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The critical factors driving the global Vehicle Safety System market growth are growing awareness about road safety measures, increased efforts of automotive manufacturers to building their repute & brand name to maintain the brand goodwill and the increasing number of high-end and high-performance cars in the market.
The global Vehicle Safety System market segmentation segments the market into active technology, passive technology, fuel used, offering, vehicle type, and lastly, region. Based on active technology, this market has been segmented into anti-lock braking system (ABS), blind spot detection (BSD), electronic brakeforce distribution (EBD), electronic stability control (ESC), lane departure warning (LDW), and tire pressure monitoring system (TPMS).
The regional segmentation of the global Vehicle Safety System market has segmented the global market into regional markets namely Asia Pacific, North America, Europe, the rest of the world (RoW). North America is the largest regional market due to technological advancement, established automotive industry, world’s best road infrastructure, and the presence of many important automakers in this region, especially in the United States of America (USA).
On the basis of passive technology, the market has been segmented into the airbag, pedestrian, and whiplash protection. In the context of fuel used by the vehicles, the market has been segmented into diesel, electric vehicle (EV), hybrid electric vehicle (HEV), and petrol. As per the offering, the market has been segmented into hardware and software. By vehicle type, the market can be segmented into passenger vehicle, heavy commercial vehicle (HCV), and light commercial vehicle (LCV).
Europe is an important market because it produces some of the most innovative and technologically advanced automobiles which invariably leads to better and faster cars. In this region, the important country-specific markets are Germany and Spain. France and the United Kingdom (UK) are two important economies in this region.
Based on the number of automobiles manufactured and sold, the Asia Pacific region is said to be the biggest automotive market. Hence, this region has the highest vehicle population, resulting in market growth. India is the most important market in this region, followed by the remaining countries in the Asia Pacific region.
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