Automotive Active Safety Sensors Market set to US$ 18,554.5 million 2023
February 20, 2020
Automotive Active Safety Sensors Market Overview:
The global automotive active safety sensors market size is likely to witness an excellent double-digit growth over the next five years to reach US$ 18,554.5 million in 2023. Increasing usage of active systems in passenger cars to reduce the number of accidents, implementation of stringent regulations regarding passenger safety, a growing trend towards advancing the vehicles by making it autonomous, and market entry of technology-driven companies like Apple and Google are some of the major factors that are proliferating the growth of the active safety sensors in the automotive industry. Organic growth of the automotive industry further substantiates the demand for active safety sensors in the automotive industry.
The Diverse Stand Points:
The true picture of the market shall not emerge till the time the market is analysed from various point of views. Each vantage point gives better understanding of the market. The market of Automotive Active Safety Sensors has been viewed from various perspectives such as:
- By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Medium- & Heavy-Duty Commercial Vehicles)
- By Sensor Type (Radar Sensor, LiDAR Sensor, Camera Sensor, Others)
- By Application Type (Braking System, Adaptive Cruise Control, Blind Spot Detection, Lane Departure Warning, Others)
- By Region (North America, Europe, Asia-Pacific, and RoW)
Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
- Which are the best performing segments of the market?
- Which is the most dominant region?
- Who are the movers and shakers of the market?
- What are the regional growth hotspots?
- What are the segmental growth forecasts?
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Automotive Active Safety Sensors Market Segment Insights:
Passenger Car: The growth engine
The market is segmented based on the vehicle type as passenger car, LCV, and M&HCV. Passenger car is expected to remain the growth engine of the market during the forecast period. High production of cars coupled with an increased adoption of active safety systems is driving the segment. Passenger car has been undergoing the most disruptive advancements with the targeting areas are electric vehicles, autonomous vehicles, and enhancements in fuel efficiency. Active systems are going to play a mammoth role in achieving such areas.
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https://www.stratviewresearch.com/toc/397/Automotive-Active-Safety-Sensors-Market.html
Dominance of: Radar Sensor
Based on the sensor type, the market is segmented as radar sensor, LiDAR sensor, camera sensor, and others. Radar is expected to remain the dominant sensor type in the market during the forecast period. The sensor type is also likely to grow at an impressive rate in the same period. Radar sensors have longer and higher resolution properties that allow them to easily distinguish between multiple objects in real time. They are also not very much affected by environmental conditions, such as lighting, weather, and particles. These factors are some of the key whys and wherefores for higher growth of radar sensors as compared to other sensors. Another factor evoking interest towards the usage of radar sensors is its large-scale adoption in ADAS (Advanced Driver Assistance Systems) technologies.
A highly/moderately/fragment consolidated Market
The supply chain of this market comprises raw material suppliers, sub-component manufacturers, active safety sensor suppliers, active safety system suppliers, automotive tier players, automotive OEMs, and dealers. The key automotive active safety sensor suppliers are Continental AG, Veoneer, Robert Bosch GmbH, Valeo Group, and Aptiv PLC. Development of low-cost sensors and formation of strategic alliances with OEMs and active safety system suppliers are the key strategies adopted by the major players to gain a competitive edge in the market.
Regional Hegemony of Europe
Europe is expected to remain the largest automotive active safety sensors market during the forecast period, owing to the high adoption of active safety systems to address the stringent regulations of safety standard of Euro NCAP (New Car Assessment Programme) and increasing the share of autonomous and semi-autonomous vehicles in the region.
Asia-Pacific is likely to experience the highest growth during the same period. Japan and China are the growth engines of the Asia-Pacific’s market for active safety sensors. Currently, both countries collectively account for more than 65% share of the Asia-Pacific’s market and are likely to grow at an impressive rate during the forecast period.
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Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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