Collision avoidance system market was valued at US$9.186 billion in 2017 and is projected to expand at a CAGR of 13.20% over the forecast period to reach US$19.332 billion by 2023. Rising number of road accidents worldwide is the major driver of collision avoidance system market. Growing focus on workers’ safety in industries such as material handling is further boosting the demand for collision avoidance systems. The potential for the expansion of these systems on account of growing emphasis on car safety, such as Global New Car Assessment Programme (NCAP), to mitigate or prevent motor vehicle crashes is further contributing to the market growth. However, high cost of these systems is currently impeding its adoption, thus restrainting the overall market growth. Geographically, Europe holds the largest market share of global collision avoidance system market owing to the high adoption rate of these systems in the EU countries supported by mandatory regulations mandating the deployment of these systems.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the collision avoidance system value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Collision Avoidance System market.
Major industry players profiled as part of the report are Delphi Technologies, Robert Bosch GmbH, Denso Corporation, Autoliv Inc., and Rockwell Collins among others.
Collision avoidance system market has been analyzed through following segments:
o Forward Collision Warning
o Reverse Collision Warning
o Adaptive Cruise Control (ACC)
o Multi-Collision Brake
By End Use Industry
o Material Handling
o Aerospace and Defense
o North America
o South America
o Middle East and Africa