Global Automotive Torque Vectoring System Market to Grow at a CAGR of 31.27% by 2021: Increased Demand for In-Vehicle Electronic Devices to Examine Situations & Prevent Accidents -- Research and Markets
The global automotive torque vectoring system market to grow at a CAGR of 31.27% during the period 2017-2021.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
One trend in the market is use of MR fluids by Ricardo in torque vectoring systems. Ricardo has advocated the use of the unique properties of magnetorheological (MR) fluid inside hydraulic pumps. This eliminates the need for electro-mechanical valves and other small moving parts. An MR is a type of oil that is composed of minute magnetic particles that react to magnetic fields. When electricity is passed through the hydraulic pump, these magnetic particles increase the viscosity of the fluid to create a magnetic field and align themselves perpendicular to the magnetic flux in the form of fibrous structures.
According to the report, one driver in the market is increase in requirement of safety for all vehicles. The quest for automobile safety is one of the key drivers for the development of advanced automobile safety systems. Advanced safety and security features are no longer restricted to premium vehicles. Consumers are more aware about safety systems and technologies and are taking an interest in improving the safety systems of their vehicles. Electronic equipment, such as cameras and sensors, are being installed, even in entry-level vehicles.
This has increased the demand for in-vehicle electronic devices to examine situations and prevent accidents. Driver assistance and safety systems applications include blind spot detection, forward collision warning (FCW), surround-view systems, lane departure warning systems (LDWS), and night vision systems (NVS). These safety systems examine road conditions and raise alerts on potential accidents.