Collision Avoidance System Market Share

North American Market Forecast

The market share of collision avoidance system in North America, amongst the market in all the other regions, is projected to be the largest with a share of about 34% by the end of 2037. The market's expansion can be traced mostly to an increase in the number of car incidents and road accidents. According to the National Highway Traffic Safety Administration, in the year 2022, 38,824 people will be killed in motor vehicle accidents in the United States. On the other side, increased bus deployment is expected to drive market expansion in the region. Zero-emission bus deployment in the United States is predicted to expand by around 27% by 2021, reaching over 3,500. In addition, there have been presence of key players in the region providing advanced mid-air collision solutions, which is estimated to rise the market’s growth in the region.

Europe Market Forecast

The European collision avoidance system market is estimated to be the second largest, registering a share of about 26% by the end of 2037. The government's measures to decrease traffic accidents have contributed significantly to the market's growth. The European Commission intends to save at least 140,000 lives and avoid at least 140,000 serious injuries by 2038 by increasing passenger, pedestrian, and bicycle safety across the EU. On the other side, market growth in the region is projected as a result of increased car crashes, which are anticipated to result in a greater number of individuals dying in road accidents. According to Eurostat estimates, around 18, 800 individuals were killed in road accidents in the EU in 2020, with 44.2% being passenger car drivers or passengers and 19.2% being pedestrians. Furthermore, 85 individuals were killed in traffic accidents in 2020.

APAC Market Statistics

Further, the market in the Asia Pacific, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The market's expansion can be traced mostly to increased government measures to improve automotive brake systems and maintain vehicle security. According to India's Ministry of Road Transport and Highways, heavy vehicles must now have modern braking systems. Furthermore, existing vehicles will be required to accept the new standards starting in April 2021, followed by all new vehicles starting in April 2022. Furthermore, increased car sales in the region are anticipated to boost market growth in Asia Pacific. China's auto sales upsurged by 9.5% by 2022, with electric vehicle purchases nearly doubling. Furthermore, in 2021, around 56 million passenger cars were sold in China.