Collision Avoidance System Market estimated to reach a value of US$24.635 billion by 2025, from US$12.568 billion in 2019
The collision avoidance system is a type of a safety system that is present in the automobiles that are designed to prevent crashes or reduce the severity of the crashes. There are three types of collision avoidance systems available to assist the driver.
According to the report, the Collision Avoidance System Market is projected to increase at a CAGR of 11.87% over the forecast period 2019-2025.
The importance of using Collision Avoidance Systems due to the increasing number of road accidents, which are occurring
There has been an increasing the number of road accidents and rushes in the past few years owing to the fact that there are various factors causing these accidents such as driver drowsiness, lack of attention, or lack of coordination among other factors, which can cause road accidents and endanger the lives of other individuals as well. Thus, the demand for collision avoidance systems is rising, which are either able to assist the driver in avoiding a crash, avoid a crash on both forward and reverse sides of the vehicle, and is augmenting the market growth over the forecast period.
Increasing efforts being taken by the government and participation of market players
There are increasing efforts that are being taken by the government in order to reduce the number of road accidents and improve people's safety by launching new programs and guidelines that must be complied with. Moreover, there is an increasing number of market players involved in the provision of, and launching new and enhanced products, in order to cater to the rising demand from the automotive industry in order to reduce the rate of accidents, improve their market position and contribute to the market growth over the forecast period.
The Asia Pacific region holds a significant share in the market and grows at a noteworthy pace, whereas the North American region is expected to increase its share over the forecast period
The Asia Pacific region is estimated to hold a significant market share over the forecast period and grow at a noteworthy pace, which is attributable to the fact the, the automobile industry in the countries such as India and China is well-established, and there are a number of individuals that are purchasing automobiles owing to the rise in their disposable incomes. Moreover, the North American region is expected to increase its share over the forecast period, owing to the fact that there are an increasing number of investments and advancements being brought about into the semiconductors and sensors
The major players covered as part of the report are Robert Bosch GmbH, Denso Corporation, Autoliv Inc., ZF Friedrichshafen AG, Becker Mining, Collins Aerospace, (a United Technologies company), Hexagon AB, Continental AG, Infineon Technologies AG, and Panasonic Corporation among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/collision-avoidance-system-market
This report has segmented the Collision Avoidance System marketon the basis following terms.
- Forward Collision Warning
- Reverse Collision Warning
- Adaptive Cruise Control (ACC)
- Multi-Collision Brake
By Industry Vertical
- Material Handling
- Aerospace and Defense
- United Kingdom
Middle East and Africa
- Saudi Arabia
- South Korea
- North America
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