The automotive collision avoidance system market was valued at US$ 12.5 billion in 2018 and is projected to reach US$ 30.9 billion by 2027, according to a new market research report, Global Automotive Collision Avoidance System Market, by Device (Adaptive Cruise Control, Autonomous Emergency Braking, Blind Spot Detection, Driver Monitoring System, Electronic Stability Control, Lane Departure Warning, Night Vision, and Tire Pressure Monitoring System), by Technology (Radar, LiDAR, Camera, and Ultrasonic), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa).
Collision avoidance system tracks the object of collision risk and either prompts the driver to take evasive action or in case of no response from the driver, autonomously steers the vehicle away from the obstacles. With the help of a LiDAR (light detection and ranging), radar, and camera, the system detects the obstacles or pedestrian and alerts the driver to avoid collision. The adoption of electronic stability control system plays a major role in driving growth of the market. The electronic stability control is a crash avoidance system that assist drivers to avoid accidents by reducing danger of skidding and losing control. With the help of microcomputer and electronic sensors, the electronic stability control continually monitors steering and braking inputs together with acceleration, wheel rotation, and yaw rate.
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Key Takeaways of the Automotive Collision Avoidance System Market:
- The global automotive collision avoidance system market was valued at US$ 12.5 billion in 2018 and is projected to reach US$ 30.9 billion by 2027, exhibiting a CAGR of 12.1% over the forecast period
- On the basis of device, the autonomous emergency braking (AEB) segment is projected to exhibit the highest CAGR over the forecast period. Increasing government regulations due to vehicle safety concerns have accelerated the demand for autonomous emergency braking device in the market. For instance, in 2018, the EU announced that autonomous emergency braking (AEB) should be fitted in all the new vehicles by 2022. On the basis of technology, the radar segment held dominant position in 2018 and is projected to retain its dominance throughout the forecast period. The radar technology has high capability to detect the signals that strongly reflect electromagnetic radiation. Therefore, due to this feature, OEMs majorly use radar technology for various systems such as automated parking systems, blind spot detection systems, and collision avoidance systems.
- Europe held dominant position in the market in 2018 and is projected to retain its dominance throughout the forecast period. Germany, France, Italy, Spain, and the U.K. are some of the major growth engines of the automotive collision avoidance system market in this region. Increasing government regulations for vehicle safety creates a conducive environment for growth of the market in the region. For instance, in 2014, The European transport safety council announced that it is mandatory for OEMs to install anti-lock braking systems, electronic stability control, and seat-belt reminders in new vehicles. Asia Pacific is expected to be the fastest growing region in the market during the forecast period, owing to increasing adoption of safety features in vehicles in emerging economies such as India and China.
- Some of the major companies operating in the global automotive collision avoidance system market include Alstom SA, Autoliv, Inc., Denso Corporation, General Electric Company, Hexagon AB, Honeywell International, Inc., Robert Bosch GmbH, Rockwell Collins, Inc., Siemens AG, and Wabtec Corporation