LONDON--(BUSINESS WIRE)--The global automotive brake override system market is expected to post a CAGR of more than 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Electric vehicle (EV) manufacturers are integrating advanced technologies to improve the safety and performance of their vehicles. For example, EV original equipment manufacturers (OEMs) are increasingly integrating brake override systems to enhance safety and vehicle efficiency. Factors such as rising awareness about vehicle emission, expanding EV charging infrastructure, and stringent government regulations are driving the adoption of battery electric vehicles (BEVs). With the growing adoption of BEVs, the market is expected to witness a surge in the demand for brake override systems during the forecast period.
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As per Technavio, advances in advanced driver-assistance systems (ADAS) technology will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Automotive Brake Override System Market: Advances in ADAS Technology
Consistent R&D efforts by OEMs have led to the development of advanced sensors and technologically sophisticated systems that have improved the reliability of advanced electronic technologies such as ADAS. The growing emphasis on vehicle safety is increasing the adoption of such technologies across various vehicle segments. Also, the rising focus on the development of autonomous vehicles is expected to further increase the adoption of ADAS technologies. These factors are providing new growth opportunities for active safety technologies, such as brake override systems.
“Apart from advances in ADAS technology, OEMs shift toward electrifying the vehicle fleet and the increasing emergence of autonomous vehicles are some other major factors that will boost the market growth during the forecast period”, says a senior analyst at Technavio.
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Global Automotive Brake Override System Market: Segmentation Analysis
This market report segments the global automotive brake override system market by vehicle type (passenger cars and commercial vehicles) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by APAC, Europe, MEA, and South America respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the increasing demand for lightweight vehicles in the US.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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