The Latest Automotive Safety System Industry Statistics Explained
As of 2017, the global automotive safety system market size was valued at USD 79.02 billion.
The statistic implies that in 2017, the total market value of automotive safety systems worldwide was estimated to be USD 79.02 billion. This indicates the considerable size and financial significance of the automotive safety system industry at that point in time. It suggests that there is a growing demand for safety features in vehicles, driven by factors such as increasing awareness of road safety, regulatory requirements, and advancements in technology. The market size figure serves as a key indicator for stakeholders in the automotive industry, including manufacturers, suppliers, and investors, to understand the economic scale and importance of the global automotive safety system market.
The market is expected to expand at a CAGR of 9.5% from 2018 to 2025.
This statistic indicates that the market is projected to grow at a Compound Annual Growth Rate (CAGR) of 9.5% from the year 2018 to the year 2025. CAGR is a measure of the annual growth rate of an investment over a specified period of time, assuming the growth happens at a steady rate. In this context, it suggests that the market is forecasted to steadily expand by 9.5% each year on average between 2018 and 2025. This information can be crucial for businesses and investors to assess the potential growth opportunities and make strategic decisions related to market participation, investment, and resource allocation.
Passive safety system dominated the market in 2017, representing over 60.0% share.
The statistic indicates that the passive safety system was the most prevalent type of safety system in the market during the year 2017, capturing a majority share of over 60.0%. Passive safety systems are designed to protect occupants in the event of a crash by minimizing the impact forces. This dominance suggests that vehicle manufacturers and consumers placed greater emphasis on crash survivability and protection during that period. The data could reflect trends in consumer preferences, regulatory requirements, advancements in passive safety technologies, or marketing strategies by automotive companies.
Passenger cars represented over 65.0% of the total revenue generated by the automotive safety system market in 2017.
This statistic indicates that in 2017, passenger cars contributed significantly to the total revenue generated by the automotive safety system market, accounting for more than 65.0% of the overall revenue. This suggests a strong reliance on safety systems in passenger cars and highlights the importance of safety features in this particular segment of the automotive industry. The high percentage also implies that manufacturers and consumers are increasingly prioritizing safety technology in passenger vehicles, potentially driving innovation and advancements in safety systems specific to this category of vehicles.
Active safety systems market is anticipated to witness the fastest CAGR over the forecast period.
This statistic suggests that the market for active safety systems is expected to experience the highest Compound Annual Growth Rate (CAGR) compared to other segments over the specified forecast period. Active safety systems refer to technologies designed to enhance vehicle safety by helping to prevent accidents. The faster CAGR forecast indicates that there is a growing demand for these systems due to increasing awareness about road safety, regulatory requirements, advancements in technology, and consumer preferences for vehicles equipped with advanced safety features. This trend suggests significant opportunities for growth and investment in the active safety systems market in the coming years.
Asia Pacific is expected to remain the largest market due to high demand for vehicles from countries such as China and India.
The statistic suggests that the Asia Pacific region is anticipated to maintain its position as the largest market primarily driven by a significant demand for vehicles in countries like China and India. This high demand is likely influenced by several factors such as population growth, increasing urbanization, rising disposable incomes, and improving infrastructure. The expanding middle class in these countries is expected to continue fueling the demand for vehicles, including cars, two-wheelers, and commercial vehicles. As a result, the automotive industry in the Asia Pacific region is projected to experience sustained growth and remain a key market for manufacturers and stakeholders in the foreseeable future.
The automotive safety system market in North America is projected to grow at a CAGR of 8.9% during the 2020-2030 period.
The statistic indicates that the automotive safety system market in North America is expected to experience significant growth over the decade from 2020 to 2030, with a Compound Annual Growth Rate (CAGR) of 8.9%. This implies that the market size for automotive safety systems is forecasted to expand at a steady pace, almost reaching a double-digit growth rate annually. The increasing focus on enhancing vehicle safety standards, advancements in technology such as autonomous driving features, and regulatory measures to improve road safety are likely driving factors behind this projected growth. This statistic suggests opportunities for industry players to capitalize on the growing demand for automotive safety systems in the North American market.
