Global Automotive Collision Avoidance System Market Size, Share, Forecast Report, 2020-2027
The automotive collision avoidance system is a safety system in the vehicle manufactured to prevent vehicle crash. The collision avoidance system in the vehicle primarily uses radar and LIDAR to detect an imminent crash. Also, GPS feature is used to detect stop signs through a location database and approach the brakes in the vehicle. The system acts autonomously without any driver input during an imminent crash. Collision avoidance can be carried out by braking or steering.
Global automotive collision avoidance system market has seen remarkable growth and is expected to rise at a CAGR of ~8% during the forecast period. Vehicle safety is one of the primary aspects sought by consumers and OEMs in the global automotive market. Rising awareness among consumers for vehicle safety is one of the major driving factors for the global collision avoidance system market. Moreover, there have been favorable government regulations in the developed countries such as the US and Germany for the development of advanced car assessment program. These will influence the need for the collision avoidance system in the vehicle. Increase in the purchasing power of the consumers increases the sales of luxury vehicles, which further increases the demand for safety systems such as the collision avoidance system during the forecast period. There has been massive increase in the investment in terms of time and money by manufacturers for improving the automotive collision avoidance systems. Increased investment will reduce the price of automotive collision avoidance system, which further enhances the market size during the forecast period. In Dec 2017, the National Highway Traffic Safety Administration (NHTSA) and the Insurance Institute for Highway Safety (IIHS) announced that every vehicle in the US is to be equipped with collision avoidance technology. The top automobile manufacturers such as Mercedes, BMW, Audi, and Tesla are considering autonomous emergency braking as standard feature in their vehicle models. However, installation of the automotive collision avoidance system in the low and mid-range vehicle is the major challenge due to the high price and need for advanced sensors such as LIDAR and radar.
Global automotive collision avoidance system market is segmented on the basis of process type, sales channel, vehicle type, and region. On the basis of type, the market has been segmented into adaptive cruise control, autonomous emergency braking, blind spot detection, and lane departure warning. On the basis of technology, the market has been segmented into radar, LIDAR, and camera. On the basis of sales channel, the market has been segmented into OEM and aftermarket. On the basis of vehicle type, the market has been segmented into passenger car, commercial vehicle, and electric vehicle.
Geographically, the global automotive collision avoidance system industry has been segmented into four major regions of North America, Europe, Asia-Pacific, and the Rest of the World. The global collision avoidance system market in Europe is expected to lead the market in terms of value and volume. In Europe, the growing sales of the luxury vehicle, especially sports utility vehicle (SUV) will increase the demand for collision avoidance systems in vehicles. Additionally, increased vehicle safety concerns among consumers will lead to the growth of the global market for the automotive collision avoidance system. North America market is projected to grow at a higher CAGR during the forecast period.
The prominent players in the global automotive collision avoidance system market include Aptiv Plc (Republic of Ireland), Robert Bosch GmbH (Germany), General Electric Company (US), Denso Corporation (Japan), and Honeywell International, Inc. (US). Siemens AG (Germany), Alstom SA (France), Rockwell Collins, Inc. (US), and Hexagon AB (Sweden) are among others.