Revolutionizing Safety: Smart Seat Belt Technology Industry
Smart seat belt technology market to reach $36.81 billion in 2031 | Size, Research, Share 2031
WILMINGTON, DELAWARE, UNITED STATES, October 31, 2023 /EINPresswire.com/ — The smart seat belt technology utilizes a motor that retracts seat belt webbing in critical situations before a crash occurs. It can be triggered by sensors, such as radar, which provides the relative speed and distance to the vehicles ahead. The smart seat belt technology uses braking and stability control sensor information to sense a potential accident. It reacts by securing the driver and passenger seat belts by removing seat belt slack so the occupant’s position on the seat is improved in advance of an impending crash.
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Governments worldwide are increasingly focusing on implementing regulations that demand the development and incorporation of safety systems integrated with sensor systems and cameras in automobiles to improve the overall safety of vehicles & passengers. In India, according to Bharat New Vehicle Safety Assessment Program (BNVSAP) program, from April 2021, front passenger airbags have become mandatory for every vehicle sold in India, driver and co-driver seat belt alarms must be active till the seats are occupied, and speed warning systems are activated at two levels; at the vehicle exceeding the speed of 80km/hr and 120km/hr. Thus, increase in automotive safety norms, rise in consumer awareness toward automotive safety, and high demand for luxury vehicles foster the smart seat belt technology market in the forecast period
According to a new report published by Allied Market Research, titled, “Smart Seat Belt Technology Market,” The smart seat belt technology market size was valued at $19.3 billion in 2021, and is estimated to reach $36.8 billion by 2031, growing at a CAGR of 6.5% from 2022 to 2031.
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Europe is expected to dominate the market in terms of revenue, followed by North America, Asia-Pacific and LAMEA. The increasing demand for vehicles with advanced safety application is driving the growth of smart seat belt technology market in the region.
The smart seat belt technology market is segmented on the basis of type, sales channel, vehicle type, propulsion, and region. By type, it is divided into active buckle lifter, active seat belt, intelligent ignition system, and attention retention system (ARS). On the basis of sales channel, it is segmented into original equipment manufacturer, and aftermarket. By vehicle type, it is divided into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. By propulsion, the market is divided into ICE, electric & hybrid, and alternate fuel vehicle. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in this smart seat belt technology market report are Autoliv Inc., Ashimori Industry Co., Ltd, BYD Company Ltd., Continental AG, DENSO Corporation, Far Europe Inc., GWR Safety Systems, Hyundai Mobis, ITW Safety, JOYSON, TOKAIRIKA, CO, LTD., Yanfeng, and ZF Friedrichshafen AG
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– By type, the attention retention system (ARS) segment is expected to register a significant growth during the forecast period.
– By sales channel, the aftermarket segment is projected to lead the global smart seat belt technology market.
– By vehicle type, the heavy commercial vehicles segment is projected to lead the global smart seat belt technology market.
– By propulsion, the electric & hybrid segment is projected to lead the global smart seat belt technology market.
– Region-wise, Europe is anticipated to register the highest CAGR during the forecast period.
David Correa
Allied Analytics LLP
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