DETROIT, October 23, 2018
DETROIT, October 23, 2018 /PRNewswire/ --
Stratview Research announces the launch of a new research report on Automotive Active Safety Sensors Market by Vehicle Type (Passenger Car, LCV, and M&HCV), by Sensor Type (Radar Sensor, LiDAR Sensor, Camera Sensor, and Others), by Application Type (Braking System, Adaptive Cruise Control, Blind Spot Detection, Lane Departure Warning and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
This market report, from Stratview Research, studies the active safety sensors market in the global automotive industry over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Automotive Active Safety Sensors Market: Highlights
With more than 1 million annual road fatalities worldwide, safety has become important for the automotive industry. Various safety regulatory organizations, such as NCAP (New Car Assessment Program) and NHTSA (National Highway Traffic Safety Administration), are imposing stringent safety regulations on automakers, which are encouraging automakers to incorporate active safety systems into their new cars. Sensors are nowadays considered a very crucial product for passenger safety as they recognize accident hazards or events in milliseconds. The main function of active safety sensors is to help the driver control the vehicle to avoid accidents and enhance the driving experience under various road conditions.
As per Stratview Research, the global automotive active safety sensors market 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, growing trend towards advancing of 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 active safety sensors in the automotive industry. Organic growth of the automotive industry further substantiates the demand for active safety sensors in the industry.
The author of the report cited that 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 in areas of electric vehicles, autonomous vehicles, and enhancements in fuel efficiency. Active systems are going to play a mammoth role in achieving such areas.
Based on the sensor type, 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 during 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.
Based on the application type, the market is segmented as braking system, adaptive cruise control, blind spot detection, lane departure warning, and others. Braking system is expected to remain the most dominant segment of the market during the forecast period and is also likely to grow at an impressive rate during the same period.
In terms of region, 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 share of autonomous and semi-autonomous vehicles in the region. However, Asia-Pacific is likely to experience the highest growth during the same period.
Major automotive active safety sensor suppliers are Continental AG, Autoliv Inc, 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.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies active safety sensors market in the global automotive industry and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
By Vehicle Type
By Sensor Type
By Application Type
Stratview Research has several high value market reports in the global automotive industry. Please refer to the following link to browse through our reports:
Click Here for Other Reports from Stratview Research in the Automotive Industry
Some of our other premium reports in the automotive industry:
Automotive Airbag Inflators Market by Vehicle Type, by Airbag Type, by Inflator Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018 - 2023
Automotive Headlamp Reflector Market by Vehicle Type, by Light Type, by Material Type, by Manufacturing Process, by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018 - 2023
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.