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Collision Avoidance System Market by Type (Adaptive Cruise Control, Autonomous Emergency Braking (AEB), Lane Departure Warning System, Parking Assistance, and Others), Technology (LiDAR, RADAR, Ultrasonic, and Camera), and Application (Automotive, Aerospace & Defense, Marine, and Rail) - Global Opportunity Analysis and Industry Forecast, 2017-2023
Collision Avoidance System Market Overview:
The global collision avoidance system market was valued at $13.18 billion in 2016 and is expected to garner at $24.99 billion by 2023, growing at a CAGR of 9.7% from 2017 to 2023. Collision Avoidance System 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 the 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, ... Read More
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