PORTLAND, Ore., Sept. 15, 2022 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, Smart seat belt technology market It is estimated at $19.3 billion in 2021 and is expected to reach $36.8 billion by 2031, at a CAGR of 6.5% from 2022 to 2031. The report provides an in-depth analysis of top investment pockets, top winning strategies, drivers and opportunities, and market size. and estimates, the competitive landscape, and evolving market trends. Market research is a useful source of information for frontrunners, new entrants, investors, and shareholders to create future strategies and enhance their market position. This report is intended solely to enable the reader to make a comprehensive assessment of industry analysis and trends.
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smart seat belt technology industry Report coverage and details:
| report coverage | detail | |
| Forecast period | 2022–2031 | |
| base year | 2021 | |
| Market size in 2021 | $19.3 billion | |
| Market size in 2031 | $36.8 billion | |
| CAGR | 6.5% | |
| number of pages in the report | 380 | |
| Target segment | type, sales channel, vehicle type, propulsion, and region. | |
| driver | Growing consumer awareness of car safety and increasing traffic accidents | |
| Restraint | High initial costs and software failures associated with automotive sensors | |
| chance | A surge in vehicle safety standards | Rising car production in developing countries |
Covid-19 scenario–
- The sales and after-sales service of the automotive industry have been severely hit by the pandemic, and the increased adoption of cost-cutting measures by auto companies, such as cutting operating costs and labor force worldwide, has had a global impact. Smart seat belt technology market negatively.
- However, as vehicle manufacturing and sales operations returned to normal, the global market for smart belt technology began to recover rapidly.
The global smart seat belt technology market is analyzed across type, sales channel, vehicle type, driving force, and region. The report incorporates an in-depth analysis of the segment and its subsegments using tabular and graphical representations. Investors and market participants can benefit from breakdowns and devised strategies based on the highest revenue generating and fastest growing segments mentioned in the report.
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Based on type, the active seat belt segment will contribute nearly three-quarters of the global smart seat belt market revenue in 2021 and is expected to dominate by 2031. On the other hand, the attention-retention system (ARS) segment recorded the fastest HIS CAGR of 12.0% over the forecast period.
Based on sales channel, the OEM segment will account for almost two-fifths of total market revenue in 2021 and is expected to dominate by 2031. At the same time, the aftermarket segment names the fastest CAGR of 9.7% over the forecast period. .
Based on vehicle type, the passenger car segment is expected to account for nearly three-fifths of total market revenue in 2021 and dominate by 2031. The heavy commercial vehicle segment simultaneously names the fastest he CAGR of 7.3% over the forecast period. .
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Based on region, the market across Europe is expected to generate about one-third of the total market revenue in 2021 and maintain the largest share by 2031. The same region will also exhibit the fastest CAGR of 7.4% during the forecast period. Other regions explored in the report include North America, LAMEA, and Asia Pacific.
Major market players analyzed in the Global Smart Seat Belt Technology Market report include Far Europe Inc., GWR Safety Systems, HYUNDAI MOBIS, ITW Safety, Joyson Safety Systems, TOKAIRIKA, CO, LTD, ZF Friedrichshafen AG, DENSO CORPORATION , which includes Autoliv Inc. , Ashimori Industry; Co., Ltd, Yanfeng, Samsung, GWR, FinDreams (BYD), and CONTINENTAL AG. These market players have adopted several strategies including partnerships, expansions, collaborations, joint ventures, etc. to highlight their prominence in the industry. This report helps formulate business performance, product portfolio, operating segments and developments by top players.
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A similar report on the seat belt industry:
Active seat belt system market By Component (Retractors, Pretensioners, Buckle Lifters), By Application (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), By Sales Channels (OEM, Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020-2030 .
seat belt retractor market By type (belt-in-seat, 6-point belt, 5-point belt, 4-point belt, 3-point belt, 2-point belt), by technology (emergency locking retractor, self-locking retractor, switchable retractors), by seat (front and rear), and by vehicle type (passenger cars, commercial vehicles, electric vehicles): Global opportunity analysis and industry forecasts, 2020-2030.
Automotive safety system market By Type (Active vs. Passive Safety Systems) and Application (Internal Combustion Engine (ICE) Vehicles, Electric Vehicles, etc.): Global Opportunity Analysis and Industry Forecast 2021-2030.
Automotive safety electronics market Components (electronic control units, sensors, energized devices, etc.), sales channels (original equipment manufacturers (OEM), and aftermarket), and applications (ADAS, infotainment, body electronics, safety systems, and powertrain electronics) Per: Global Opportunity Analysis and Industry Forecasts, 2021-2031.
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