Automotive Active Safety Systems Market: Introduction
- Vehicle safety is termed as the design and implementation of regulations, equipment, and infrastructure to minimize the consequences of automobile accidents. Vehicle safety systems can be broadly classified in two major segments, namely active and passive systems.
- Automotive active safety systems monitor the vehicle surroundings and performance to alert the driver and prevent any mishap before it actually occurs. If a collision is impractical to avoid, active safety systems are also able to reduce the severity of impact.
- A vehicle active safety system can perceive the surrounding and operational parameters by using sensors such as radar, cameras, and ultrasonic sensors. Subsequently, processors interpret this information and take corrective actions if needed or alert the occupants.
Key Drivers of Automotive Active Safety Systems Market
- Rise in number of vehicle accidents has created awareness amongst people as well as international organizations. For instance, the United Nations established the 2030 Agenda for Sustainable Development, which includes a target to reduce road traffic deaths and injuries by 50%. Amidst this growing focus on vehicle on-road safety, OEMs are researching about new safety systems for their vehicles. Passive safety systems are reaching the maturity level, which limits the growth opportunity. Active safety measures offer considerable potential by avoiding emergency situations to further increase the on-road safety of vehicles, altogether, or at least by actively helping the driver to mitigate them properly. These benefits have prompted automakers to incorporate some sort of driver assistance systems in their vehicles, which increase vehicle safety, thereby fueling the global automotive active safety systems market.
- Rising burden of road accidents and the cost they implicate on public health has compelled government authorities worldwide to introduce multiple regulations that mandate some active safety systems to ensure safety of vehicle driver and co-passengers.
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Challenges in Automotive Active Safety Systems Market
- Active safety systems are based on input from sensory devices, and malfunction of these sensors may lead to wrong actions taken by the vehicle, which can cause a mishap. Furthermore, these sensors are subjected to harsh environments, which increases replacement frequency and increases the overall price for customers. These factors restrain the automotive active safety systems market.
Impact of COVID-19 pandemic on Automotive Active Safety Systems Market
- The COVID-19 pandemic outbreak hampered multiple industries across the globe including automotive sector. Supply chains of automotive companies were hindered due to the lockdowns imposed by governments, thus creating a shortage of raw materials and components. This disruption hampered the demand for automobiles, thereby restraining the automotive active safety systems market. However, governments are presently lifting restrictions of trade and manufacturing activities and numerous companies are restarting their operations with precautionary measures, which in turn is expected to restore the demand for automotive active safety systems.