Global Automotive Pedestrian Protection System Market | Global Development, Dema

Posted by Market Research Future on December 23rd, 2020

Market Insights

The automotive industry is witnessing rapid growth, and there are more vehicles on the road across the world than ever before. This has led to the recognition of an increased requirement for relevant security measures to ensure the protection of pedestrians. According to Market Research Future (MRFR), the global automotive pedestrian protection system (PPS) is projected to display an above average CAGR of 11.80% during the forecast period of 5949 to 2023. MRFR further projects the market is likely to grow to surpass the USD 2000 Mn mark by the end of the assessment period.

The increase in vehicular traffic has led to an escalating number of road accidents thus emphasizing the need for effective safety mechanisms on the road. Government and associated road safety authorities recognize this pattern and have implemented stringent laws in an effort to protect pedestrians. Penal action is taken against car drivers who are reckless or cause loss of human life, thus driving the growth of the automotive PPS market as the demand grows.

Request for Free Sample Report @ https://www.marketresearchfuture.com/sample_request/5949

PPS solutions are available in various forms and types. However, the cost of manufacturing and installation is high due to the need for customization. These systems and various parts must be designed according to the vehicle model. Moreover, these systems have a long way to go with regards to accuracy and have limitations which can cause system failure. These systems are highly complex and are under development. With technological advancements and heavy R&D investments, the market is headed toward opportunity and is likely to expand over the assessment period.

Market Segmentation

MRFR's segmental evaluation of the automotive PPS markets has been done based on technology, component type, type, vehicle type, and region. By technology, the market is segmented into active pedestrian protection system and passive pedestrian protection system. By component type, the market is segmented into sensor, actuator, control unit, cameras, and others. The battery segment is set to grow at the highest CAGR while sensors make up the most significant segment in the market. By type, the market is segmented into automatic braking & collision avoidance, brake assist, external airbags, and pop-up bonnets. By vehicle type, the market is segmented into internal combustion engines (ICE), electric vehicles, and hybrid vehicles. Although ICE vehicles account for the largest segment, the hybrid vehicles segment is growing rapidly as the demand for vehicles which use clean energy is growing. Globally, the market is divided into North America, Europe, the Asia Pacific and the Rest of the World.

Regional Analysis

The Asia-Pacific region is growing at a swift pace and is expected to experience a CAGR of 12.28% during the forecast period. Urbanization and increasing per capita income in the emerging economies of the region have led to premiumization. Most vehicle purchase decisions are influenced by the level of safety and technological advances that the vehicle offers. Consumers in the region due to premiumization are driving increased sales for automotive vehicles, which in turn has led to an increased demand for automotive PPS. Additionally, the region has a truly massive population, among which pedestrians are high in number, thus driving the need for protective measures. The region is also a fast developing industrial hub which a significant automotive manufacturing sector which is expected to drive significant demand for PPS solutions over the course of the review period. Meanwhile, North America is the most significant segment with the largest share. The existence of a thriving automotive industry and the highly stringent laws regarding pedestrian safety have driven the adoption of PPS. Several significant players in the region are key to developing advanced PPS solutions which is expected to contribute to market growth.

Key Players

MRFR's market study has revealed several key players who are influential through their market strategies. Prominent players include Aptiv PLC, Denso Corporation, Continental AG, Robert Bosch GmbH, and Magna International among others.

Latest Industry News

Cepton, in an agreement with Koito Manufacturing, has announced that it is developing a method of integrating its lighting systems with Cepton’s lidar sensors which are expected to offer vantage points from four directions and detect objects which are up to 300 meters away.

The Chevrolet Silverado has added several upgrades to its 2019 model which include brake assist.

Access Complete Report @ https://www.marketresearchfuture.com/reports/automotive-pedestrian-protection-system-market-5949