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Automotive Seat Belt Reminder Market: Top Companies, Sales, Revenue, Forecast and Detailed Analysis

Press Release

An automotive seat belt reminder is a safety equipment in automobiles, which detects and monitors whether the seat belts are in practice in seating positions of the vehicle. The automotive seat belt reminder is an intelligent, audible and visual device that transmits progressively urgent and conspicuous warning signals until the seat belts are fastened. The device is becoming increasingly intelligent due to continuous development by auto manufacturers and OEMs to cater to new and better seat belts in order to offer higher level of protection.

The automotive seat belt remains the single-most effective safety equipment in any vehicle, both for front and rear-seat occupants. However, reluctance to use their seat belts can result in severe and fatal injuries in case of road accidents. This is projected to accentuate the demand forĀ automotive seat belt reminder, as it provides visual and audible warnings to fasten the seat belt, which in turn reduces the injuries occurring in case of a vehicle collision. This, in turn, is projected to boost the automotive seat belt reminder market during the forecast period.

Increase in vehicle production across the globe coupled with a rise in the demand for vehicle safety is another key factor that is projected to boost the automotive seat belt reminder market during the forecast period. The European Commission, supported by the European Transport Safety Council (ETSC) in 2006 included the automotive seat belt reminder in its road safety program. Policies and programs like this, around the world, have boosted the rate of adoption of seat belt reminder in automotive. However, lower rate of adoption in mainstream hatchbacks and mini cars is anticipated to hamper the automotive seat belt reminder market during the forecast period.

The automotive seat belt reminder market can be segmented based on type, seat type, vehicle type, sales channel, and region. Based on type, the automotive seat belt reminder market can be split into mobile based and vehicle dashboard based. Mobile based is an app-based automotive seat belt reminder paired with smartphone via Bluetooth, which alerts the passenger to fasten the seat belt.

Based on seat type, the automotive seat belt reminder market can be classified into front and rear. The front segment leads the automotive seat belt reminder market primarily due to higher rate of adoption by drivers or passengers occupying on the front seat due to safety concerns supplemented with stringent norms in a majority of the countries for drivers to fasten seat belts. The segment is projected to maintain its dominant position during the forecast period.

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In terms of vehicle type, the automotive seat belt reminder market can be divided into passenger vehicle and commercial vehicle. The passenger vehicle segment accounts for a prominent share of the automotive seat belt reminder market, which is primarily attributed to higher sales of passenger cars around the world owing to reduction in car loan rates and improvement in standard of living. Based on sales channel, OEM is a highly attractive and lucrative segment of the market. This is due to higher rate of adoption of safety devices in new modern vehicles on safety issues supplemented with a rise in the demand for safety while driving.

In terms of region, the global automotive seat belt reminder market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific and Europe lead the global automotive seat belt reminder market, primarily due to a rise in number of manufacturing plants of automobiles in these regions. Moreover, established component base in the region coupled with rising export is a key factor attributed to the notable share held by these regions in the global automotive seat belt reminder market.

Key players operating in the global automotive seat belt reminder market include Far Europe Inc., IEE, BuckleMeUp, APV Safety Products, Autoliv Inc., GWR Co., Caterpillar, Goradia Industries, Continental AG, Robert Bosch GmbH, and Seatbelt Solutions LLC.

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