase in demand of smart/intelligent sensors. The other f