Collision Avoidance System Market- Trusting Passengers' Lives With Technology

Collision Avoidance System Market- Trusting Passengers' Lives With Technology

By Knowledge Sourcing Intelligence Thought Articles

The safe and collision-free travel is becoming vital and an important issue in today’s society, industries As such, avoiding collisions is a crucial issue in most transportation systems as well as in many other applications including aerospace and naval applications where radar-based support systems have been used for several decades to avoid collisions.

Collision Avoidance System Market

Tremendous progress has been continuously made since the 1960’s with regard to vehicle safety starting with improvements in passive safety features such as air bags, seat belts, crash zones, and lighting. This has resulted in a dramatic decline in the rate of crashes, injuries, and fatalities. However, in spite of these impressive improvements, each year, approximately 1.35 million people die in road accidents, costing most countries 3 per cent of their gross domestic products, according to the World Health Organization (WHO). These road crashes cause loss to both human lives and public property, leading to huge financial losses incurred by the economy. Significant further gains in reducing crash costs is more difficult to achieve by proceeding with these passive safety technologies alone. Consequently, there is virtue to keep investing in technologies in an attempt to reduce the severity of crashes or even complete mitigation of collisions.

Number and Rate of Road Traffic Death per 100,000 Population: 2000-2016

Collision Avoidance System Market

Source: Knowledge Sourcing Intelligence Analysis

Collision Avoidance System is a warning system which is designed to reduce the severity of a collision. It is also known as forward collision warning system, pre-crash system, or collision mitigating system. Collision avoidance system (CAS) is designed to help prevent rear-end collisions with vehicles that are either stationary or travelling in the same direction. The system is aimed at alerting the driver to an imminent rear-end collision both at low speed and high speed. Collision avoidance system is a leap in vehicle safety technology. These systems attempt to actively warn drivers of an impending collision event which allows them adequate time to take appropriate corrective actions to mitigate or completely avoid the event. According to the crash data collected by the U.S. National Highway Traffic Safety Administration (NHTSA), approximately 88 per cent of rear-end collisions are caused by driver’s lack of attention and following vehicle too closely.

Rising number of road accidents worldwide is pressurizing governments as well as global organizations to focusing on reducing this number by implementing several regulations and standards to ensure the safety of vehicle. For example, the Electronic Stability Control (ESC) standard has been adopted in the U.S. since 2012 in all new vehicles. Also, the European NCAP requires passenger vehicles to provide emergency autonomous braking solution in order to achieve the agency’s highest safety rating. All these regulations being implemented across various regions/countries is significantly driving the global collision avoidance system market.

Collision Avoidance System Market Size, Us$ Billion, 2019 and 2025

Collision Avoidance System Market

Source: Knowledge Sourcing Intelligence Analysis

The move towards driverless cars to revolutionize personal transport is also gearing up the demand for collision avoidance systems. As of March 2018, 52 companies possesses permits to test autonomous vehicles on the road of the State of California alone. This new technology could reduce high cost of crashes and transport infrastructure, road congestion, and others. VDA, an industry body for the automotive sector in Germany, announced in 2019 announced to invest over €40 billion in electric mobility during the next three years with another €18 billion in digitization and connected and automated driving.

The advancement of collision avoidance technology has also opened new areas to find compensation for seriously injured plaintiffs. With stringent workers’ safety regulations being in place across different regions/countries, the demand for collision avoidance systems is rising across the material handling as well as mining industry. The Occupational Safety and Health (OSHA), part of the United States Department of Labor, ensures that workers have safe and healthy working and it is the duty of the employer to provide the workplace free of known health and safety hazards. Member States of the European Union (EU) are free to adopt stricter rules and regulations for the protection of workers when transposing EU directives into national law. Therefore, legislative requirements in the field of safety and health at work can vary across EU Member States.

Collision avoidance systems are increasingly being added to material handling systems as there has been a growing focus on workers’ safety across different industries. For example, collision avoidance systems can be installed in cranes to help prevent accidents. These systems for cranes are designed to prevent crane-to-end stop and crane-to-crane collisions and increase operator safety and reduce system maintenance costs. These systems, when necessary, intervene by way of preventing human error and thus, prevent accidents while helping to make the workplace safer for workers. Collision avoidance systems also help mining equipment operators minimize the risk of accidents and injury, majorly due to diminished visibility, while improving efficiency and reducing costs. According to the U.S. Mine Safety and Health Administration, 24 fatalities were recorded at the country’s mine in 2018 with seven involved a collision. Although this was the lowest number of mining fatalities on record, collisions still pose a great threat to the safety of the country’s mines for which the demand for proximity-monitoring solutions is booming to limit or eliminate these risks. With the scale of mining operations continue to increase across the globe, with governments and private organizations funnelling investments into new as well as existing mines, elimination of collision-based accidents is becoming more and more critical to ensuring safe mining.

In order to reduce the economic burden of fatalities and loss of property, countries across the globe need to focus on making transportation industry safer for which continuous investments is required in R&D to incorporate advanced technologies like CAS in vehicles and machines.

ABOUT THE AUTHOR:

Anjali Joshi is a senior market research analyst at Knowledge Sourcing Intelligence. She oversees a team of analysts and is known for the quality of market intelligence she delivers to the clients which range from start-ups and Non-profit Organizations to Fortune 500 companies. Anjali’s keen understanding of international business and market dynamics, coupled with her years of experience working in this industry, allows her to analyse current and future trends across both global and clients’ target markets and help them in making informed decisions.