Global anti lock braking system market is expected to grow at a CAGR of over 6% over the next five years, owing to a rise in the number of on-road vehicles, increasing focus on vehicle safety and improvements in technology.
Anti Lock Braking System or ABS is a technologically advanced active braking system employed in automobiles. It plays an active role in avoiding the locking of wheels while applying brakes. Anti lock braking system also helps in maintaining a dynamic contact with the surface of the road, proportional to the braking inputs given by the driver.
The growth of the global anti lock braking system market is driven by several factors such as technological advancements, growing demand for safety features, and an increase in global safety protocols for vehicle safety. Additionally, the growing demand for comfort systems in automobiles and the need for vehicle safety further promote the use of anti lock braking systems. However, the high safety standard ratings of anti lock braking systems and the relatively high maintenance costs of anti lock braking systems restrain the market growth. Furthermore, expansion in the untapped market of developing countries like India, Indonesia, and Brazil and the development
of advanced braking systems for two wheelers are expected to provide new opportunities for the key market players.
The Business Challenge
The client– A leading player in the auto spares manufacturing industry, specializing in the manufacturing of anti lock braking systems
Objective– To assess the demand-supply scenario and to examine the competitive developments such as new product launches, expansions, mergers and acquisitions in the global anti lock braking system market.
An international player in the auto spares industry, specializing in anti lock braking systems wanted to conduct a detailed market analysis for anti lock braking systems. As such the client approached our team of experts to leverage the use of Infiniti’s market analysis solutions to gain detailed market insights. The client also wanted to forecast and classify the demand in the global anti lock braking system market based on several factors such as demand category, vehicle type, sub-system, and regional distribution.
The client wanted to leverage the use of Infiniti’s market analysis solution to better understand the target market’s risks and opportunities. Their primary intention was to understand and anticipate the market situations to develop a sound business plan to support the conclusion based on market analysis.
Results– The market analysis study unearthed a series of finding that played a key role in enhancing their local and global strategies. Our solution also helped the client in understanding the global scenario and the competitive environment of the anti lock braking system market, which in turn, assisted them in assessing the attractiveness of the potential new market opportunity as an essential source of future business growth.
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The Journey:
The market analysis experts at Infiniti carried out extensive research comprising of interviews and discussions with leading stakeholders across the auto spares industry to help the client improve business efficiency. The experts at Infiniti further compiled information from a wide array of secondary sources such as paid industry databases, company presentations, and industry forums to help the client understand the global competitive scenario.
The Solution and the Business Impact:
Using primary data collected from approximately 200 channels along with several secondary sources of information, our market analysis experts evaluated the size and growth rate of the global anti lock braking system market. With the help of Infiniti’s market analysis solution, the client was able to determine customer needs, evaluated the competitive landscape and analyzed the value chain economics.
It also revealed detailed insights into the following:
- Customer needs and preferences
- Evolving market opportunities
- Market trends and success factors
Leveraging market analysis also offered detailed insights on market growth, opportunities, risks and key players in the market. This engagement also provided information on the economic, competitive, and political environment affecting the growth of the auto spares market. The solution offered also helped the client to improve their overall organizational performance by enhancing their business strategies.
Industry challenges:
- Increased competition: Intense competition along with slow growth poses a major challenge for players in the auto spares industry. Also, the overabundance of technologically innovative products and players in the market has resulted in a hyper-competitive market scenario.
- Connected cars: It is one of the greatest transformational forces in the automotive industry. Connected cars serve as a communication hub that receives as well as transmits data to its surroundings. Such connectivity offers enormous benefits to the end-users and also enhances the possibility of autonomous driving.
- New government regulations: The increase in stringent regulations focused on reducing the carbon dioxide and exhaust gas emissions poses several challenges to players in this sector. The key challenge is to select the right technology in the context of rapidly changing societal preferences within a changing regulatory environment.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the auto spares industry.
