Press release
Collision Mitigation System Market Growth with Worldwide Industry Analysis to 2026
According to the study conducted by the National Transportation Safety Board (NTSB) of the U.S., more than 1.7 million rear-end crashes occurred in U.S. and resulted in 1,705 fatalities and 500,000 injuries in 2012. In 2012, number of rear-end crashes has been increased by 6.8% in U.S as compared to the same in 2011. In each of the investigated rear-end collision by NTSB, it has been found that drivers of the striking vehicles were not able to detect the slowed or stopped traffic and stop their vehicle in time. Driver failure to control vehicle in such critical situations could have prevented with installation of collision mitigation system in vehicle. Collision mitigation system uses data inputs from its vision and radar sensors to offer full automatic braking when it predicts high risk of collision. CMS comes along with variety of functions such as full speed range adaptive control, forward collision control, lane departure warning, headway alert and autonomous breaking system, which enable drivers to avoid collision.
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Transportation is an indispensable need of a community and transportation industry is expected to grow linear with growth in population. Health conscious consumers and emerging government regulations over road safety are driving demand for safe and technologically sound vehicles. It would be a key driver to promote adoption of collision mitigation systems. Automobile manufacturer are continuously adopting latest technology in order to cater the growing demand of smarter, faster, comfortable and safe vehicles, which would augment the demand of collision mitigation system. Additionally, growing traffic congestion in China and India is expected to drive adoption of collision mitigation system at steady rate. However sustainability of the global collision mitigation system market is majorly depends on further innovation and product development.
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Road safety regulations are well established and practiced in North America, Western Europe, Japan, and Eastern Europe, resultantly collision mitigation system is adopted technologies in this geographies. Collision Mitigation System Market in this region is expected to grow steadily with growth of automobile industry. Asia Pacific is expected to be the largest market, followed by North America and Western Europe in 2016. China is the largest market in Asia-Pacific followed by India in 2016, and is expected to grow rapidly in the near future. This is primarily because of growing traffic congestion in Shanghai and Beijing in China where people spend almost average 30% of the time on road idling. In India, Bengaluru and Mumbai are heavily dense cities with respect to population and facing traffic congestion.
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