The car safety systems market, by value, is projected to grow at a CAGR of 10.24% from 2015 to 2020. This growth can be attributed to the impact of current and future safety regulations and growing awareness regarding safety systems among consumers. Car safety regulations are a set of guidelines/protocols for automotive component/vehicle design, manufacturing equipment, and safety systems. The primary objective of these regulations is to minimize the occurrence and consequences of automobile accidents.

Browse 39 market data Tables and 46 Figures spread through 130 Pages and in-depth TOC on "Car Safety Market- Trends & Forecast to 2020"

The car safety systems market is estimated to be USD 93.73 Billion in 2015, and is projected to reach USD 152.59 Billion by 2020, growing at a CAGR of 10.24%. The car safety systems market has witnessed considerable growth in countries such as the U.S., China, India, and Mexico, owing to increasing vehicle electrification, rising vehicle production, and progressively stringent safety norms.

Active Safety: Gaining popularity

Active safety includes pre-crash warning, prevention, and post-crash rescue management. Active safety, as a production technology, is in the nascent stage of development, but has substantial potential to reduce the harmful effects of road traffic accidents on occupants and pedestrians. The ultimate goal is to create an accident-proof vehicle, which informs the driver of hazards and intervenes, whenever necessary, to avoid disaster. The active safety systems market, by value, is estimated to grow at a higher CAGR than passive safety systems from 2015 to 2020. This report forecasts the future scenario of the active safety systems market in major countries.

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Europe & North America: Stringent safety norms driving the market

Features such as antilock braking systems (ABS) and tire pressure monitoring systems (TPMS) are now mandatory in regions such as North America and Europe. This has resulted in the increasing usage of safety systems in the region. The sales statistics for North America indicate promising growth potential, due to the increasing sales of pick-up trucks and SUVs. The region also has stringent emission and fuel economy standards.

Impact on insurance sector: who will take responsibility?

With regard to insurance coverage, questions arise when a vehicle controls a number of major functions, but still requires constant attention from the driver, and when the driver’s attention is reduced to the extent that they can focus on other activities. In either case, defining fault and liability in the event of a collision is almost impossible. As driver inputs are not constant, evaluating a collision to determine when a driver is in control or in the process of continually regaining and relinquishing control and is thus responsible for driving, is a difficult task. Another layer of complexity is introduced when vehicles communicate with one another to coordinate their activities. In this case, determining which vehicle was the cause of the collision-inducing action may be difficult. The report covers all major players in the global car safety systems market, including Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K.), Robert Bosch GmbH (Germany), and Toyoda Gosei Co. Ltd. (Japan).

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