Collision Avoidance System Market worth 50.38 Billion USD by 2020

Collision avoidance systems have been gaining traction in several industries, such as automotive, aerospace, railway, marine, construction & mining, and robotics, worldwide. New car assessment programs (NCAPs) and other stringent regulations have been supporting vehicle manufacturers to integrate safety technologies in their vehicles. In addition, NCAPs have been creating awareness among customers about the importance of safety features and helping them choose cars that comply with the mandated safety norms. The increasing stringent regulations in developing countries are expected to provide potential market opportunities for collision avoidance systems during the forecast period.

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 With more and more new vehicles on the road, the improvements in safety systems and features have been driving the growth of the market for collision avoidance systems at a considerable rate. For instance, in the U.S., the availability of safety features in automobiles has risen in 2014 (23%) from 2005. In spite of the growing number of automobiles on the road, the steady decline in the number of fatalities in road accidents indicates the increasing safety measures in automobiles, which would further fuel the growth of the market for collision avoidance systems used in automobiles. In 2010, the UN Road Safety Collaboration developed a global plan, Decade of Action for Road Safety 2011–2020, with a goal of stabilizing and then reducing the forecasted level of road traffic fatalities worldwide by increasing activities conducted at national, regional, and global levels. According to the World Health Organization, about 1.24 million people in the world were killed in road accidents in 2010. A majority of these fatalities were in the middle-income countries.

Several countries, especially North American and European countries, have implemented and enforced effective road safety legislations within a relatively short timeframe and have achieved a low-road traffic fatalities compared to other countries, especially the middle-income countries. These results have forced developing countries to implement stringent road safety legislations to ensure the safety of passengers.

Emerging trends reveal an increasing demand for safety systems from countries such as India, China, Russia, and Brazil in the global automotive safety systems market. Since the market for safety systems such as airbags and anti-lock braking system (ABS) in developed regions is maturing and becoming saturated, OEMs and suppliers are inclined toward emerging markets. Traffic congestion is already high in emerging markets such as China, India, Thailand, and Brazil, which increases the chances of auto-collision injuries and spurs the demand for safety systems in passenger cars. Growing demand for comfort driving; rising emphasis on safety; and the adoption of safety measures in the U.S., Europe, and other developing countries, including China and India, provide an immense opportunity for the automotive safety systems market. Inclusion of various advanced driver assistance systems by NCAPs in their testing program would provide potential opportunities for the global active safety systems market.

The detailed analysis of the collision avoidance systems market is done in the market research report – “Collision Avoidance Systems Market– Global Trend & Forecast to 2020”. The report forecasts that the collision avoidance systems market is expected to reach USD 50.38 billion by 2020, growing at a CAGR of 7.74% between 2015 and 2020. 

Report Information : http://www.marketsandmarkets.com/Market-Reports/collision-avoidance-system-market-127445458.html

The report provides the market size and forecast of collision avoidance systems with broader segmentation – by Device, Technology, Application (Automotive, Aerospace, Railway, Marine, and Construction & Mining), and Region (North America, Europe, APAC, and RoW).

The market for collision avoidance systems is currently dominated by major players operating worldwide. Some of the major players are Robert Bosch GmbH (Germany), Delphi Automotive PLC. (U.S.), Denso Corporation (U.S.), Mobileye N.V. (Netherlands), Autoliv, Inc. (U.Sand Siemens AG (Germany), Alstom SA (France), General Electric Co. (U.S.), Saab AB (Sweden), Walter Becker SA (France), and Hexagon AB (Sweden).