Auto Collision Avoidance Systems Global Market to Grow
June 28, 2018—The global automotive collision avoidance system market is predicted to grow at a CAGR of 23.2 percent during the period 2018-2022.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is the collision avoidance technology with active steering control for commercial vehicles. Advanced braking technologies are witnessing continuous innovation and development in terms of design and functionality. Automotive component suppliers around the world are leveraging their technologies and competitive advantage in the development of such systems, thereby making the market more competitive.
According to the report, one of the major drivers for this market is the growing emphasis on advanced safety systems in automobiles. The automotive collision avoidance system is revolutionizing the concept of safety in the automotive industry. The development of collision avoidance systems for automotive applications, which includes active safety system, plays a crucial role in making vehicles and roads safer for both vehicle occupants and pedestrians.
Further, the report states that one of the major factors hindering the growth of this market is the technical issues leading to poor reliability and vehicle recalls. Most of the these technologies and systems involve a high interaction of electronic content, which invariably makes these systems more vulnerable to faults and malfunctions.