Automotive Active Safety System Market Size Is Set To Grow By USD 2.19 Billion From 2024-2028, Increase In Safety Concerns Boost The Market, Technavio

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Market Driver

Automobile companies are prioritizing customer needs and delivering customized solutions in a fully connected automotive environment. Artificial Intelligence (AI) technology is increasingly being adopted in Advanced Driver-Assistance Systems (ADAS) due to the rising demand for functions that mimic human brain capabilities. AI-based ADAS continuously learns from experiences and enhances its ability to detect and recognize surroundings. These systems consume less power and reduce ADAS development time. Prominent ADAS manufacturers are developing AI-based solutions to improve vehicle safety and autonomy. The surge in demand for safer and more autonomous vehicles is driving the growth of AI-enabled ADAS solutions. Automakers are investing heavily in autonomous vehicles, which rely on advanced AI-enabled ADAS to navigate roads and prevent accidents. Sensor technology and computing power advancements enable real-time data processing, leading to the development of advanced features like adaptive cruise control, lane keep assist, and automatic emergency braking. For instance, Continental AG launched new ADAS solutions based on Ambarella's CV3 AI system-on-chip (SoC) family in November 2022. Such developments are expected to fuel the growth of the global automotive active safety system market during the forecast period. The integration of AI into ADAS systems is revolutionizing how vehicles perceive and respond to their environment, making the market a significant trend. The increasing demand for advanced safety features, technology advancements, and government regulations are expected to drive market growth.

The Automotive Active Safety System market is witnessing significant growth due to increasing demand for advanced vehicle safety features. Key trends include Blind Spot Detection, Lane Keep Assist, and Anti-roll braking systems. Investment pockets lie in technological improvements such as Lidar, radar, cameras, ultrasonic sensors, machine learning, and AI. Market drivers include shifting customer tastes towards safer vehicles, urbanization, and traffic congestion. Key restraints include high production costs and regulatory challenges. Mitsubishi Motors Corporation, Seatbelts, and Headrests are traditional safety features still in demand. Market opportunities include autonomous and connected vehicles, telematics, and environmental concerns. Buyers seek reliable suppliers to meet increasing demand. Competitive intensity is high, with key players investing in R&D for technological advancements. Market share is fragmented, with major players including Mitsubishi Motors Corporation. Demand for vehicle safety systems is driven by traffic, long distance travel, and high-speed vehicles. Young customers prioritize safety features when purchasing vehicles. Key suppliers include Bosch, Continental AG, and Delphi Technologies. Technological improvements and shifting customer tastes are expected to continue driving market growth.

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Market
Challenges

• The automotive industry is currently experiencing a manufacturing slowdown due to the semiconductor chip shortage and supply chain disruptions caused by the COVID-19 pandemic. This situation may significantly impact the global automotive active safety system market, as the availability of critical components, such as semiconductor chips, is uncertain. Production delays and reduced output could affect the deployment of active safety systems in new vehicles. Additionally, changing consumer preferences and the shift toward electric and hybrid vehicles, which have different safety requirements, may impact the demand for certain types of active safety systems during the forecast period.
• The Automotive Active Safety System market is witnessing significant growth due to increasing demand for advanced vehicle safety features. Key drivers include blind spot detection, lane keep assist, and anti-roll braking systems. Challenges include the high cost of technologies like
  lidar, radar, cameras, ultrasonic sensors, machine learning, and AI. Market trends include the shift towards driverless and connected cars, urbanization, and long-distance travel. Mitsubishi Motors Corporation and other suppliers are investing in technological improvements to meet buyer needs. Market restraints include regulatory challenges and shifting customer tastes towards environmental concerns. Opportunities lie in the production of autonomous vehicles, connected vehicles, telematics, and seatbelts. Competitive intensity is high, with key players focusing on innovation and cost reduction. Buyers seek reliable and affordable safety systems for their automobiles, especially during traffic, urban driving, and high-speed vehicles. Accidents and collisions remain a major concern, making active safety systems a must-have for automakers.

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Segment Overview

This automotive active safety system market report extensively covers market segmentation by