Global Driver Safety Systems Market was valued at US$ 23.02Bn in 2019 and is expected to reach US$ 102.10Bn by 2027, at a CAGR of 20.46% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Driver safety systems have been around for a long time, and they have already proven time and time again to result in an improved driving experience or better overall road safety.
The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
Major driving factors of the Driver Safety Systems market are a crucial issue for the right to live and to improve safety on the roads and for those who are driving vehicles; the automated system is proven to reduce road fatalities. The safety features that help the driver in the driving process; by doing so, accidents due to negligence and fatigue will be significantly too reduced.
Growing numbers of features that increase the safety of vehicles, with adaptive high beams, collision detection, and autonomous night vision all key components of these systems. An increasing number of systems available that aim to improve vehicle and driver safety is creating an opportunity in the driver safety systems market. High-cost and Huge Investment will act as restraints to the market.
Based on the Safety System, the Anti-lock braking system segment is expected to hold the largest share in the Driver Safety Systems market during the forecast period. The global Anti-lock Braking System (ABS) market is largely driven by the factors such as rising demand for safety features, technological advancement, and stringent government safety rules & regulations.
ABS may be an extremely effective system that prevents instant protection from an automobile wheel whereas braking and therefore prevents major accidents that are caused thanks to skidding. ABS brake manufacturers are increasingly focusing on widening their geographic presence and strategizing ways to penetrate the automotive anti-lock breaks market in the APAC region.
In Trends – Embedded vision.
Automotive vision systems area unit progressively essential for distinguishing and chase potential hazards. Besides providing important input for high-level warning functions like lane drift or unobserved traffic, these systems offer the information required to support a growing array of services as well as automatic parallel parking or traffic sign recognition for speed-change warning.
Vision systems conjointly offer the inspiration for driver observance systems that warn once driver attention begins to wander from somnolence or distraction. The emergence of the specialized computer-vision package, hardware, and development systems has virtually erased ancient challenges in making these systems.
In terms of region, Asia Pacific is expected to hold the largest share in the Driver Safety Systems market during the forecast period. Growing demand for automobiles in the Asia Pacific is anticipated to be one of the key driving factors for the driver safety market in this region over the forecast period. The Asia-Pacific growing prosperity and urbanization, per-capita income has started good growth in the middle and high-income Asian countries like the Republic of Korea and Japan.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the Driver Safety Systems market. Moreover, the study also covers a Driver Safety Systems market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
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Global Driver Safety Systems Market, by Safety Systems
• Traction control system
• Anti-lock braking system
• Hill assist system
• Adaptive front lighting
• Cruise control
Global Driver Safety Systems Market, by Sensor-Based Safety Systems
• Infrared sensor
• Safety camera
• Ultrasonic sensor
• LIDAR sensor
Global Driver Safety Systems Market, by Vehicle Type
• Passenger Vehicle
• Commercial Vehicle
Global Driver Safety Systems Market, by Region
• North America
• Middle East & Africa
• South America
Key Players Operating in the Driver Safety Systems Market
• TRW Automotive Holdings Corp
• Takata Corp
• Toyoda Gosei Co. Ltd
• Autoliv Inc
• Tokai Rika Co. Ltd
• Delphi Automotive LLP
• Hyundai Mobis
• Nihon Plast Co. Ltd.
• Raytheon Co
• FLIR Systems Inc
• Continental AG
• Hella KGaA Hueck & Co
• East Joy Long Motor Airbag Co. Ltd.
• Tokai Rika Co. Ltd
• Infineon Technologies AG.
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