CAGR: 14.5%Current Market Size: USD 10066.90 MillionFastest Growing Region: North America
Largest Market: EuropeProjection Time: 2023-2030Base Year: 2022
The Global Pedestrian Protection System market is expected to grow from USD 10066.90 million in 2022 to USD 29739.9 million by 2030, at a CAGR of 14.5% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the increasing demand for vehicle tracking hardware and management software to manage and fulfil the continuous supply of essentials
Pedestrian protection systems make use of sensors, cameras, and control units to detect when vehicles are about to collide with pedestrians. As part of the pedestrian protection system, sensors are used to detect pedestrian collisions, and the airbag control unit acts to raise the engine hood in case of a collision with a pedestrian. In addition to responding to pedestrians, enhanced systems also address bicyclists and other road users, which leads to an increase in pedestrian protection-based solutions worldwide. Furthermore, market growth for pedestrian protection systems is driven by the changing preferences of consumers towards enhancing their driving experiences and increasing the demand for high-end cars. The increased number of vehicles on the roads is creating heavy traffic and leaving less space for pedestrians to walk, due to which pedestrians face difficulty in walking freely on the roads, especially during road crossings, triggers the need for protection systems in the vehicles to avoid any kind of mishappening on the road. A study by the World Health Organization shows that about 1.3 million people are killed by road traffic crashes every year, and more than half of them are pedestrians, which is triggering the demand for pedestrian protection systems in vehicles to reduce the possibility of accidents.
Sample Request: - Global Pedestrian Protection System Market
Market Dynamics:
Drivers:
The accident cases are rising day by day, which is triggering the pedestrian protection system market to develop more protection systems with enhanced features for the safety of pedestrians. In addition, it had been observed that the installation of pedestrian protection systems in vehicles is showing positive results. The sensors, control unit, actuators etc. are part of the protection system which prevents the collision of the vehicle with the pedestrians. Major key players are continuously working on these systems to make them more acceptable among consumers and efficient.
Restraints:
Pedestrian protection systems are proven to be beneficial to reduce the number of road accident cases which are positively impacting the growth of the market but on the other hand, there are some factors which are hampering the growth of the market such as high installation cost of the airbags and sensors. The high installation cost of the components of pedestrian protection systems is restricting the growth of the market due to affordability reasons.
Opportunities:
Global pedestrian protection system market growth is primarily due to the rising adoption of collision control systems, increasing road accident cases, and advanced emergency braking systems. Moreover, pedestrian protection systems also offer enhanced vehicle visibility and safety. In addition, stringent rules imposed by the government for the safety of drivers as well as pedestrians are also opening new opportunities for the pedestrian protection system market. Growing sales of automobiles globally are the major factor that accounts for the growth of the market.
Challenges:
Poor weather conditions and low light make pedestrian protection systems ineffective in bad weather conditions. Vision-based pedestrian protection systems perform poorly in such circumstances which makes it difficult for the driver to drive even though the pedestrian protection system is installed in the vehicle, which is affecting the demand for pedestrian protection systems up to some extent and affecting the growth of the market.
Segmentation Analysis:
The global pedestrian protection system market has been segmented based on type, application, and region.
By Type
The type segment includes passive pedestrian protection systems and active pedestrian protection systems. The passive pedestrian protection systems segment led the largest share of the pedestrian protection system market with a market share of around 57.2% in 2022. In the market growth, passive pedestrian protection systems account for the major share due to their active features such as external airbags and pop-up bonnets. These features get activated during a frontal collision with pedestrians
By Component
The application segment includes the control unit, cameras, sensors, actuator and others. The sensors segment led the largest share of the pedestrian protection system market with a market share of around 28.5% in 2022. Vehicles fitted with pedestrian detection systems use advanced computer sensors to detect people within their vicinity. The car’s sensors detect the person and apply the emergency brake automatically to stop the vehicle, due to which the sensors are in high demand.
By Distribution Channel
The type segment includes aftermarket and OEM. The OEM segment led the largest share of the pedestrian protection system market with a market share of around 59.8% in 2022. A large number of manufacturers and suppliers contribute to the dominance of OEMs in the pedestrian protection system market. Furthermore, the rapid growth in the sale and production of automobiles together with the increasing demand for maximum utility capacity will likely contribute to the growth of pedestrian protection systems.
Global Pedestrian Protection System Market- Sales Analysis.
The sale of pedestrian protection systems expanded at a CAGR of 10% from 2016 to 202.2
The growing demand for high-end cars and changing consumer preferences are also boosting the market for pedestrian protection systems.
Global pedestrian protection system market growth is being driven largely by factors such as the increasing number of collision control systems, road accident cases and the demand for enhanced vehicle visibility and safety.
In addition to improved visibility, there is a growing demand for safety features such as lane departure warnings, electronic stability control, etc. which are positively impacting the growth of the market.
Additionally, market growth is expected to be driven by constant technological innovation and government initiatives.
