London, 22 January 2015: TechNavio, the independent tech-focused global research firm, has published a report on the ESC Market in Europe 2015-2019, which is expected to grow at a CAGR of 4.22 percent during the forecast period of 2014-2019.
The ESC market in Europe is rapidly growing because of the ability of ESC systems to control fatal accidents. An ESC system assists drivers in avoiding accidents by minimizing the possibility of skidding or losing control because of over-steering. Moreover, government legislations have made it mandatory to install such systems in all upcoming models of passenger cars and LCVs. This has boosted the ESC market, and the market has grown rapidly in the past few years.
“The electronic components of ESC systems improve vehicle safety by detecting loss of steering control and by automatically applying the brakes,” says Faisal Ghaus, Vice President of TechNavio.
“Importance of electrical and electronic systems has increased in the recent past and with this the number of sensors used in vehicles to monitor temperature, gas emission, voltage, current, vacuum, and torque has also increased.”
Key Market Drivers
- Increased Adoption of Active Safety Systems
- Rise in Resale Value of Vehicles
- Government Laws
Key Market Trends
- Increased Dependence on Electronic Components
- Rise in Demand for Luxury Cars
- Increase in Consumer Awareness
Key Market Vendors
- Bosch Group
- Continental AG
- Delphi Automotive plc
- Denso Corp.
- TRW Automotive Holdings Corp.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
