What is Automotive Electronic Stability Program Market?
Electronic Stability Control (ESC) is nothing more than a computer-controlled technology to improve the stability of a vehicle by detecting and reducing traction or slip losses. The ESC system is designed to help drivers avoid the risk of accidents. ESC works in the background for normal driving and continuously checks the steering and vehicle direction. It continuously compares the direction intended by the driver with the actual direction of the vehicle. If ESC detects a loss of traction or steering control, the brakes are automatically applied or the engine power is reduced until the vehicle is safely back on the intended lane. A number of intelligent sensors are integrated into the ESC system for this purpose. Automobile Electronic stability control is an essential aspect of the safety system. These safety systems are intended to record the condition of the vehicle and prevent vehicle accidents or minimize their effects. The electronic stability control for motor vehicles is used to protect the vehicle from skidding or loss of control and to reduce the risk of accidents. This system enables the vehicle to maintain strong contact with the road. The system starts working when the driver loses control of the vehicle. The system brakes and allows the vehicle to stop at a shorter distance and reduces the likelihood of an accident. The sensors are built into the system that detects the condition of the vehicle and applies brakes to reduce the risk of slipping and return the vehicle to normal mode. Electronic stability control for motor vehicles is a computer-aided application that, in addition to sensors such as the speed sensor, contains various other components such as valves, pumps, and controls. This system has become a very important part of the majority of automobile manufacturers.
Highlights from Automotive Electronic Stability Program Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Continental (Germany), EDAG Engineering (Germany), Robert Bosch (Germany), Bosch (Germany), IAV (Germany), ZF (Germany), WABCO (United States), Hitachi (Japan), Bertrandt (Germany) and Delphi (United Kingdom) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that European Vendors will contribute to the maximum growth of Global Automotive Electronic Stability Program market throughout the forecasted period.
Continental (Germany), EDAG Engineering (Germany), Robert Bosch (Germany), Bosch (Germany), IAV (Germany), ZF (Germany), WABCO (United States), Hitachi (Japan), Bertrandt (Germany) and Delphi (United Kingdom) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Denso (Japan), Aisin (Japan) and AVL (Austria). Automotive Electronic Stability Program Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles |
Type | Electrical Brake Distribution, Anti-lock Brake System, Traction Control System and Vehicle Dynamic Control |
Components | Hydraulic Control Unit,Sensors,Electronic Control Unit (ECU) |
Sales Channel | OEM,Aftermarket |
On the basis of geography, the market of Automotive Electronic Stability Program has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Development of Autonomous Vehicles
Market Growth Drivers:
Increasing Vehicle Digitization and Electrification and Rising Demand for Vehicle Connectivity Solutions
Challenges:
Increasing Cost Pressure on OEMs
Restraints:
The Increasing Trend of Reliability and Dependency of the Customers for the Electronic Components
Opportunities:
Increased Advancement in Technology
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Providers of Automotive Electronic Stability Program, Venture Capitalists and Private Equity Firms and End-Use Industry
Market Leaders & Development Strategies
In October 2017, WABCO had launched its electronic stability control systems for commercial vehicles in India.