July 14, 2024

Adaptive Cruise Control (ACC) Is The Largest Segment Driving The Growth Of Automotive Collision Avoidance System Market

Market Overview:

Automotive collision avoidance system helps in preventing accidents by providing real-time crash alerts and emergency braking. This system uses sensors, cameras and radars to detect obstacles and alert the driver to take necessary actions to avoid collision. It offers safety and convenience to drivers on the road.

Market key trends:

One of the key trends in the automotive collision avoidance system market is the increasing demand for adaptive cruise control (ACC) technology. ACC uses sensors to maintain a safe distance from vehicles ahead without requiring any actions from the driver. It automatically regulates the speed of the vehicle to match traffic flow and can bring the car to a complete stop without driver intervention. As ACC improves comfort and safety on long drives, its adoption is growing rapidly among consumers worldwide. Moreover, with more automobile manufacturers integrating ACC as a standard feature, especially in luxury cars, its demand is projected to rise substantially over the coming years.

Market key trends:
The automotive collision avoidance system market is witnessing increased adoption of radar and camera sensors for advanced driver assistance systems (ADAS). Collision avoidance systems are evolving with the integration of multiple sensors, central computing system, night vision, positioning sensors and radar to deliver comprehensive safety solution. ADVANCED Collision avoidance systems with features such as adaptive cruise control, automatic braking, blind-spot detection are being rapidly incorporated in mainstream vehicles to prevent accidents.

SWOT Analysis
Strength: Integrated advanced sensors enable detection of potential collision from longer distances. This provides drivers sufficient time for emergency response.
Weakness: High costs involved in upgrading collision avoidance technologies makes adoption challenging for budget-conscious customers.
Opportunity: Growing demand for autonomous vehicles provides opportunity for sensor manufacturers and OEMs to develop sophisticated collision avoidance controls.
Threats: Stringent regulatory frameworks and data security issues pose challenges for technology developers and OEMs. Delays in infrastructure upgrade can impact autonomous vehicle timeline.

Key Takeaways

The Global Automotive Collision Avoidance System Market Demand is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing consumer demand for advanced driver assistance systems (ADAS) and active safety features. North America dominates the automotive collision avoidance system market currently owing to large base of premium and luxury vehicles integrated with advanced collision avoidance technologies. Key players operating in the automotive collision avoidance system are Alstom SA, Autoliv, Inc., Denso Corporation, General Electric Company, Hexagon AB, Honeywell International, Inc., Robert Bosch GmbH, Rockwell Collins, Inc., Siemens AG, and Wabtec Corporation. Regional analysis: North America holds the major share of the global automotive collision avoidance system market currently. Asia Pacific is expected to witness fastest growth in the market led by China and India on account of rising vehicle production and sales.

Key players: Key players operating in the automotive collision avoidance system are Alstom SA, Autoliv, Inc., Denso Corporation, General Electric Company, Hexagon AB, Honeywell International, Inc., Robert Bosch GmbH, Rockwell Collins, Inc., Siemens AG, and Wabtec Corporation.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it