Collision Avoidance System Market: Rapidly Evolving Industry…… COVID-19….
The global collision
avoidance system market is expected
to reach USD 18.97 billion by 2025,
according to a new study conducted by Grand View Research, Inc. The updated
ratings of safety agencies and incorporation of anti-collision systems in
mass-market models are expected to propel the market growth over the next six
years.
The increasing awareness among
consumers and extensive R&D by market players have fueled the market
growth. Collision avoidance systems enable vehicles to carry out
semi-autonomous and autonomous decision-making. The rising need for security
from consumers and governments is also expected to drive the collision
avoidance systems market growth.
The recent developments in the sensor
technology are oriented toward making highly sophisticated devices and augmenting
them with various parts of an automobile. Anti-collision systems enable
automotive OEMs to integrate additional intelligence to achieve the goal of an
autonomous car.
Strict legal and regulatory standards
have mandated the inclusion of sensors in motor vehicles. This is further
estimated to drive the collision avoidance systems market. However, the high
costs of long-range radars and LiDAR-based systems may restrain the market
growth as low-price carmakers may abstain from adding onto the cost of vehicles.
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The global anti-collision or Collision Avoidance
System Market was valued at USD 3.57 billion in 2015 and is anticipated to gain
momentum over the next few years. The market has witnessed growth over the past
few years, owing to the high degree of development in the field of LiDAR,
camera, radar, and ultrasound technologies. Luxury automakers continue to
exploit the potential of such systems as a part of their active safety package.
The growing sales of sports, utility, and luxury
vehicles are expected to drive the anti-collision systems industry growth. Some
major automakers have already initiated the integration of basic collision
avoidance systems into their mass-market models. For example, Toyota unveiled
its technologies with pre-crash braking packages, auto-parking feature,
auto-adjust headlamp, and vehicle communication devices and incorporated into
its 2015 models.
Further key findings from the study suggest:
·
Radar-based systems accounted
for over 41% of the global market in 2015. The segment is further expected to
gain market share over the forecast period.
·
The reducing prices of radars
have led to the increased adoption of the technology by various automotive OEMs
·
Camera-based collision
avoidance systems are expected to witness high growth, owing to the government
regulations mandating their incorporation into vehicles
·
Adaptive cruise control
accounted for a major market share in 2015. Such systems rely on long-range and
medium and short-range radar systems to automatically adjust a vehicle’s speed.
·
Technological innovations may
mandate the incorporation of systems in vehicles to counter the threat of
accidents due to human errors, which account for 90% of accidents, according to
a 2014 UN Road Safety Collaboration study
·
Europe is expected to continue
to lead the market over the forecast period. It accounted for over 33% of the
market in 2015.
·
The key industry participants
include Bosch, Continental, Delphi, Denso, Autoliv, and TRW, among others
Collision
avoidance setup enables the reduction in the number of road accidents and
mitigate the impact of such accidents on vehicle occupants and pedestrians.
The
increasing awareness among consumers, updated ratings of safety agencies, and
extensive R&D by industry players have fueled the anti-collision systems
market growth. In January 2015, the U.S. National Highway Traffic Safety
Administration (NHTSA) announced the addition of automatic emergency braking
into its New Car Assessment Program (NCAP) to prevent crashes or reduce the
severity of crashes or avoid such crashes.
Different
technology-based collision avoidance systems, such as radar, ultrasound,
camera, and LiDAR, offer active safety and pre-crash mitigation capabilities to
motor vehicles. Radars are preferred in the setup that require accurate determination
of distance and location of any obstacle. Cameras, both vision, and infrared
have a shorter field of view than radars but help in identifying the type of
obstacle.
Ultrasound
systems enable obstacle detection at short distances; they are inexpensive and
are predominantly used in parking assistance. LiDAR-based anti-collision
systems offer wide-view field and detailed imagery but are highly expensive and
bulky for mass automobile production. Radar and camera-based collision
avoidance systems are expected to gain significant market shares over the next
six years.
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Grand View Research has segmented the
global collision avoidance system market based on technology, application:
Collision Avoidance System Technology Outlook (Revenue,
USD Million, 2014 - 2025)
·
Radar
·
Camera
·
Ultrasonic
·
LiDAR
Collision Avoidance System Application Outlook (Revenue,
USD Million, 2014 - 2025)
·
Adaptive Cruise Control (ACC)
·
Blind Spot Detection (BSD)
·
Forward Collision Warning
System (FCWS)
·
Lane Departure Warning System
(LDWS)
·
Parking Assistance
·
Others
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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