The global smart seat belt technology market revenue was around US$ 20.5 billion in 2022 and is estimated to reach US$ 36.1 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2023 to 2031.
The smart seat belt technology uses a motor that retracts seat belt webbing in crucial conditions before a crash occurs. It can be triggered by sensors, such as radar, which offers the relative distance and speed to the vehicles ahead. The smart seat belt technology utilizes braking and stability control sensor data to sense a potential accident.
Market Driving Factors
The surge in consumer awareness toward automotive safety drives the market growth. Road accidents are a major issue for everyone in the world, especially while driving in congested traffic or inclement weather. For instance, according to The World Health Organisation estimates that 1.3 million people die in traffic accidents worldwide each year. Consumers' lifestyles have been busier in recent years, and unsafe driving practices including browsing the internet, sending texts, and talking on the phone while driving have been observed. These practices ultimately cause car accidents.
In addition, governments around the world are focusing more on enacting legislation that requires the development and inclusion of safety systems integrated with sensor systems and cameras in the automobile to improve overall vehicle safety and minimize the number of collisions. As a result, this will increase the demand for seat belt technology.
An increase in automotive safety norms boosts market growth. Vehicle safety plays an important role in preventing the crash or lowering the impact. Therefore, vehicles equipped with such safety standards are slightly likely to generate substantial damage to the occupants.
Furthermore, the automotive sector is at its tipping point with increased urbanization, ever-evolving developments of automotive advancements, customer demand for connectivity, and the transition of vehicles to electric vehicles. As a result, the automotive industry is set to alter with changing market dynamics and improved safety norms.
The expensive cost of installing safety applications in automobiles will limit the market growth.
Regional Analysis
Asia Pacific dominates the market over the forecast period. This is due to the well-established automobile sector in developing nations such as India and China. Additionally, the increasing investments of market leaders and their strategic alliances are anticipated to drive market growth in the region.
Segmentation Insights
Sales Channel Insight
The original equipment manufacturer segment dominates the market. This is because there has been a significant increase in the development of technology that could reduce the number of fatalities caused by automobile accidents. As a result, it increased attention on passenger safety. Original equipment manufacturers have reinvented several safety-related technologies to make their products more reliable.
Vehicle Type Insight
The passenger vehicles segment dominates the market. The number of passenger vehicles is rising at a considerable rate in developing economies. This is due to enhanced lifestyles, higher consumer spending power, and infrastructure expansion. Most countries require airbags and seatbelts as mandatory equipment in passenger cars to reduce the number of fatalities from accidents.
Prominent Companies
Segmentation Outline
The global smart seat belt technology market segmentation focuses on Type, Sales Channel, Vehicle Type, Propulsion, and Region.
By Type
By Sales Channel
By Vehicle Type
By Propulsion
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL SMART SEAT BELT TECHNOLOGY MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: SMART SEAT BELT TECHNOLOGY MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL SMART SEAT BELT TECHNOLOGY MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL SMART SEAT BELT TECHNOLOGY MARKET, BY TYPE
5.1 OVERVIEW
5.2 ACTIVE BUCKLE LIFTER
5.3 ACTIVE SEAT BELT
5.4 INTELLIGENT IGNITION SYSTEM
5.5 ATTENTION RETENTION SYSTEM (ARS)
6 GLOBAL SMART SEAT BELT TECHNOLOGY MARKET, BY SALES CHANNEL
6.1 OVERVIEW
6.2 ORIGINAL EQUIPMENT MANUFACTURER
6.3 AFTERMARKET
7 GLOBAL SMART SEAT BELT TECHNOLOGY MARKET, BY VEHICLE TYPE
7.1 OVERVIEW
7.2 PASSENGER VEHICLES
7.3 LIGHT COMMERCIAL VEHICLES
7.4 HEAVY COMMERCIAL VEHICLES
8 GLOBAL SMART SEAT BELT TECHNOLOGY MARKET, BY PROPULSION
8.1 OVERVIEW
8.2 ICE
8.3 ELECTRIC AND HYBRID
8.4 ALTERNATE FUEL VEHICLE
9 GLOBAL SMART SEAT BELT TECHNOLOGY MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL SMART SEAT BELT TECHNOLOGY MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 ASHIMORI INDUSTRY CO LTD
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 DENSO CORPORATION
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 JOYSON SAFETY SYSTEMS
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 YANFENG
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 FAR EUROPE INC
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 HYUNDAI MOBIS
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 TOKAIRIKA CO LTD
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8. CONTINENTAL AG
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 FINDREAMS
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 GWR
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.11 ITW SAFETY
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.12 SAMSUNG
11.12.1 OVERVIEW
11.12.2 FINANCIAL PERFORMANCE
11.12.3 PRODUCT OUTLOOK
11.12.4 KEY DEVELOPMENTS
11.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.13 ZF FRIEDRICHSHAFEN AG
11.13.1 OVERVIEW
11.13.2 FINANCIAL PERFORMANCE
11.13.3 PRODUCT OUTLOOK
11.13.4 KEY DEVELOPMENTS
11.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.14 AUTOLIV INC
11.14.1 OVERVIEW
11.14.2 FINANCIAL PERFORMANCE
11.14.3 PRODUCT OUTLOOK
11.14.4 KEY DEVELOPMENTS
11.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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