It is predicted that 50% of all road vehicles will have some form of connectivity by 2025.
The statistic indicates that by the year 2025, it is estimated that half of all road vehicles worldwide will be equipped with some form of connectivity technology, such as internet connectivity or communication devices. This prediction suggests a significant increase in the integration of advanced technology within vehicles, allowing for enhanced communication, safety features, and potentially paving the way for autonomous driving capabilities. The widespread adoption of connected vehicles could bring about changes in the transportation industry, impacting how vehicles are operated, maintained, and interact with their surroundings.
The passenger car segment of the automotive safety system market is expected to be worth $137.60 billion by 2025.
The statistic indicates that the passenger car segment within the automotive safety system market is projected to reach a value of $137.60 billion by the year 2025. This estimation suggests a significant anticipated growth in the market for safety systems specifically designed for passenger cars within the automotive industry. The value reflects the potential market size, encompassing a range of products and technologies aimed at enhancing the safety features and performance of passenger vehicles. Factors such as increasing awareness of safety among consumers, regulatory requirements, and technological advancements driving the demand for advanced safety systems in vehicles could contribute to the forecasted value for the passenger car segment in the automotive safety system market by 2025.
Commercial vehicle safety system market is expected to grow at notable CAGR of over 6% through 2025.
This statistic indicates that the commercial vehicle safety system market is forecasted to experience significant growth over the next five years, with a compound annual growth rate (CAGR) of over 6%. This suggests that the demand for safety systems in commercial vehicles, such as advanced driver assistance systems (ADAS) and collision avoidance technologies, is expected to increase steadily, leading to a notable expansion in the market size by 2025. Factors driving this growth may include rising awareness about road safety, tightening regulations on vehicle safety standards, and advancements in technology that enhance the safety features of commercial vehicles. Overall, this projection highlights a positive outlook for the commercial vehicle safety system market in the coming years.
The global automotive pedestrian protection system market, a crucial component of automotive safety systems, is set to grow at a CAGR of approximately 11.35% until 2023.
The statistic provided indicates that the global automotive pedestrian protection system market, which plays a vital role in enhancing automotive safety by reducing the risk of pedestrian injuries in accidents, is poised for significant growth. The Compound Annual Growth Rate (CAGR) of approximately 11.35% projected for the market until 2023 suggests a steady and robust expansion in the adoption of pedestrian protection systems by automotive manufacturers. This growth can be attributed to increasing concerns about road safety, regulatory mandates for pedestrian protection features in vehicles, technological advancements in safety systems, and rising consumer demand for vehicles equipped with advanced safety features. Overall, the forecasted CAGR signifies a positive trend towards the prioritization of pedestrian safety in the automotive industry, highlighting the increasing awareness and efforts to mitigate pedestrian-related accidents and injuries.
The tire pressure management system segment is forecast to experience a CAGR of 6.5% over the period 2019 to 2025.
This statistic means that the tire pressure management system segment is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.5% from 2019 to 2025. The CAGR is a measure of the annual growth rate of an investment over a specified period assuming that the growth happens at a steady pace. In this context, it suggests that the market for tire pressure management systems is expected to expand steadily at the rate of 6.5% per year from 2019 to 2025. This growth indicates increasing demand for such systems, likely driven by factors such as the emphasis on vehicle safety, regulatory requirements, and technological advancements in the automotive industry.
The autonomous car segment is predicted to see a 6% growth rate through 2026 due to the rising integration of safety features.
The statistic suggests that the autonomous car segment is forecasted to experience a 6% expansion in market size by the year 2026. This growth is attributed to the increasing incorporation of safety features within autonomous vehicles, which is likely to enhance their appeal to consumers and address concerns regarding road safety. The advancement and implementation of cutting-edge technologies such as artificial intelligence, sensors, and communication systems are expected to contribute to this growth by improving the overall performance and reliability of autonomous cars. Overall, the projected growth rate indicates a positive outlook for the autonomous car industry in the coming years, driven by a focus on safety and innovation.
Europe automotive safety system market generated around USD 25 billion in 2019.
