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South Korean Active and Passive Safety Systems Market
Frost & Sullivan, Aug 2008, Pages: 198
This study covers in details the Korean market for active and passive safety systems. The study deals with Market Drivers, Restraints, Challenges for different products in active and passive systems market. Market Breakdown, Unit shipments, revenue forecasts for different active and passive systems are dealt in detail in this study. Profiles of Vehicle Manufacturers and Safety system suppliers are also covered in this study.
South Korean Safety Systems Market Gearing Up for a Spate of Product Launches
South Korea is home to leading vehicle brands such as Hyundai, Kia, Daewoo, and Ssangyong and is among the top six vehicle manufacturing countries in the world. With a vehicle population of nearly 6.0 million in 2006 and one of the highest rates of traffic accidents, South Korea appears to be a happy hunting ground for active and passive safety system companies. 'Car owners in South Korea are becoming increasingly aware of the importance of vehicle safety and recognizing the role of safety systems in promoting an accident-free driving experience,' says the analyst of this research. 'Although passive safety systems have higher awareness and penetration than active safety systems, the latter is expected to experience increased penetration as passenger car owners as well as vehicle manufacturers (VMs) realize the importance of accident prevention.'
Meanwhile, the government’s implementation of safety standards has unlocked numerous prospects for safety system developers, with system suppliers and original equipment manufacturers (OEMs) making haste to cash in on the opportunities by launching a host of safety products. For instance, field of view assistance systems such as adaptive front lighting systems and night view systems are expected to be introduced in South Korean vehicles by 2008-2009, while driver drowsiness warning system and adaptive cruise control systems are likely to make their market entry by 2011. 'In 2008-2009, VMs are also expected to launch pre-crash safety systems (intelligent airbag systems and intelligent live by wire sash control systems) with pre-crash sensing technologies that play a significant role both before and after the crash,' notes the analyst. 'These systems integrate the features of both active and passive safety systems.'
Despite this impressive array of products, market participants will be hard pressed to increase their penetration rates due to the high costs of production. In South Korea, the core technology for safety systems such as control system, sensors, and vision systems is mostly imported. This hikes the development and production costs of vehicle safety systems and restricts their adoption to the top-end consumer segment. Seeing that the future of automotive safety lies in sensors, South Korean safety system manufacturers will do well to focus their R&D efforts on domestically developing accurate sensor technology. This will ensure reduced production costs, which will translate to affordable systems and wider market penetration
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