This research report on the global automotive safety electronics market offers analysis on size & forecast, share, industry trends, growth drivers, and vendor analysis. The 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 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. 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. 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 share. The innovations in the field of safety systems, infotainment, electrification of engine mechanism, and propulsion technologies will create new investment opportunities for OEMs. 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. The global automotive safety electronics market is anticipated to reach values of approximately $40 billion by 2023, growing at CAGR of more than 12% during 2017-2023.
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 globally. 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. The introduction of electric safety control systems such as anti-lock braking, electric parking brake, and advanced driver assistance systems (ADAS) will boost demand over the next few years. Stringent regulations encourage the exploration of alternative propulsion technologies such as flexible fuel, natural gas engines, hybrid electric and all-electric vehicles and fuel the development in the global market.
This market research report includes a detailed segmentation of the market by product, vehicle type, and geography.
Insights by Product Type
The global automotive safety electronics market by products is divided into systems and sensors. Sensors dominated a portion of the share in 2017, growing at a CAGR of over 28% during the forecast period. The increasing focus on improving the accuracy rate of sensor solutions will augment the growth of this segment. Top players are investing in the development of proper distribution and partitioning of system architecture to ensure the efficient and accurate working of sensors in the industry during the forecast period. The major sensors available in the global market include LiDAR, radar, ultrasonic sensor, and camera units (night vision and other vision. The innovations in camera-based suits will enable proper functioning of ADAS systems such as AEB, LDW, FCW, LKA, LC, TJA, traffic sign recognition (TSR), and intelligent high-beam control (IHC). New sensor solutions will be able to evaluate the surroundings in real-time and take necessary action during emergencies. Furthermore, the launch of 3-D lasers and 360-degree high-definition cameras that enable mapping systems will transform the global market over the next few years.
Insights by Vehicle Type
The vehicle type segment in the global automotive safety electronics market is categorized into economy cars, luxury cars, and mid-priced cars. Luxury cars occupied more than half of the share in 2017, growing at a CAGR of more than 9% during the forecast period. With the advancement in autonomous driving and growing demand for premium safety solutions, the growth of the luxury cars segment is increasing. Vendors are launching sophisticated systems and sensors to attract a maximum number of consumers in this segment. The introduction of safety norms to reduce the fatality and injury rate due to road accidents is encouraging the vendors to launch advanced safety technologies in the global market. The introduction of lane departure warning systems (LDWS) and autonomous emergency braking systems (AEBS) will boost the demand in the global automotive safety electronics market. The use of power electronic devices for various safety components such as airbag systems or ECS systems, and tire pressure monitoring systems will transform the global market.
Insights by Geography
The global automotive safety electronics market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. Europe dominated the majority of the share in 2017, growing at a CAGR more than 12% during the forecast period. The high investment in R&D and the implementation of stringent regulations are driving the growth of the European region in the global market. The growing demand for electric vehicles in countries such as Germany, UK, and France will boost revenues in Europe over the next few years. The stringent norms imposed by the European Commission and car assessment programs such as Europe New Car Assessment Program (Euro NCAP), mandating the installation of driver assistance and collision avoidance systems will transform the global automotive safety electronics market. Advancement in technology and growing demand for German-made luxury cars will help in propelling the growth of the European region during the forecast period.
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Key Vendor Analysis
The global automotive safety electronics market is moderately fragmented, with the top players controlling over 40% of the total share. The increasing focus on technological development and expansion of product portfolios will intensify the competition in the global market. The increasing threat of infiltration with low-quality products will result in intensified price wars among companies in the global market. The OEMs are competing on the basis of quality, technology, and price. The vendors are expanding their businesses and distribution networks to emerging countries in APAC to sustain the intense competition in the global automotive safety electronics market.
Other prominent vendors include ADVICS, Aisin Seiki, Aptiv (Delphi Automotive), Gentex, HARMAN, Hella, Hitachi, Hyundai Mobis, Infineon Technologies, Magna International, Mando (Halla Group), Mobileye (Intel), Nidec Elesys, NVIDIA Corporation, NXP Semiconductor, Omnivision, Panasonic, QNX, Renesas Electronics, Texas Instrument, TKJP (Takata), Tokai Rika, Toshiba, Valeo, Velodyne LiDAR, and WABCO.
Key market insights include
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