The statistic “Europe automotive safety system market generated around USD 25 billion in 2019” indicates the total revenue generated by the automotive safety system industry in Europe within the specified year. This figure represents the combined sales of various safety systems such as airbags, anti-lock braking systems (ABS), electronic stability control (ESC), and other safety technologies integrated into automobiles to enhance passenger and pedestrian safety. The substantial market size highlights the growing importance placed on safety features by both consumers and regulators within the automotive industry in Europe, demonstrating a significant investment and commitment to improving vehicle safety standards in the region.
As per a report published by Fortune Business Insights, in 2019, the airbag segment accounted for around 34.8% of the automotive safety system market share in terms of revenue.
The statistic suggests that in 2019, the airbag segment held a significant portion of the automotive safety system market in terms of revenue, representing approximately 34.8% of the total market share. This indicates that airbags were a key player in the automotive safety industry during that period, highlighting their importance in ensuring the safety of vehicles and passengers. The data from Fortune Business Insights reflects the strong demand and adoption of airbag technology within the automotive sector, emphasizing the widespread recognition of airbags as an essential safety feature in vehicles.
The number of fatalities per 1,000 accidents decreased with 4.4% from 2016 to 2017 in the EU, showing the effectiveness of safety systems in vehicles.
The statistic indicates that there was a 4.4% decrease in the number of fatalities per 1,000 accidents from 2016 to 2017 within the European Union (EU). This decrease suggests an improvement in overall road safety within the EU during this time period, pointing towards the effectiveness of safety systems implemented in vehicles. The decline in fatalities per accidents indicates that safety measures, such as advanced technologies and regulations implemented in vehicle designs to enhance protection for drivers and passengers, may have contributed to a reduction in the severity of accidents and ultimately saved lives. This trend reflects positive progress in road safety efforts in the EU and underscores the importance of continuing to enhance vehicle safety features to further reduce the number of traffic-related fatalities.
More than 1.35 million people die each year as a result of road traffic crashes, demonstrating the increasing need for safety systems in vehicles.
The statistic that more than 1.35 million people die each year as a result of road traffic crashes highlights the urgent need for improved safety systems in vehicles. This staggering number of fatalities underscores the grave consequences of inadequate safety measures in vehicles and on roadways. As the global population and vehicle ownership continue to increase, the risk of accidents and road traffic fatalities also rises. Implementing advanced safety technologies, such as automated braking systems, collision warning systems, and improved road infrastructure, is crucial in reducing the number of deaths and injuries resulting from road accidents. This statistic serves as a stark reminder of the pressing need to prioritize road safety measures to prevent unnecessary loss of life on our roads.
By 2022, more than 93% of new cars in Europe will be equipped with Smart Speed Assistance (SSA), a safety feature to prevent speeding.
The statistic states that by 2022, over 93% of new cars in Europe will be fitted with Smart Speed Assistance (SSA), a safety feature designed to help prevent drivers from exceeding speed limits. This indicates a widespread adoption of technology aimed at increasing road safety and reducing the likelihood of accidents caused by speeding. The implementation of SSA in a large majority of new vehicles suggests a significant shift towards prioritizing safety features in the automotive industry, highlighting a growing emphasis on preventing speeding-related incidents and potentially contributing to overall improvements in road safety across Europe.
Due to the stringent traffic safety norms, the demand for anti-lock braking systems (ABS) is projected to amplify at a CAGR of 8% between 2018 and 2026.
The statistic suggests that the demand for anti-lock braking systems (ABS) is expected to grow significantly over the period from 2018 to 2026, with a compound annual growth rate (CAGR) of 8%. This growth projection is attributed to the strict traffic safety regulations that are likely driving the adoption of ABS in vehicles. Anti-lock braking systems are considered essential for enhancing vehicle safety by preventing wheels from locking up during sudden braking, thereby improving control and reducing the risk of accidents. The projected CAGR of 8% indicates a steady and substantial increase in the demand for ABS technology in the automotive industry, reflecting a growing emphasis on safety features in vehicles to meet regulatory standards and address consumer preferences.
Conclusion
The statistics presented underscore the importance of automotive safety systems in enhancing driver and passenger safety on the roads. With advancing technology and increasing safety regulations, the automotive safety system industry is poised for continued growth and innovation to further improve road safety for all.
References
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