Sep 8, 2021   SOURCE: BusinessWire

Strategy Analytics: Automotive Safety Systems Market Growing to $81 Billion by 2028

The automotive safety domain will grow at a CAAGR (compound annual average growth rate) of almost 12% over the 2020 to 2025 timeframe with the market for vehicle safety systems forecast to reach $81 billion by 2028. The Strategy Analytics Powertrain, Body, Safety & Chassis Service (PBCS) Service report “Systems and Solutions Driving Growth in the Automotive Safety Domain” forecasts that rapid adoption of ADAS (Advanced Driver Assistance Systems) coupled with continued penetration growth of passive safety systems in emerging markets, and the inclusion of additional safety systems to meet safety mandates and ratings requirements will underpin this growth. This will translate to the automotive safety domain representing the second largest market for automotive semiconductors.

In addition to “safety” systems that are specifically incorporated into a vehicle to protect drivers and passengers as well as other road users, the increasing sophistication of the vehicle platform has also necessitated the introduction of “functional safety” to ensure that hardware and software system failures across the vehicle and the risk therein is mitigated as much as possible to ensure minimal damage when such failures do occur.

“Both the traditional safety domain as well as increasing functional safety requirements from other vehicle system domains will translate to a growing semiconductor opportunity,” noted Asif Anwar, report author and PBCS Service Director. “ADAS adoption driven by collision warning and other ADAS systems will be a core driver with the resultant semiconductor market forecast to grow by 247% over the 2020 to 2025 timeframe.”

Mr. Anwar added, “Furthermore, functional safety certification will serve as the lynchpin for the momentum behind electrification and ADAS/autonomy as well as the moves towards domain/zonal and centralized vehicle E/E architectures. Functional safety is thus increasingly becoming a differentiator that semiconductor companies such as Infineon, onsemi, NXP, Renesas, Rohm, STMicroelectronics, Texas Instruments etc., can leverage to expand exposure at existing customers as well as target new and emerging opportunities.”

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Source: Strategy Analytics, Inc.

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