Global Automotive Safety System Market: Key Highlights
Global Automotive Safety System Market: Key Market Dynamics
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Global Automotive Safety System Market: Regional Overview
The automotive safety system market in the North America region is projected to witness high demand due to the rising number of accidents, resulting in loss of lives and properties. According to US National Highway Traffic Safety Administration (NHTSA), indicates that 88% of rear-end collisions occur due to the negligence of the driver, or following the other vehicle closely. Thus, rising safety concerns has expected to surge the demand for the product market.
Europe is expected to witness steady growth in automotive safety system during the forecasted period owing to the stringent government regulations regarding occupant and pedestrian safety for vehicles. For instance, countries such as Germany, the United Kingdom, and France are promoting Euro NCAP, a car assessment program activity to ensure the safety. Thus, implementation of such programs has expected to drive the product market growth.
Global Automotive Safety System Market: Key Players Overview
Autoliv Inc. is one of the leading manufacturer and supplier of automotive safety products, and is operated in 27 countries across the globe. In 2019, the revenue generated by the company was USD 8.5 billion. In October 2017, the company has announced the open of new Electronics Technical Center in Southfield, Michigan which will help to grow several key safety electronic systems.
DENSO CORPORATION is one of the leader in global automotive supplier of advanced technology, systems and components in the areas of thermal, power train control, electronics and information and safety. The company has global presence in more than 200 subsidiaries. In March 2017, the company generated revenue of USD 40.4 billion. In Jan 2018, the company developed a new version sensor for improved night diving system which will help to reduce accidents by detecting pedestrians and other road users in low-light situations.
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