Rules regarding deployment of ESC system vary across the nations. Canada has made it mandatory to have ESC system for all new passenger vehicles made from September 2011. Soon, Australian government followed the suits. European parliament has mandated ESC system for all commercial vehicles sold in European Union (EU) from 2012. Moreover, the United Nations Economic Commission for Europe has passed a Global Technical Regulation to harmonize ESC standards.
According to the report, Emphasizing on Autonomous in Automotive Industries Coupled with Introduction of V2x (Vehicle to Everything) Technology is one of the primary growth factors for the market. Growing Focus Towards Safety Amid Increasing Number of Road Accidents
is also expected to contribute significantly to the Automotive Electronic Stability Control Systems market. Overall, applications of Automotive Electronic Stability Control Systems, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Vehicle type, such as Commercial Vehicles (Light Commercial Vehicles and Heavy Commercial Vehicles), is boosting the Automotive Electronic Stability Control Systems market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Automotive Electronic Stability Control Systems market identified that the demand is rising in many different parts of the world as "Stringent Government Regulations Regarding Road Safety in Emerging Countries
". Furthermore, some recent industry insights like "Recently in January 2019, Japanese automotive parts manufacturing company Hitachi Automotive Systems developed a technology to precisely detect the irregularities on the road surfaces. The company plans to develop drive control system by combining this technology with vehicle's suspension technology to provide vehicle stability with regards to road surface." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Automotive Electronic Stability Control Systems market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Automotive Electronic Stability Control Systems market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall market size is calculated using market estimation process, the market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the market size has been validated using both top-down and bottom-up approaches.