Thus, owing to the aforementioned factors, the global pedestrian protection system market is expected to grow at a CAGR of 14.5% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the pedestrian protection system market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The European region dominated the pedestrian protection system market and held a 39.6% share of the market revenue in 2022.
Global Pedestrian Protection System Market- Country Analysis:
Germany's pedestrian protection system market size was valued at USD 1235.8 million in 2022 and is expected to reach USD 3728.06 million by 2030, at a CAGR of 14.8% from 2023 to 2030. Growing vehicle production in the country and the presence of automobile manufacturers are significantly driving the market's growth.
China’s pedestrian protection system market size was valued at USD 629.17 million in 2022 and is expected to reach USD 1871.7 million by 2030, at a CAGR of 14.6% from 2023 to 2030.
Rapid urbanization in the country and rising awareness about the installation of pedestrian protection systems in vehicles to reduce the chances of road accidents are boosting the growth of the market.
India's pedestrian protection system market size was valued at USD 503.34 million in 2022 and is expected to reach USD 1508.06 million by 2030, at a CAGR of 14.7% from 2023 to 2030. Automobile sales with advanced safety solutions will increase as a result of increasing disposable incomes in the country's middle class, propelling the growth of the market.
Key Industry Players Analysis:
To increase their market position in the global pedestrian protection system business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
14.5% |
Market Size |
10066.90 million in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Type, By Component, By Distribution Channel, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Audi AG, AV Vo, Continental AG, Toyota Motor Corporation, Subaru Corporation, Magna International Inc., General Motors, DENSO CORPORATION, Valeo, Magneti Marelli SpA., Aptiv PLC, Robert Bosch GmbH, ZF Friedrichshafen AG, Nissan Motor Company Ltd., and ZF. |
By Type |
|
By Component |
|
By Distribution Channel |
|
Regional scope |
|
Scope of the Report
Global Pedestrian Protection System Market by Type:
Global Pedestrian Protection System Market by Component:
Global Pedestrian Protection System Market by Distribution Channel:
Global Pedestrian Protection System Market by Region:
Global Pedestrian Protection System market is expected to reach 29739.9 million by 2030, at a CAGR of 14.5% from 2023 to 2030.
Technological advancements to enhance the functioning of the systems and rising awareness for advanced safety features will propel the market's growth.
European region will witness more growth in the pedestrian protection system market.
Audi AG, AV Vo, Continental AG, Toyota Motor Corporation, Subaru Corporation, Magna International Inc., General Motors, DENSO CORPORATION, Valeo, Magneti Marelli SpA., Aptiv PLC, Robert Bosch GmbH, ZF Friedrichshafen AG, Nissan Motor Company Ltd, ZF among others.
Political Factors- Market needs political stability because it affects investor and customer trust, which has a significant impact on the economy. High levels of political unrest have detrimental effects on consumer spending, company investment, and economic expansion. Currently, internal and foreign conflicts are causing some political instability in the region where The pedestrian protection system market is operating actively. The corporation may be unable to meet its growth goals if management is unable to comprehend and manage the current political uncertainty, and they may be unwilling to invest in fresh capital.
Economical Factors- When deciding whether to expand internationally, the pedestrian protection system market should consider the economic growth rates of the various nations. More options to achieve long-term growth goals exist in nations with strong economic growth rates. Consumer spending becomes more conservative in times of poor economic development, which has a direct impact on The pedestrian protection system market revenue growth. The pedestrian protection system market revenue growth may be negatively impacted by the growing inflation rate since it reduces the buying power of money and deters consumers from spending on products and services.
Social Factors- Respect for hierarchy and social class stratification are two significant social elements that can have an impact on The pedestrian protection system market commercial, marketing, and human resource management initiatives. When entering nations with a high power distance, The pedestrian protection system market does best with a hierarchical organisation and formal work culture. As The pedestrian protection system market cannot target various sectors from different social classes with the same marketing mix, increased social stratification also points to the necessity for efficient market segmentation techniques.
Technological Factors- The pedestrian protection system market should choose nations with advanced technology infrastructure since these nations make it simpler for businesses to pursue goals like cost reduction, innovation, and value creation. The pedestrian protection system market will find it more difficult to get a durable competitive edge from technology since it might be easily copied by rivals, according to well-developed technical infrastructure.
Environmental Factors- Businesses are under pressure to lessen environmental impact due to strict environmental legislation in many different nations. In response, The pedestrian protection system market should adopt ethical production methods, promote ethical consumption among its target market, work to enhance its brand's sustainability reputation, and ensure full compliance with environmental laws on a national and local level. Failure to do so risks receiving serious, reputation-damaging criticism from relevant stakeholders.
Legal Factors-Numerous federal and state regulations are in place in several nations to safeguard consumers against possible commercial exploitation. The regulations have tightened up much more in the age of information technology to protect consumer privacy. The pedestrian protection system market must scrupulously abide by the data privacy requirements while doing online transactions in order to prevent litigation. The pedestrian protection system market must research local regulations regarding returns, discounts, credit terms, quality, deceptive advertising, and maximum price before entering new markets (particularly in the case of basic essential goods).
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