Global Collision Avoidance Sensors Market Growing
November 6, 2018—The global collision-avoidance sensors market size is expected to reach $18.97 billion by 2025, displaying a 21.2 percent CAGR during the forecast period, according to the recently released Collision Avoidance Sensors Market Analysis Report 2018.
Integration of anti-collision systems in mass-market vehicles and updated safety ratings of agencies are expected to fuel market growth over the next few years.
Increasing consumer awareness and extensive focus on research and development by industry players have been major growth drivers for the market. Installation of collision-avoidance systems allows vehicles to perform autonomous and semi-autonomous decision-making.
Growing demand for vehicle security by consumers and government vehicle safety regulatory agencies is also expected to drive the growth of the collision avoidance sensors market.
Stringent regulatory and legal standards have mandated the addition of sensors to enhance safety features in vehicles. These are expected to drive demand for collision avoidance sensors over the forecast period.