Collision Avoidance System Market Overview:
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.
Top Impacting Factors
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.
Increase in Demand for Automated Vehicles
In recent years, there is considerable developments in the automated driving systems (ADS). Some of the cars sold today have adopted to the automated operations. In addition, prototype cars, which are capable of the autonomous driving are being tested on public roads of Europe, Japan, and the U.S. Automated system features reduced congestions, improved safety, and less stress level for car occupants. Due to the presence of such features, there is increase in demand for the automated vehicles, which supplements the growth of collision avoidance system market.
Improved Visibility and Enhanced Safety
Reduced visibility conditions such as fog frequently causes multiple vehicle crashes with the serious consequences. Collision avoidance systems warns the driver whenever vehicle is in a condition to collide or crash on to the upfront object, which helps in collision/crash avoidance, particularly in reduced visibility conditions. Moreover, this helps in the upgradation of the safety of the vehicle as well as the occupants, which in turn drives the global collision avoidance system market.
High Installation Cost
Collision avoidance systems require sensors such as electromagnetic sensors, optical sensors, and acoustic sensors, which are mounted at different parts of the vehicle to continually sense and monitor the surrounding environment which adds to the overall cost of collision avoidance system. For instance, use of ultrasonic sensors in parking aid vehicle safety system. Moreover, electromagnetic sensors are most expensive as compared to the other sensor. Thus, high implementation cost restricts the growth of collision avoidance systems.
Increase in Automotive Safety Norms
According to World health organization (WHO) 1.25 million people die due to road accidents and millions more are injured. The safety of the vehicle plays a critical role in adverting the crash or reduce the impact. Vehicles equipped with such standards is least expected to be involved in the accident and major injury to the occupants. The minimum basic safety standards for the vehicle manufacturer and industry include standards on frontal and side impact protect occupants, electronic stability control, pedestrian protection, seat-belts, ISOFIX child restraint anchorage point. Furthermore, there is an increase in trend to include safety standard as basic feature which creates lucrative opportunities for the market expansion. For instance, National Highway Traffic Safety Administration (NHTSA) Insurance Institute for Highway Safety (IIHS) announced that the 99% of auto manufacturers in the U.S. have signed agreement to include automatic emergency braking (AEB) systems as a standard feature by 2022 for all new vehicles.
- This study comprises analytical depiction of the global collision avoidance systems market with current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2017 to 2023 to highlight the financial competency of the market.
- Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers in the industry.
Collision Avoidance System Market Key Segments:
- Adaptive Cruise Control (ACC)
- Autonomous Emergency Braking (AEB)
- Lane Departure Warning System (LDWS)
- Parking assistance
- Others (blind spot detection & night vision)
- Aerospace & Defense
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled
- Delphi Automotive LLP
- Robert Bosch GmbH
- Denso Corporation
- Autoliv, Inc.
- General Electric Company
- Rockwell Collins, Inc.
- Honeywell International, Inc.
- Siemens AG
- Alstom SA
- Wabtec Corporation