Dublin, Oct. 28, 2024 (GLOBE NEWSWIRE) -- The "Collision Avoidance System Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The collision avoidance system market is expected to grow at a CAGR of 8.42%, reaching a market size of US$77.799 billion in 2029 from US$51.942 billion in 2024. 
The market for anti-collision systems has grown as a result of rising consumer awareness, updated safety agency ratings, and continuous research and development by leading industry players. For example, ZF, Mobileye, and Toyota Motor Corp. worked together to develop and provide advanced driver assistance systems (ADAS). The integration of these systems into different vehicle platforms throughout the Toyota Group will guarantee improved driving assistance and safety features for cars to come.
Collision Avoidance Market Drivers:
A growing number of traffic crashes are expected to fuel market expansion
The rise in traffic jams and accidents results from various factors, including but not limited to drivers' distractions, tiredness or fatigue, and lack of proper teamwork, which can cause crashes and harm other people's lives. This makes collision avoidance technologies, which drivers can use to avoid crashes or even stop them altogether on the front and back sides of vehicles, more crucial. Another reason why the global market for these devices is growing is that car insurance is becoming cheaper with the introduction of such systems.
Collision Avoidance Market Geographical Outlook
Asia Pacific is expected to hold a significant market share in the forecast period.
The disposable income of consumers in the Asia Pacific region has been increasing in nations like China, India, Indonesia, and Thailand. Customers' rapid adoption of collision avoidance systems has enabled market growth in this area.
Currently, some automakers are integrating parking assistance systems that used to be exclusive to a segment with higher prices into their mid-range or smaller vehicles to distinguish themselves from the competition. The use of ADAS systems is just beginning in price-sensitive nations such as India because buying a car requires money, while collision avoidance systems do not appear to make much difference in terms of safety; hence, people do not know them well enough. However, there have been various awareness campaigns, government initiatives, and programs; hence, this trend has been improving steadily with time.
Reasons for buying this report::
- Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub- segments.
- Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
- Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments.
- Actionable Recommendations: Utilize the insights to exercise strategic decision to uncover new business streams and revenues in a dynamic environment.
- Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises
Report Coverage:
- Historical data & forecasts from 2022 to 2029
- Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
- Competitive Positioning, Strategies, and Market Share Analysis
- Revenue Growth and Forecast Assessment of segments and regions including countries
- Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $51.94 billion |
| Forecasted Market Value (USD) by 2029 | $77.8 billion |
| Compound Annual Growth Rate | 8.4% |
| Regions Covered | Global |
Some of the key companies profiled in this Collision Avoidance System Market report include:
- Robert Bosch Gmbh
- Denso Corporation
- Autoliv Inc.
- ZF Friedrichshafen AG
- Becker Mining
- Collins Aerospace, A United Technologies Company
- Hexagon AB
- Continental AG
- Infineon Technologies AG
- Panasonic Holdings Corporation
- Hyundai Motor Company
- Mossy Toyota
Key Market Segmentation:
The collision avoidance system market is segmented and analyzed as below:
By Type
- Forward Collision Warning
- Reverse Collision Warning
- Adaptive Cruise Control (ACC)
- Multi-Collision Brake
- Others
By Technology
- Radar
- LiDAR
By Industry Vertical
- Automotive
- Material Handling
- Aerospace and Defense
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- India
- China
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
For more information about this report visit https://www.researchandmarkets.com/r/59mcq6
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