Press release
Collision Avoidance System Market Expected to Reach $24.99 Billion, Globally, By Top Key Players: Delphi Automotive LLP, Robert Bosch GmbH, Denso Corporation, Autoliv, Inc., General Electric Company, Rockwell Collins, Inc., Honeywell International, Inc.,
Collision Avoidance System Market
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Collision Avoidance System Market is a safety awareness or a warning system designed to reduce the severity of a collision. Such systems are widely used in automobile and mining sectors to avoid accidents. It is also known as pre-crash system, forward collision warning system, or collision mitigating system. This system helps detect the imminent strike, alerting the driver about any collision. These systems are interpolated within the vehicle to enable semi-autonomous and autonomous decision-making. Moreover, such systems automatically take action without any input from the driver.
Increase in demand for automated vehicles plays a vital role in driving the automobile collision avoidance system market. In addition, improved visibility & enhanced safety supplements the market. However, high installation cost hampers the growth of the market to a greater extent. On the other hand, increase in automotive safety norms and electronic integration in automotive is projected to create greater opportunities for market expansion.
The major companies profiled in the report include Delphi Automotive LLP, Robert Bosch GmbH, Denso Corporation, Autoliv, Inc., General Electric Company, Rockwell Collins, Inc., Honeywell International, Inc., Siemens AG, Alstom SA, and Wabtec Corporation.
The automobile collision avoidance system market is segmented based on type, technology, application, and region. The type covered in the market research report include adaptive cruise control, autonomous emergency braking (AEB), lane departure warning system, parking assistance, and others (blind spot detection & night vision). The technology discussed in the study are LiDAR, RADAR, ultrasonic, and camera. The application segment includes automotive, aerospace & defense, marine, and rail. The regions considered in the study are North America, Europe, Asia‐Pacific, and LAMEA.
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Increase in demand for automated vehicles, improved visibility & enhanced safety, high installation cost, and increase in automotive safety norms & electronic integration in automotive are the significant factors that impact the growth of the global collision avoidance systems market. These factors are anticipated to either drive or hamper the market.
Analyst Review:
The global collision avoidance systems market is expected to witness high growth rate due to increase in demand for the automated vehicles, improvement of visibility, and enhanced safety. However, high installation cost impedes the market growth.
The collision avoidance system market signifies a promising picture for the automotive industry. The current business scenario has witnessed an increase in the demand for the collision avoidance system particularly in the developing regions. The companies adopt innovative techniques in an effort to provide customers with advanced and innovative product offerings.
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The factor responsible for collision avoidance system uptake is rate of the technological advances. Inspire of the recent advancements, there exists further scope for improvement. For instance, systems such as autonomous emergency braking system still has difficulty in identifying the objects when vehicle is at a high speed. Collision avoidance system seeks for cost-effective system solutions, which is fully integrated with other sensors.
Among North America, Asia-Pacific, Europe, and LAMEA, Europe exhibits the highest revenue in the market. On the other hand, LAMEA is expected to grow at a faster pace, predicting a lucrative market growth for collision avoidance systems.
Delphi Automotive LLP, Robert Bosch GmbH, Denso Corporation, Autoliv, Inc., General Electric Company, Rockwell Collins, Inc., Honeywell International, Inc., Siemens AG, Alstom SA, and Wabtec Corporation are key market players that occupy a significant revenue share in the collision avoidance systems market.
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