IMARC Group, a leading market research company, has recently releases report titled “Electronic Stability Control System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global electronic stability control system market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the electronic stability control system market?
Market Size in 2022
US$ 39.5 Billion
Market Forecast in 2028
US$ 63.8 Billion
Growth rate (2023 to 2028)
CAGR of 8.10%
Base Year of the Analysis
What is electronic stability control system?
Electronic Stability Control (ESC), also known as Electronic Stability Program (ESP), is a sophisticated electronic system designed to enhance vehicle stability and control, thereby preventing accidents. ESC is an advancement of antilock braking technology, comprising individual brakes for each wheel and a speed sensor. It employs a combination of sensors, microprocessors, and actuators to maintain the vehicle's stability and prevent it from skidding, sliding, or losing control or traction in various driving conditions. It relies on several sensors, such as yaw rate sensors, wheel speed sensors, and steering angle sensors, to collect data, which is furtherprocessed by microprocessors and compared to predetermined parameters. It provides a means of managing unforeseeable road and traffic circumstances to prevent vehicle collisions.
The system works by evaluating the driver's input against the current driving conditions, identifying any road deviations, and then applying the appropriate amount of braking force in a precise manner to prevent the vehicle from oversteering or understeering. It responds within milliseconds to vehicle movement changes by making real-time corrections using actuators such as brakes and engine control. Since it offers numerous benefits, including improved safety, reduced insurance costs, and higher vehicle resale value, the electronic stability control system is gaining immense traction across the globe.
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What are the growth prospects and trends in the electronic stability control system?
The global electronic stability control system market is primarily driven by the rising consumer awareness about vehicle safety due to the increasing cases of fatal road accidents and vehicle failures. Moreover, the surging adoption of ESC systems owing to the escalating demand for active safety systems that employ predictive analytics to detect and respond to potential hazards is positively influencing the market growth. Apart from this, several favorable initiatives taken by governments of numerous countries, including mandating the integration of ESC systems in passenger cars and light commercial vehicles, have catalyzed market growth. Additionally, the rising installation of ESC systems due to continuous advancements in manufacturing automotive sensors, electronics, and software components is propelling the market growth.
Besides this, the rapid expansion of the automotive industry and the increasing popularity of advanced driver assistance systems (ADAS) are other major growth-inducing factors. Along with this, the rising concerns regarding pedestrian safety, coupled with the emerging trend of vehicle electrification and the escalating sales of premium and luxury cars, are contributing to the market growth. Other factors, including ongoing research and development (R&D) activities by key players, rapid urbanization and industrialization, rising consumer disposable incomes, and the provision of lucrative subsidies and incentives by governments on EV purchases, are also anticipated to create a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
- Hydraulic Control Unit
- Electronic Control Unit (ECU)
Vehicle Type Insights:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Breakup by Geography:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Aisin Corporation
- Continental AG
- Murata Manufacturing Co. Ltd.
- Robert Bosch GmbH
- ZF Friedrichshafen AG
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