Europe Pedestrian Detection Systems Market Gain Impetus due to the Growing Demand over 2024

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Dec 14, 2019 (Xherald via COMTEX) —

Europe Pedestrian Detection Systems market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2019 to 2024 are profiled in this report.

The Europe Pedestrian Detection Systems market is highly competitive and consists of a number of major players. Top Companies like Toyota Motor Corporation, Volvo, BMW AG, Daimler AG (Mercedes-Benz), Audi AG, Nissan Motor Co. Ltd, Honda Motor Company Ltd, General Motors Company, Pedestrian Detection System Manufacturers, Mobileye, Robert Bosch GmbH, ZF Friedrichshafen AG, APTIV PLC, DENSO Corporation, FLIR Systems

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The European pedestrian detection system market has been segmented by geography.

Increasing Adoption of Pedestrian Detection Systems Resulting Decrease in Road Fatalities

Europe is a developed region and with the increase in a number of vehicle sales, more customers are opting for trending ADAS features in their vehicles, owing to the need for safety and comfort features. Initially, the majority of the consumers did not adopt these systems, due to the high cost and lack of awareness. However, with the new government regulations in place and the proven safety benefits, these systems have gained consumer interest. The ongoing installations are being done in both OEM and aftermarket, to facilitate end-users with ADAS features.

The European Commission has made it mandatory for all new cars to be equipped with safety equipment by 2021. The commission wants to fit all the 11 various ADAS features designed to prevent or mitigate accidents. The European Union anticipates that the addition of these 11 ADAS safety features will not just save over 7,000 lives across Europe, but is also likely to prevent 38,000 serious injuries between 2020 and 2030.

These 11 ADAS safety features include autonomous emergency braking, lane-keep assistance, and fatigue monitoring systems, etc., which are likely to be installed on every new car from 2021 under proposals. According to the European Commission, reduction in injuries caused by vehicle collisions would save the region approximately EUR 73 billion.

Over the last decade, the governments of European countries have become more strict toward road accidents and have mandated many new safety technologies in the vehicles, and they are still continuing their efforts. According to the latest reports of the Department For Transport (DFT), the number of fatalities has reduced significantly over the last decade. For instance; in 2010, the total number of fatalities was recorded to be 30,250, whereas 25,000 fatalities were recorded in 2018.

The growing demand for safety features in vehicles and the continuous efforts made by the European government are expected to drive the market for pedestrian detection system over the forecast period.

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With the presence of luxury car makers like Audi, BMW, Mercedes, etc. in the country, customers preference has shifted to vehicles with luxurious and advanced features from that of a conventional variant. These car manufacturers are focusing on the preferences of their elite customers for their new products.

Installation of new plants by OEM suppliers in the country will evolve the market for driver safety systems significantly over the forecast period. An increase in the number of new plants in Germany to hike the implementation of ADAS systems in cars will lower the cost incurred on importing the systems, thereby driving the market for ADAS systems. For instance; Denso, a major automotive supplier, has set up DENSO ADAS engineering services GmbH in Germany to enhance the development of safety technology in cars to curb the rate of road traffic accidents.

To reduce the number of accidents and fatalities, the department of transportation has made it compulsory to incorporate forward collision avoidance technology system in vehicles from 2017 onward. This system has the combination of long-range detection (e.g. adaptive cruise control), short range and wide angle system (e.g. pedestrian detection), and autonomous emergency braking. This regulation is anticipated to drive the market for pedestrian detection system in the country over the forecast period.

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-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: Europe Pedestrian Detection Systems Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.

The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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