The global collision avoidance system market is expected
to reach USD 18.97 billion by 2025, according to a new study conducted by Grand
View Research, Inc. The updated ratings of safety agencies and incorporation of
anti-collision systems in mass-market models are expected to propel the market
growth over the next six years.
The increasing awareness
among consumers and extensive R&D by market players have fueled the market
growth. Collision avoidance systems enable vehicles to carry out
semi-autonomous and autonomous decision-making. The rising need for security
from consumers and governments is also expected to drive the collision
avoidance systems market growth.
The recent developments
in the sensor technology are oriented toward making highly sophisticated
devices and augmenting them with various parts of an automobile. Anti-collision
systems enable automotive OEMs to integrate additional intelligence to achieve
the goal of an autonomous car.
Strict legal and
regulatory standards have mandated the inclusion of sensors in motor vehicles.
This is further estimated to drive the collision avoidance systems market.
However, the high costs of long-range radars and LiDAR-based systems may
restrain the market growth as low-price carmakers may abstain from adding onto
the cost of vehicles.
Further key findings from the study suggest:
· Radar-based systems accounted for over 41%
of the global market in 2015. The segment is further expected to gain market
share over the forecast period.
· The reducing prices of radars have led to
the increased adoption of the technology by various automotive OEMs
· Camera-based collision avoidance systems
are expected to witness high growth, owing to the government regulations
mandating their incorporation into vehicles
· Adaptive cruise control accounted for a
major market share in 2015. Such systems rely on long-range and medium and
short-range radar systems to automatically adjust a vehicle’s speed.
· Technological innovations may mandate the
incorporation of systems in vehicles to counter the threat of accidents due to
human errors, which account for 90% of accidents, according to a 2014 UN Road
Safety Collaboration study
· Europe is expected to continue to lead the
market over the forecast period. It accounted for over 33% of the market in
2015.
· The key industry participants include
Bosch, Continental, Delphi, Denso, Autoliv, and TRW, among others
Grand View Research has
segmented the global collision avoidance system market based on technology,
application, and region:
Collision Avoidance System Technology Outlook (Revenue,
USD Million, 2014 - 2025)
·
Radar
·
Camera
·
Ultrasonic
·
LiDAR
Collision Avoidance System Application Outlook (Revenue,
USD Million, 2014 - 2025)
·
Adaptive Cruise Control (ACC)
·
Blind Spot Detection (BSD)
·
Forward Collision Warning System (FCWS)
·
Lane Departure Warning System (LDWS)
·
Parking Assistance
·
Others
Collision Avoidance System Regional Outlook (Revenue, USD
Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
·
Asia Pacific
o
China
o
Japan
o
India
·
Latin America
o
Mexico
o
Brazil
·
The Middle East and Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
