A vehicle stability control (VSC) system is an electronic active safety system that helps the driver to control the vehicle during a critical maneuver such as swerving to avoid an obstacle or strong steering at an unanticipated tight corner. The VSC system consists of several sensors such as steering wheel angle sensor, yaw rate sensor, lateral acceleration sensor, and wheel speed sensor. These sensors determine what the driver wants and decides how the vehicle reacts to the driver’s input. The steering wheel sensor senses the driver’s applied force of turning the vehicle. Yaw rate sensor, lateral acceleration sensor, and wheel speed sensor measures whether the vehicle is traveling in the way driver wants to steer it. If a potential loss of vehicle control is detected, the VSC automatically cuts engine throttle and, if necessary, applies brake pressure to the appropriate wheels in order to steer the vehicle in the desired direction.
The VSC system strongly reduces the risk of a sudden roll-over during cornering or quick lane change manoeuvres, particularly in case of tankers and vehicles with a high center of gravity. Additionally, the VSC also significantly reduces the risk of jack-knifing. It can prevent many types of crashes; however, it is especially effective in preventing single vehicle crashes that result from a loss of control. These advantages are driving the demand for VSC systems, which in turn is boosting in the automotive market.
A VSC system consists of electronic components; hence chances of malfunctioning exist. In such cases, the entire system can fail to perform a safety task. Currently, there are sensors and technologies which can work even in extreme conditions and also if some components of the system are not functioning. Rise in the number of embedded systems in automotive applications is anticipated to propel the demand for VSC systems. Every vehicle system or function that replaces mechanical control with electronic control presents the VSC system an opportunity to increase its capability and performance. The future of VSC system is estimated to be dictated by advances in embedded systems for other automotive applications.
The VSC system market can be segmented based on type of vehicle, technology, components, and geography. In terms of types of vehicle, the stability control system market is segregated into passenger vehicles (PVs), light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). All type of vehicles utilize stability control systems, either as an add-on cost option or as an integral part. In case of HCVs, chances of the vehicle rolling are high; hence, the VSC system is of considerable importance. Passenger vehicle and light commercial vehicle segments further can be divided into two categories: two wheel drive and four wheel drive. The VSC system is more effective in case of four-wheel drive vehicles.
In terms of technology, the VSC system market can be segmented into roll stability advisor, roll stability control (RSC), and electronic stability control (ESC). Roll stability advisor informs the driver about the significant rollover risks. This system is not as reliable as the other two systems. RSC system automatically intervenes if a high rollover risk is detected due to excessive speed on a curve. Whereas ESC systems, also known as electronic stability programs (ESPs), are active systems that automatically intervene when there is either a high risk of rollover or yaw instability. Based on components used VSC system can be categorized as system with steering wheel angle sensor, wheel speed sensor, yaw rate sensor, lateral acceleration sensor and Electronics Control Unit (ECU). These components are sensing and operating units of the system.
Based on geography, the VSC system market can be segmented into North America, Asia Pacific, Europe, Middle East and Africa, and Rest of the World. Asia Pacific is a prominent market for automotive, where the demand for the safety systems such as VSC system is significantly high. Automation in the field of automotive, such as driverless cars, has boosted the demand for automotive safety systems in developed regions such as North America and Europe.
Key players operating in the VSC system market are Robert Bosch GmbH, Continental AG, Delphi automotive LLP, TRW automotive, Hitachi Ltd., Toyoda Gosei, Autoliv, DENSO Ten Ltd., Honeywell, Johnson electric, and Wabco.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.