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For companies to maintain their market share in the Electronic Stability Control (ESC) System market, there are various strategies employed. These positioning strategies play a significant role in making a brand visible and attracting potential customers. One of the main ways is through differentiation where unique features and technological advancements within their ESC systems are emphasized upon by firms. Some brands distinguish themselves from others by focusing on superior sensor technology, improved response times or better integration with other safety systems among other things. They do this in order to attract buyers seeking state-of-the-art ESC solutions.
Further still, there is another strategy which is common especially for those companies that want to be identified as cost leaders within the industry. To achieve this objective, they may streamline their production processes, allocate resources more efficiently or enter into supplier agreements that allow them to have competitive prices. They do this so that they can be seen as pocket friendly yet not compromising on matters concerning how well their respective products perform or even the minimum security standards that apply; hence targeting a larger group of potential clients including individual consumers who prefer budget purchases.
Additionally, niche targeting is another viable strategy. Rather than focus on mass markets some businesses concentrate on certain parts of the ESC system market. Concentrating efforts towards commercial vehicles or high performance vehicle segments allows such enterprises specialize in addressing specific needs peculiar to these industries only. This approach helps them become experts in such special markets providing customized solutions and achieving strong ground therein.
Furthermore, customer-centric strategies prioritize exceptional customer service, extensive after-sales support and customization options. By understanding and fulfilling individual customer needs, companies foster customer loyalty and generate positive word-of-mouth referrals. Offering personalized solutions and ensuring a seamless customer experience differentiates a company from competitors thereby creating loyal customers and increasing its market share.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Increasing production of technologically advanced vehicle Increasing disposable income among individuals and the rising demand for luxury vehicles |
Electronic Stability Control System Market Highlights:
Electronic Stability Control System Market Synopsis:
Global automotive electronic stability control systems market is expected to grow USD 35,410 million at 9.5% CAGR during the forecast period.
Geographically, the global electronic stability control system market has been divided as North America, Europe, Asia Pacific and Rest of the World. North America, of all the regions, has accounted for the largest market share, in 2016, followed by Europe and Asia Pacific. Increasing production of technologically advanced vehicle, and growing investment in R&D in automotive industry, are driving the growth of the market in North America. Asia Pacific is expected to grow at a highest CAGR during the forecast period, driven by the increasing automotive manufacturing activities. Increasing disposable income among individuals and the rising demand for luxury vehicles, are also fueling the market growth. China is the major market in Asia Pacific region. It has emerged as one of the leading markets for electric cars in terms of sales. And as per government reforms, the country has planned to ban the sales of all the petrol and diesel vehicles by 2019. However, the demand for electric car is expected to rise in the future, which will also increase the market growth. Moreover, Japan, Singapore and South Korea governments, are also planning to take such initiatives.
For the purpose of this study, the global electronic stability control systems market has been segmented by vehicle type, and by drive type. By vehicle type, the market has been segmented as passenger car, light commercial vehicle and heavy commercial vehicles of which passenger cars account the largest market followed by LMV and HMV. The passenger vehicle, which essentially carries many passengers, accounts for almost 66% of the global vehicle production. With the rise in income levels, the passenger vehicle segment has witnessed a significant rise in production and sales. Light commercial vehicle segment is the second largest segment in terms of value. A commercial vehicle is basically a motor vehicle utilized for the purpose of transporting goods or paid passengers. Light commercial vehicles include pickup trucks, and vans. On the basis of drive type, the market has been segmented as rear wheel drive, front wheel drive, and all-wheel drive. The rear wheel drive segment dominates the drive type segment of the market. The all-wheel drive segment is expected to grow at the highest CAGR during the forecast period. Rise in both production of all-wheel drive vehicles and safety concerns among the consumers in North America and Europe, are driving the demand of this segment.
The Prominent Players
The prominent players in the electronic stability control system market include Robert Bosch GmbH (Germany), Johnson Electric. (Hong Kong), TRW Automotive Holdings (U.S.), Continental AG (Germany), Delphi Automotive (U.K.), Hitachi Automotive Systems Ltd. (Japan), Autoliv Inc. (Sweden), Toyoda Gosei Co. Ltd (Japan), WABCO Holdings Inc. (U.S.), and Murata Manufacturing Co., Ltd. (Japan),.
Electronic stability control systems considerably enhance stability and control in vehicles in critical situations. These systems use computer control for individual wheel brakes to help the driver maintain control of the vehicle during extreme movements. This is done by keeping the vehicle headed in the direction the driver is steering even when the vehicle nears or reaches the limits of road traction. ESC is therefore expected to have a substantial positive effect on road safety. Electronic stability control systems have a variety of names, including Dynamic Stability Control, Vehicle Stability Control, Dynamic Stability and Traction Control, StabiliTrak, and Advance Trac.
The report for Global Electronic Stability Control System Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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