Global Automotive Collision Avoidance Market by Technology, Application, by Type, Region and Segment, Forecasts 2020–2026

Global Automotive Collision Avoidance Market is valued to grow at a healthy CAGR of 22.5% over the forecast period 2020–2026. Growing demand for autonomous vehicles, need for improving road safety to prevent accidents and reduce injuries coupled with government regulations and mandates to improve automobile safety.

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Increase in demand for automated vehicles plays a vital role in driving the automobile collision avoidance system market. In addition, improved visibility & enhanced safety supplements the market. However, high installation cost hampers the growth of the market to a greater extent. On the other hand, an increase in automotive safety norms and electronic integration in automotive is projected to create greater opportunities for market expansion.

Market Trends, Drivers, Restraints and Opportunity:

Technological advances in the vehicle safety system and innovative braking systems is anticipated to enhance the market for automotive safety. In addition, decrease in crash statistics demonstrate effectiveness in anti-crash systems in vehicles
Upgrades to national highways with proper guidance on speed limit have played a crucial role in determining the cut-off speed for a vehicle in the production phase. Effective turnaround time and lead time are some major growth highlights
Moreover, rise in demand for autonomous vehicles is driving the commercial growth for automotive collision avoidance system within self-driven cars. In addition, it is anticipated to create immense growth opportunities owing to the presence of key players for autonomous vehicles
However, low awareness, rising costs and minimal standard testing and procedures somehow restrict the market growth in the forecast span