The rising automation in the automotive market has led to a greater need for safety and security. Increasing focus on building a streamlined eco-system is making security more critical than ever before. As a result, the industry is investing heavily in developing innovative solutions to enhance their safety and reliability. In the wake of these trends, the automotive safety system market size was valued at $110.64 billion in 2021 and is projected to reach $234.73 billion by 2030, growing at a CAGR of 8.72 percent from 2023 to 2030.
Among the factors driving this market growth is the use of sensors to better identify risks. The demand for automotive sensors is increasing due to the growing popularity of vehicle automation and customers' increasing awareness of safety features. The adoption of fuel efficiency standards and stringent safety measures is driving the expansion of advanced systems that rely on sensors. The shift towards technical developments like electrification and autonomous driving is further increasing the demand for sensors.
To put the spotlight on such key developments in the industry, Auto Tech Outlook Europe illustrates how companies are leveraging the latest developments in automotive industry to enhance safety and security. The edition also features thought leadership articles from Gokhan Ozcagiran, Director of Information Technology, Bayraktar Grubu; Luigi Campagna, Functional Safety Corporate Manager, Eldor; and Franklin Zeng, Chief Information Officer, Geely; who shed light on various trends in the automotive safety and security industry, including key developments in cloud security, use of sensors, and sustainability.
In this edition of Auto Tech Outlook Europe, we also bring to you the story of the top automotive safety and security solution provider that delivers the best outcomes for its clients. ASC Sensors, a leading provider of cutting-edge inertial sensor solutions for the automotive industry. Their high-quality sensors enable accurate monitoring and analysis of driving dynamics, allowing for optimized vehicle design, increased driver comfort, and improved efficiency.
Through the following pages, we aim to shine a light on the innovative trends and latest developments in the automotive safety and security industry. We would like to know your thoughts.
