Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 12.5 Billion | USD 23.1 Billion | 8.0% | 2022 |
FrequentlyAsked Questions
Safety is a keyword based on which every worldwide standard is defined. No matter it is a product or a service, the whole calculation of the mechanism is derived from the perspective of safety. And in terms of human safety, while driving, it is a stringent parameter considered before designing the process, product, or any mechanism. The government introducing regulations related to passenger safety and forcing the automobile manufacturer to assemble required safety features has motivated the demand for driver safety systems market.
Vehicle owners by self-modifying the safety of their vehicles’ gradation has significantly increased the demand for the safety systems market in the aftermarket, this also drives the growth of the global driver safety systems market. Technology and engineering companies coming up with various new developments that support the safety of drivers and passengers have created some impressive impact on the global market.
According to the report, the global market size was worth around USD 12.5 billion in 2022 and is predicted to grow to around USD 23.1 billion by 2030.
The global driver safety systems market is expected to grow at a CAGR of 8.0% during the forecast period.
The global driver safety systems market growth is expected to be driven by the Asia Pacific. It is currently the world’s highest revenue-generating market owing to the large production base of automobiles and the increasing emphasis of the government on safety.
The global driver safety systems market is dominated by players like TRW Automotive Holdings Corp, Takata Corp, Toyoda Gosei Co. Ltd, Autoliv Inc, Tokai Rika Co. Ltd, Delphi Automotive LLP, Hyundai Mobis, Nihon Plast Co. Ltd., Raytheon Co., FLIR Systems Inc., Continental AG, Hella KGaA Hueck & Co, East Joy Long Motor Airbag Co. Ltd., Tokai Rika Co. Ltd and Infineon Technologies AG among others.
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