Automotive Collision Avoidance System Market to Generate a Revenue of US$ 15.4 Billion by 2025
The Automotive Collision Avoidance System market was valued at US$ 3.9 billion in 2016 and is projected to reach US$ 15.4 billion by 2025, according to a new market research report 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, Tire Pressure Monitoring System), by Technology (Radar, Lidar, Camera, Ultrasonic) and Geography-Global Forecast to 2025by Coherent Market Insights.
Key Takeaways of the Automotive Collision Avoidance System Market:Global Automotive Collision Avoidance System market was valued at US$ 3.9 billion in 2016 and is projected to reach US$ 15.4 billion by 2025, exhibiting a CAGR of XX.X% over the forecast period.
On the basis of device, the autonomous emergency braking segment is projected to exhibit the highest CAGR over the forecast period. The increasing government regulation for vehicle safety concerns have accelerated the demand for autonomous emergency braking in the market for example: In 2016, U.S. Department of Transportation’s National Highway Traffic Safety Administration have officially announced that the united states automaker have to make the autonomous emergency braking system a standard feature for all cars and trucks by 2022.
On the basis of technology, the radar segment held the dominant position in 2016 and is projected to retain its dominance throughout the forecast period. The radar technology have a high capability to detect the signals that strongly reflect electromagnetic radiation. Hence, due to this the feature OEMs majorly uses radar technology for various systems such as automated parking systems, blind spot detection systems, collision avoidance systems etc.
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The Europe region holds the dominant position in the market in 2016 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. The increasing government regulations for vehicle safety concerns creates a favorable environment for growth of the market in the region. For example: in 2014, The European transport safety council have announced that its mandatory for the OEMs to install automated emergency braking systems, anti-lock braking systems, electronic stability control and seat-belt reminders in new vehicles.
Some of the major companies in the global are 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
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