Advancements in automotive electronics directly depend on the development of advanced sensor systems. Automotive manufacturers have been striving to build collision detection and avoidance systems by implementing technologies such as OSS and WPS for enhancing vehicle dynamic controls. Increasing safety concerns, affordability, stringent safety norms and growing concern of consumer for automotive safety technologies are the major factors driving demand for these systems. Growing vehicle sales on the account of increasing demand for luxury or premium cars is expected to provide sustainable growth in the automotive OSS and WPS market. Other applications of automotive OSS include airplanes, light commercial vehicles and heavy commercial vehicles. These automotive passive safety systems have evolved due to stringent government regulations such as frequently updated rating system of organizations including New Car Assessment Program (NCAP).
Increasing demand in Asia Pacific and European regions, mainly in Japan, India and China is expected to drive automotive OSS and WPS market growth. This can be attributed to increase in safety regulations, growing GDP rate, high living standards and increase in purchasing power. Rising disposable income level in Asia Pacific market has influenced individuals to invest in safety features within the vehicles. This has led to rise in competition level in the automotive OSS and WPS market. The United States Car Assessment Program (US NCAP) is expected to adjust its rating systems in order to improve the safety features in U.S. vehicles. This may encourage manufacturers to produce vehicles exceeding the minimal federal safety requirements. Europe, on the other hand, is expected to witness stable growth over the forecast period.
Key industry participants include Lear Corporation, Grammer AG, Key Safety Systems Inc, Hyundai Mobis, TRW Automotive, Takata Corporation, Autoliv Inc, Delphi Automotive PLC, Continental AG, Robert Bosch GmbH and Magna International.
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