LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement intelligence advisory firm, has announced the release of their ‘Automotive Safety Systems Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the components and spares industry. This report breaks down the data and analysis behind the procurement of automotive safety systems and acts as an all-inclusive guide for making smart purchasing decisions.
“Growing awareness among end-users and the rising regulatory mandates regarding the adoption of active automotive safety systems are the major factors driving the growth of the automotive safety systems market,” says SpendEdge procurement analyst Bhuvaneshwari Udayakumar. “Also, North America and Europe have the largest market share in the global market, due to the early adoption of automotive safety systems in vehicles,” added Bhuvaneshwari.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Automotive Safety Systems Market:
- The emergence of autonomous vehicles
- Rise in the incorporation of telematics solutions
- Increasing focus on road safety by UN
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The emergence of autonomous vehicles:
In the recent years, there has been a considerable rise in the autonomous vehicles. Autonomous vehicles, at large, utilize a variety of techniques with advanced control systems to operate without human input. This helps the suppliers to make adequate changes in their offerings to keep pace with the latest market trends.
Rise in the incorporation of telematics solutions
Telematics refers to the integrated use of telecommunications to send, receive, and store information. In vehicles, telematics can be deployed to monitor drivers’ behavior and provide the necessary feedback to improve the overall safety.
Increasing focus on road safety by UN
Globally, road safety has become a tethering issue due to the increasing number of injuries and road accidents. The growing awareness of road safety will further supplement the growth of the automotive safety systems.
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