Global Automotive Safety Electronics Market to 2023: Analysis by Product, Vehicle Type and Geography
The "Automotive Safety Electronics Market - Global Outlook and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
This market research report on the global automotive safety electronics market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product (systems and sensors), by vehicle type (economy cars, luxury cars, and mid-priced cars), and by geography (APAC, Europe, North America, Latin America, and MEA).
The global automotive safety electronics market is anticipated to reach values of approximately $40 billionby 2023, growing at CAGR of more than 12% during 2017-2023.
The increasing proliferation of automotive electronics that enable centralized control and seamless exchange of data and information between various systems is augmenting the growth of the global automotive safety electronics market. The launch of systems that are designed to enhance user experience and convenience will revolutionize the automotive industry in the global market.
The growing demand for connected cars with the growing integration of smartphones and electronic devices will transform the global market. The adoption of advanced features such as telematics, ADAS solutions, digital clusters, and high-end infotainment systems is boosting the demand in the global market.
Some of the prominent vendors are developing a new cost-efficient 3D surround view system designed for economy and mid-priced vehicles to attract a wider group of consumers and gain a larger global market share.
The innovations in the field of safety systems, infotainment, electrification of engine mechanism, and propulsion technologies will create new investment opportunities for OEMs operating in the global market.
The growing applications for semiconductors across hybrid and electric vehicle segments will have a positive impact on the overall development of the global automotive safety electronics market.
Factors such as rapid electrification of vehicles, adoption of connected vehicle concept, and integration of advanced safety features are expected to boost the demand for these systems in mass mid-segment vehicles in the market. The vendors are introducing new safety electronics systems and solutions to boost their revenues in the global market.
The growing focus on the electrification of automotive mechanics will lead to the evolution of the global automotive safety electronics market. The increase in government regulations to reduce vehicle emissions and curb environmental pollution is promoting electrification of vehicles in the global market.
The top manufacturers are investing in technologies to reduce the weight of vehicles and integrating efficient functioning systems leading to higher fuel efficiency and reducing tailpipe emission. The OEMs are leveraging electronic controls to activated functions such as the braking system, steering control, and throttle control in vehicles launched in the global market.7