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.
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
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Sales and aftersales services of the automotive industry were severely impacted by the pandemic, leading to an increase in the adoption of cost-cutting measures by automotive companies, such as reducing operational costs and workforce across the globe, which had a negative impact on the global market for smart seat belt technology.
However, as the automotive manufacturing and sales operations got back to normalcy, the global market for smart belt technology also started restoring at a quick pace.
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. It is divided into passenger vehicles, light commercial vehicles, and heavy commercial vehicles based on vehicle type. By propulsion, the market is divided into ICE, electric & hybrid, and alternate fuel vehicle. The market is analyzed regionally, including North America, Europe, Asia-Pacific, and LAMEA.
KEY FINDINGS OF THE STUDY
Throughout the projection period, the type-based attention retention system (ARS) segment is anticipated to have considerable expansion.
By sales channel, it is anticipated that the aftermarket segment will lead the global smart seat belt technology market.
By vehicle type, the segment for heavy commercial vehicles is anticipated to lead the global market for smart seat belt technology.
The electric & hybrid segment is expected to lead the global smart seat belt technology market in terms of propulsion.
Region-wise, Europe is predicted to post the greatest CAGR throughout the projection period.
The key players that operate in this smart seat belt technology market 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