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Global Automotive Safety System Market is projected to grow at a CAGR of 11% through 2028

Global Automotive Safety System Market is projected to grow at a CAGR of 11% through 2028Global Automotive Safety System Market is expected to reach US $ 261.66 BN By Forecast year 2028 Automotive Differential Market size is expected to grow from US $ 110.32 BN in 2020 to US $ 261.66 BN by 2028, at a CAGR of 11.4%.

The market report “Automotive Safety System Market by Offering (Hardware and Software), On-Highway Vehicles (Passenger Cars (PC), Commercial Vehicle, Buses and Trucks), Off-Highway Vehicles (Agriculture Vehicle and Construction Vehicle), Engine Types (Internal Combustion Engine (ICE) and Electric Vehicles (EVs)), Vehicle Autonomies (Non-Autonomous, Semi-Autonomous and Fully Autonomous), Fuels Used (Petrol and Diesel), Processes (Mechanical Process, Hydraulic Process and Pneumatic Process), Stampings (Hot Stamping and Cold Stamping), Vehicle Types (Mid-Priced Cars, Luxury Cars and Economy Cars), Products (Active Safety and Passive Safety), Technologies (Active Safety System and Passive Safety System), End Users (Original Equipment Manufacturer (OEM) and Aftermarket) and Region – Forecast to 2028”. The automotive safety system market is growing at a CAGR of 11.4% by 2028, owing to the demand for a safe, efficient, and convenient driving experience.

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Based on product, the active safety segment is estimated to grow at highest CAGR segment during the study period.On the basis of product, the market is categorised into active safety and passive safety. Active safety segment is estimated to be the have the highest growth during the study period due to the constant demand for premium vehicles along with the rising trend for autonomous vehicles.

Based on on-highway vehicle, the passenger car (PC) segment is anticipated to grow faster during the forecast period.On the basis of on-highway vehicle, the market is segmented into passenger cars (PC), commercial vehicle, buses and trucks. Passenger cars (PC) segment is projected to grow faster during the forecast period which can be attributed to the improved lifestyle and purchasing power of people in emerging countries and the development of infrastructure in these countries.

By geography, North America is expected to dominate the marketOn the basis of geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America region is experiencing a dominant position in the automotive safety system market. This could primarily be attributed to the robust infrastructure facilities prevailing in the region. Increasing population is also one of the factors contributing to the growth of the market in this region.

The key players in this market are Autoliv, Bendix Commercial Vehicle Systems LLC, BMW, BYD Auto Co. Ltd, Continental AG, Delphi Automotive, Hella Electronics Corp, Infineon Technologies, Magna International, Mando, Robert Bosch GmbH, Toyoda Gosei Co., WABCO Vehicle Control System and ZF Friedrichshafen AG.

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