Automotive Collision Avoidance System Market to Generate a Revenue of US$ 15.4 Billion by 2025
Coherent Market Insights
Automotive Collision Avoidance System Market Buoyed by Implementation of Supportive Regulations Regarding Vehicular Safety
SEATTLE, WASHINGTON, UNITED STATES, December 27, 2017 /EINPresswire.com/ -- The Automotive Collision Avoidance System market was valued at US$ 3.9 billion in 2016 and is projected to reach US$ 15.4 billion by 2025, according to a new market research report Automotive Collision Avoidance System Market by Device (Adaptive Cruise Control, Autonomous Emergency Braking, Blind Spot Detection, Driver Monitoring System, Electronic Stability Control, Lane Departure Warning, Night Vision, Tire Pressure Monitoring System), by Technology (Radar, Lidar, Camera, Ultrasonic) and Geography-Global Forecast to 2025 by Coherent Market Insights.
Collision avoidance system tracks the object of collision risk and either prompts the driver to take evasive action or in case of no response from the driver, autonomously steers clear of the obstacle. With the help of a lidar (light detection and ranging), radar, camera the system detects the conflict and alerts the driver to avoid the collision. Adoption of electronic stability control system plays a major role for the growth of the market. The electronic stability control is a crash avoidance system that assists drivers to avoid accidents by reducing danger of skidding and losing control. With the help of microcomputer and electronic sensors, the electronic stability control continually monitors steering and braking inputs together with acceleration, wheel rotation and yaw rate. According to CMI study, it has estimated that electronic stability control can reduce the fatal crashes by 20% to 40%.
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Browse 40 Market Data Tables and 60 Figures spread through 300 Pages and in-depth TOC on "Automotive Collision Avoidance System Market by Device (Adaptive Cruise Control, Autonomous Emergency Braking, Blind Spot Detection, Driver Monitoring System, Electronic Stability Control, Lane Departure Warning, Night Vision, Tire Pressure Monitoring System), by Technology (Radar, Lidar, Camera, Ultrasonic) and Geography-Global Forecast to 2025 by Coherent Market Insights."
Key Takeaways of the Automotive Collision Avoidance System Market:
Global Automotive Collision Avoidance System market was valued at US$ 3.9 billion in 2016 and is projected to reach US$ 15.4 billion by 2025, exhibiting a CAGR of XX.X% over the forecast period.
On the basis of device, the autonomous emergency braking segment is projected to exhibit the highest CAGR over the forecast period. The increasing government regulation for vehicle safety concerns have accelerated the demand for autonomous emergency braking in the market for example: In 2016, U.S. Department of Transportation's National Highway Traffic Safety Administration have officially announced that the united states automaker have to make the autonomous emergency braking system a standard feature for all cars and trucks by 2022.
On the basis of technology, the radar segment held the dominant position in 2016 and is projected to retain its dominance throughout the forecast period. The radar technology have a high capability to detect the signals that strongly reflect electromagnetic radiation. Hence, due to this the feature OEMs majorly uses radar technology for various systems such as automated parking systems, blind spot detection systems, collision avoidance systems etc.
The Europe region holds the dominant position in the market in 2016 and is projected to retain its dominance throughout the forecast period. Germany, France, Italy, Spain, and the U.K. are some of the major growth engines of the automotive collision avoidance system market in this region. The increasing government regulations for vehicle safety concerns creates a favorable environment for growth of the market in the region. For example: in 2014, The European transport safety council have announced that its mandatory for the OEMs to install automated emergency braking systems, anti-lock braking systems, electronic stability control and seat-belt reminders in new vehicles.
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Some of the major companies in the global are Automotive Collision Avoidance System market are Alstom SA, Autoliv, Inc., Denso Corporation, General Electric Company, Hexagon AB, Honeywell International, Inc., Robert Bosch GmbH, Rockwell Collins, Inc., Siemens AG, and Wabtec Corporation
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