Oct. 14, 2015—The Global Collision Avoidance System Research report forecasts market growth at 22 percent by 2019. The 2015–2019 report features Continental, Delphi Automotive, Robert Bosch and TRW Automotive as major companies active in the industry along with AWTI, Ford Motor, GENTEX, Preco Electronics, Renault, Safe Drive Systems, Subaru of America, and Toyota as other prominent vendors.
The complete 79-page report analyzing the collision avoidance system market is available here.
"The automotive industry endeavors to attain the goal of zero road fatalities combined with sufficing consumer safety demands and government regulations, and is propelling the adoption of collision avoidance and driver assistance systems. As a result, automobile manufacturers in collaboration with automotive safety and automotive camera manufacturers are integrating radar and cameras, which integrates video sensing, radar sensing, and data fusion in a single module," said an analyst commenting on this latest report on collision avoidance system market.
The reports shows that automobile safety is considered one of the key drivers in the development of advanced safety systems and collision avoidance system market. Advanced safety and security features are no longer limited to premium vehicles. Consumers are more aware of safety systems and technology and are taking more of an interest in improving the safety systems for their vehicles. Because of this, electronic equipment such as cameras and sensors are now being installed on many vehicles, including entry-level.
The 2015 Collision Avoidance System Market Research states that present day collision avoidance systems do not cater to all types of accidents because of functionality and technical limitations of each system. OEMs are consistently focusing and investing in research and development to increase and enhance the functionality of collision avoidance systems to cater to all types of accidents. However, these systems are still not available, which is creating a loophole in the market and hindering industry growth.
To calculate collision avoidance system market size, the research considers revenue generated from the sale of forward collision warning (FCW) systems, lane departure warning systems (LDWS), adaptive cruise control (ACC) systems, and blind spot detection (BSD) systems by both original equipment manufacturers (OEMs) and aftermarket. These collision avoidance systems are referred to as life savior technology, because they help in reducing the severity of accidents.