Global Collision Avoidance System Market is expected to reach USD 18.97 billion by 2025, according to a new study conducted by Grand View Research, Inc. The updated ratings of safety agencies and incorporation of anti-collision systems in mass-market models are expected to propel the market growth over the next six years.
The increasing awareness among consumers and extensive R&D by market players have fuelled the market growth. Collision avoidance systems enable vehicles to carry out semi-autonomous and autonomous decision-making. The rising need for security from consumers and governments is also expected to drive the collision avoidance systems market growth.
The recent developments in the sensor technology are oriented toward making highly sophisticated devices and augmenting them with various parts of an automobile. Anti-collision systems enable automotive OEMs to integrate additional intelligence to achieve the goal of an autonomous car.
Strict legal and regulatory standards have mandated the inclusion of sensors in motor vehicles. This is further estimated to drive the collision avoidance systems market. However, the high costs of long-range radars and LiDAR-based systems may restrain the market growth as low-price carmakers may abstain from adding onto the cost of vehicles.
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Further key findings from the study suggest:
View Related Blog on Collision Avoidance System Market by Grand View Research Report: http://www.grandviewresearch.com/blog/collision-avoidance-systems-market-size-share
Grand View Research has segmented the global collision avoidance system market based on technology, application, and region:
Collision Avoidance System Technology Outlook (Revenue, USD Million, 2014 – 2025)
Collision Avoidance System Application Outlook (Revenue, USD Million, 2014 – 2025)
Collision Avoidance System Regional Outlook (Revenue, USD Million, 2014 – 2025)
The Middle East and Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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