The Europe region holds the dominant position in the Automotive Collision Avoidance System Market in 2016 and is projected to retain its dominance throughout the forecast period, followed by North America and Asia Pacific.
Automotive Collision Avoidance System Market
PR-Inside.com: 2018-06-13 14:02:59
A lot of the vehicular accidents reported worldwide can be effectively curbed by the implementation of efficient safety systems such collision avoidance systems. These systems are increasingly being deployed in various applications such as aerospace, marine, industrial robotics, and unmanned autonomous vehicles to ensure enhanced safety. Collision avoidance system primarily integrates radar and/rear- and front-mounted cameras to constantly monitor the vehicular traffic immediately ahead and behind the vehicle. The system constantly tracks scans the immediate surroundings of the automotive and alerts the driver if it detects any impending collision or if the vehicle veers off the lane. In case the driver fails to respond, it may deploy emergency brakes in order to avert a collision.
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The rising installation of sensors technology in automotive and increasing road accidents are some of the major factor for the growth of collision avoidance system in automotive industry. According to World Health Organization, more than 1.2 million people die due to road accident each year and 90% of the deaths occur in middle income and low income economies. Moreover, the high cost of long rage radar and LiDAR based technology may hinder the market growth.
Installation of autonomous emergency braking system uplifted the demand for collision avoidance systems
Autonomous emergency braking systems are deployed in advanced collision avoidance systems. As the name suggests, autonomous emergency braking system automatically applies the brakes in order to prevent a collision. The system applies either partial or fully braking force according to alerts detected by sensors. In addition, the government regulation for mandatory installation of autonomous emergency braking system in vehicles have also accelerated the market. for example: In 2016, U.S. Department of Transportation's National Highway Traffic Safety Administration have officially announced that automakers in the U.S. have to make the autonomous emergency braking system a standard feature for all cars and trucks by 2022.
Europe automotive collision avoidance system market holds the dominant position in 2016.
On the basis of geography, the automotive collision avoidance system market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The Europe region holds the dominant position in the market in 2016 and is projected to retain its dominance throughout the forecast period, followed by North America and Asia Pacific. Germany, France, Italy, Spain, and the U.K. are some of the major countries which drives the automotive collision avoidance system market in this region. According to European Commission, in 2016, over 46 percent of fatalities reported in the region were due to road accidents. This in turn, positions the region as a key market for collision avoidance systems.
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The Asia Pacific automotive collision avoidance system market is projected to exhibit the highest CAGR over the forecast period. The bustling automotive sector in India, China, and Japan position these as key growth engines of the automotive collision avoidance system market in this region. The government regulation for safety concerns and to reduce the road accidents become one of the major growth factor for the market in Asia Pacific region. For Example: In 2016, according to Indian ministry of road transport & highways, it is mandatory for the OEMs to install anti-locking brake system on heavy vehicles.
Key Companies- Global Automotive collision avoidance system Market.
Some of the major companies in the global automotive collision avoidance system market are 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