The Collision avoidance system market is projected to grow at a CAGR of 11.87% to reach US$24.635 billion by 2025, from US$12.568 billion in 2019. Rising number of road accidents worldwide is the major driver of collision avoidance system market. Growing focus on workers’ safety in industries such as material handling is further boosting the demand for collision avoidance systems. The potential for the expansion of these systems on account of growing emphasis on car safety, such as Global New Car Assessment Programme (NCAP), to mitigate or prevent motor vehicle crashes is further contributing to the market growth. However, high cost of these systems is currently impeding its adoption, thus restraining the overall market growth. Geographically, Europe holds the largest market share of global collision avoidance system market owing to the high adoption rate of these systems in the EU countries supported by mandatory regulations mandating the deployment of these systems.
The Collision Avoidance System Market – Forecasts from 2020 to 2025 is an exhaustive study which aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by type, technology, industry vertical, and geography.
The collision avoidance system market has been segmented based on type, technology, technology, industry vertical, and geography. By type, the market is segmented as forward collision warning, reverse collision warning, adaptive cruise control (ACC), multi-collision brake and others. By technology, the market has been classified radar and LiDAR. By industry vertical, the market has been segmented into automotive, material handling, aerospace and defense and others.
Regional analysis has been provided with detailed analysis and forecast for the period 2019 to 2025. The global market has been broken down into North America, South America, Europe, Middle East and Africa (MEA), and the Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the collision avoidance system market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the collision avoidance system market.