Global Automotive Brake Override System Market 2019-2023
Global Automotive Brake Override System Market: About this market
Brake override systems utilize a fail-safe technology that detects simultaneous applications of brake pedal and accelerator pedal and overlooks the acceleration command to avoid an accident. Technavio’s automotive brake override system market analysis considers sales from both passenger cars and commercial vehicles. Our analysis also considers the sales of automotive brake override system in APAC, Europe, North America, South America, and MEA. In 2018, the passenger cars segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growing sales of passenger cars across the globe, coupled with voluntary adoption for brake override systems by OEMs will play a significant role in the passenger cars segment to maintain its market position. Also, our global automotive brake override system market report looks at factors such as increased adoption of brake override system by OEMs, increasing demand for battery electric vehicles (BEV), implementation of stringent safety norms. However, development of new generation advanced braking technologies, malfunctioning issues coupled with the limitation of technology, limited availability of brake override system in developing and lower-middle-income economies may hamper the growth of the automotive brake override system industry over the forecast period.
Global Automotive Brake Override System Market: Overview
Increasing demand for battery electric vehicles (BEV)
Government incentives and policies leading to decreased BEV cost are driving the adoption of BEVs across the globe. Moreover, the rising awareness of vehicle emission, rapidly expanding EV charging infrastructure, and emission-related obligation imposed by regulatory bodies are driving the global demand for EVs. The increasing sales volume for BEVs and the incorporation of brake override systems in BEVs are supporting the growth of the global automotive brake override system market. This increasing demand for battery electric vehicles (BEV) will lead to the expansion of the global automotive brake override system market at a CAGR of over 4% during the forecast period.
Advances in ADAS technology
ADAS technologies assist drivers with braking, steering, warning, and monitoring. Regulatory norms and adoption by OEMs primarily drive the demand for ADAS, and it is likely to increase further in the upcoming years. Continuous efforts taken in the field of R&D have led to the development of advanced sensors and technologically sophisticated systems, which have been enhancing the reliability of advanced electronic technologies. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global automotive brake override system market during the forecast period 2019-2023, click here.
With the presence of several major players, the global automotive brake override system market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive brake override system manufacturers, that include Ford Motor Co., Honda Motor Co. Ltd., Hyundai Motor Co., Nissan Motor Co. Ltd., and Toyota Motor Corp.
Also, the automotive brake override system market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Ford Motor Co., Honda Motor Co. Ltd., Hyundai Motor Co., Nissan Motor Co. Ltd., and Toyota Motor Corp.
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