Collision Avoidance System Market Analysis

Type (Adaptive Cruise Control, Parking Assistance, Lane Departure Warning, Autonomous Emergency Braking)

The market is also segmented and analyzed for demand and supply by type into adaptive cruise control, parking assistance, lane departure warning, autonomous emergency braking, and others. Amongst these three segments, the parking assistance segment is expected to garner a significant share over the forecast period. The segment is expanding as a result of the growing difficulties consumers are having with basic car parking. Moreover, owing to an increase in the number of people and automobiles, parking space in major cities has either remained the same or decreased. Where there is a shortage of affordable land, such as in large cities, where parking demand is increasing, issues are more noticeable. The increase in car collisions is the main cause of the market expansion. In a parking lot or garage, a car accident happens one out of every five times in the world. Additionally, it is estimated that more than 50,000 crashes in parking lots happen worldwide each year, resulting in hundreds of fatalities and thousands of injuries. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.

Application (Marine, Automotive, Aerospace, Railway, Construction)

The global collision avoidance system market is segmented and analyzed for demand and supply by application into marine, automotive, aerospace, railway, construction, and others. Out of these types of collision avoidance system, the automotive segment is estimated to gain the largest market share by the year 2037. The growth of the segment can be attributed to the surging sale of passenger as well as commercial cars, along with the surging disposable income of the people. Moreover, there has been a rise in sales of sports utility vehicles and luxury cars, that is further expected to boost the growth of the market over the forecast period. In addition, the increasing demand for autonomous cars across the globe is also expanding the demand for collision avoidance system.

Our in-depth analysis of the global market includes the following segments: