Impact of Covid-19 Outbreak on Automotive Collision Avoidance System Market

30/giu/2020 09:13:59 Automotive Market Research Reports Contatta l'autore

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Market Research Future (MRFR), in its newly published research report, asserts that the global automotive collision avoidance system market is booming and expected to grow exponentially over the review period, recording a substantial market valuation and a healthy 8% CAGR in the forecast period.

Drivers and Restraints

The rising awareness among consumers and original equipment manufacturers will directly impact the market and expand the market value of the global market for the automotive collision avoidance system. Favorable government policies, such as the advanced car assessment program in the U.S., will play a crucial role in the advancement of the global automotive collision avoidance system market. An increase in the sales of the luxury vehicle will enhance the demand for the innovative safety features such as collision avoidance system in automobiles. This will lead to the growth of the automotive collision avoidance system market during the forecast period. An increase in the purchasing power and disposable income of the consumers increases the sales of the luxury automobile, which further increases the demand for safety systems such as the collision avoidance system over the forecast period.

Segmental Analysis

The global market for automotive collision avoidance system is segmented on the basis of process type, vehicle type, sales channel, and region. On the basis of type, the market for automotive collision avoidance system has been divided into blind-spot detection, adaptive cruise control, autonomous emergency braking, and lane departure warning. Based on the technology, the market has been segmented into radar, LIDAR, and camera. On the basis of the sales channel, the market has been bifurcated into OEM and aftermarket. On the basis of vehicle type, the automotive collision avoidance system market has been segregated into a commercial vehicle, passenger car, and electric vehicle.

Regional Analysis

The geographical analysis of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (Latin America, the Middle East, and Africa).

The global market for automotive collision avoidance system in Europe is slated to lead the market in terms of value and volume. In Europe, Germany is poised to hold the highest growth rate in 2017. Moreover, there is a rapid rise in sales of a luxury vehicle in Europe, and an increase in the need for the deployment of a safety system will raise the demand for automotive collision avoidance systems in cars. Additionally, stringent government regulations concerning vehicle safety will drive the demand for enhanced safety systems such as collision avoidance systems including consumers and OE market players.

North America is poised  to grow at a substantial CAGR during the assessment period. In North America, increasing participation of the automobile associations and government of the U.S. and Canada in the development of the automotive collision avoidance system will significantly add to the market growth in terms of value and volume. An increase in government regulation and programs such as the advanced car assessment program in the U.S. will fuel the demand for the automotive collision avoidance system during the review period.

Asia-Pacific is expected to play a significant role in increasing the presence of the automotive collision avoidance system owing to the presence of China, Japan, and India. An increase in the presence of manufacturers in the Asia-Pacific will reduce the high cost of the product and influence the sales of the automotive collision avoidance system over the review period. The rest of the world segment that consists of the Middle East & Africa and South America, is poised to generate the highest revenue and exhibit the highest CAGR in 2017 and over the forecast period.

Competitive Analysis

The major market players operating in the global market as identified by MRFR are Robert Bosch GmbH (Germany), Aptiv Plc (Republic of Ireland), General Electric Company (US), and Honeywell International, Inc. (US)., Hexagon AB (Sweden), Siemens AG (Germany), Denso Corporation (Japan), Alstom SA (France), Rockwell Collins, Inc. (US), and are among others.

Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

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