Collision Mitigation System Market Size, Share, Competitive Landscape And Trend Analysis, Global Opportunity Analysis And Forecast 2024-2031 | Autoliv, Delphi, Robert Bosch, Meritor WABCO

Market Overview:

Collision mitigation system is an advanced driver-assistance system designed to help avoid or reduce the severity of a rear-end collision with a vehicle directly ahead. The system monitors the speed of the vehicle ahead using sensors attached to the front of the vehicle and alerts the driver with visual and audible warnings if they need to brake harder or take other evasive action to avoid a collision.

Market Dynamics:

The collision mitigation system market is expected to witness significant growth over the forecast period owing to increasing road accidents globally and stringent safety regulations. According to World Health Organization, around 1.35 million people die each year as a result of road traffic crashes. Additionally, between 20 million and 50 million more people suffer non-fatal injuries. Road traffic injuries cause considerable economic losses to individuals, their families, and to nations as a whole. Furthermore, governments across the globe are focusing on enhancing road safety by mandating the installation of advanced driver assistance systems such as collision mitigation systems in vehicles. For instance, EU regulations require all new cars to have advanced emergency braking and collision warning systems from 2022. This is expected to boost the adoption of collision mitigation systems in the coming years.

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Market Driver - Increased safety concerns regarding rear-end collisions is fueling demand :

Rear-end collisions have always posed a significant safety risk on roads. However, with increased vehicle speeds and distracted driving incidents on the rise, these types of accidents have become even more dangerous and prevalent in recent years. Statistics show that rear-end collisions account for over 30% of all vehicle crashes annually. As consumers have become more aware of this danger, their demand for advanced safety features that can help prevent or mitigate rear-end collisions has increased substantially. Collision mitigation systems have proven effective at automatically detecting impending rear-end collisions and engaging the brakes to reduce impact or avoid the collision altogether. This has addressed a major consumer pain point and boosted the popularity of such systems. Automakers are proactively making them standard or options in more vehicle models and trims each year to cater to this growing demand.

Market Restrain - High developmental costs hamper widespread adoption :

While the benefits of collision mitigation systems are immense, developing and integrating advanced sensor fusion based CMS is an extremely costly and complex endeavor for automakers. It involves high investments in LiDAR, radar and camera technologies as well as computational power for processing real-time inputs from these sensors. Continuous upgrades are also required to improve accuracy and expand the scope of collision scenarios covered. For mass market mainstream vehicles, adding such expensive active safety features increases costs substantially. This is a major roadblock for greater adoption of CMS especially in price sensitive and value-conscious markets. Lower cost alternatives utilizing simpler ultrasonic and pre-crash braking systems are preferred in some vehicle segments to balance affordability with a certain level of safety. However, as sensor and computing costs come down with technological progress and mass production, this barrier to entry will weaken over time.

Market Opportunity - Retrofitting older fleets presents a lucrative business case :

A large portion of vehicles currently plying on roads globally lack advanced driver assistance and collision avoidance systems owing to their older age. However, as awareness about safety technologies improves, owners of such older fleets have also started realizing the urgent need to upgrade their vehicles. This has opened new growth opportunities for CMS manufacturers to supply retrofit kits for retrofitting older cars, trucks and commercial vehicles that were not originally equipped with CMS. Retrofitting presents a very attractive commercial proposition since the potential market covered billions of existing vehicles worldwide not just new units. CMS solution providers are innovating affordable plug-and-play retrofit packages to capitalize on this massive untapped market potential. The emergence of self-installable do-it-yourself retrofit options is further propelling this opportunity.

Market Trend - Integration of CMS with ADAS sees widening scope and capabilities :

Collision mitigation systems were initially developed as independent active safety features focused only on braking-based collision prevention in emergencies. However, the technology has rapidly advanced since with computer vision and AI capabilities improving. Modern CMS offerings are being tightly integrated with adaptive driving assistance systems (ADAS) through sensor fusion and centralized domain controllers. This is allowing the combined system to detect collision risks much before from greater distances using HD maps, navigation data and V2X connectivity apart from onboard sensors. It also widens the scope of coverage to all directions and additional pre-crash active safety functions beyond just braking like automated steering corrections. Automakers can cater to higher segments through full-stack ADAS plus CMS solutions with autonomous emergency braking, blind spot warning, lane keep assist and more under one package. Such wide-ranging solutions have become popular market trends.

Some of the Major Companies covered in this Research are:

✦ Autoliv
✦ Delphi
✦ Robert Bosch
✦ Meritor WABCO
✦ Bendix Commercial Vehicles Systems
✦ Mitsubishi Motors North America
✦ Mobileye
✦ ZF Friedrichshafen

By Types:

✦ Radar
✦ Camera
✦ Ultrasound
✦ LiDAR

By Applications:

✦ Light Commercial Vehicles
✦ Heavy Commercial Vehicles
✦ Passenger Cars

Key highlights of the report:

• Collision Mitigation System Market Performance (2019-2023)
• Market Outlook (2024-2031)
• Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

Most Frequently Asked Questions:

1. How feasible is the Collision Mitigation System market for long-term investment?
2. What are the influencing factors driving the demand for this market in the future?
3. What is the impact analysis of various factors in the global market growth?
4. What are the recent trends in the regional market and how successful they are?
5. What will be the market value in the future?
6. What are the key opportunities of the market?
7. Who are the major players operating in the market?

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