Automotive Safety Systems Market Share

Asia Pacific industry is expected to account for largest revenue share by 2037, owing to rising consumer income levels, increased vehicle production, and increase in the number of luxury vehicles in the region. The Asia pacific region is estimated to dominate the global automotive safety system market. The rising consumer income levels, increased vehicle production in developing countries such as India and China, and increase in the number of luxury vehicles in countries such as Japan fuel the growth of this market in Asia pacific region. Furthermore, the complexity and the high cost of features are the key restraint for the growth of this automotive safety systems market. These systems comprise micro-controller units, electronic control units, and various sensors such as ultrasonic, image, radio or laser sensors, and infrared sensors. These components increase the complexity of the safety features, thereby raising the cost. Currently, a limited class of buyers can afford driver assistance features.