SAN FRANCISCO, February 8, 2017 /PRNewswire/ --
The 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.
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The increasing awareness among consumers and extensive R&D by market players have fueled 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.
Browse full research report with TOC on "Collision Avoidance System Market Analysis By Technology (Radar, Camera, Ultrasound, LiDAR), By Application (ACC, BSD, FCWS, LDWS, And Parking Assistance), By Region, And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/collision-avoidance-system-market
Further key findings from the report suggest:
Browse related reports by Grand View Research:
Grand View Research has segmented the global collision avoidance system market based on technology, application, and region:
Read Our Blog: Collision Avoidance Systems: Greater emphasis on safety and adherence to regulations to boost the market growth
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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Grand View Research, Inc
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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