The latest report from Reports and Reports indicates that the global market for collision avoidance systems is expected to grow at a CAGR of 7.74 per cent between 2015 and 2020. This report segments the collision avoidance system market comprehensively and provides a close approximation of the size of the overall market and its sub-segments across verticals and regions.
The worldwide collision avoidance systems market is expected to be driven by the growing focus of consumers and OEMs on safety features of vehicles, government regulations, influence of the New Car Assessment Programs (NCAPs), and encouragement from insurance companies by reducing the premium for vehicles installed with collision avoidance systems.
The market in the construction and mining sector is expected to grow rapidly. The application in the automotive sector accounted for the largest share of the collision avoidance systems market in 2014 and this trend is expected to continue during the forecast period. However, the increasing installations of collision avoidance systems in the construction and mining sector would provide rapid growth between 2015 and 2020, especially in RoW and Asia-Pacific regions.
RoW and Asia-Pacific is expected to be the fastest-growing markets. Europe accounted for the largest share of the global collision avoidance system market in 2014 due to strict regulations mandating the installation of certain collision avoidance systems in various applications. North America accounted for the second largest collision avoidance system market in 2014 and is expected to surpass Europe by 2016. RoW and Asia-Pacific regions are expected to offer high growth potential for the collision avoidance systems during the forecast period in the automotive and construction and mining sectors.
The report describes market dynamics that include key drivers, restraints, challenges, and opportunities with respect to the collision avoidance system market and forecasts the same till 2020. This global report provides a detailed view of the market based on device, technology, and region. The report also profiles the prominent players in the market along with their key growth strategies. The competitive landscape of the market analyses a large number of players with their market share. The market is witnessing numerous collaborations and partnerships across the value chain, to cater to various industries in different regions.
The worldwide collision avoidance systems market is expected to be driven by the growing focus of consumers and OEMs on safety features of vehicles, government regulations, influence of the New Car Assessment Programs (NCAPs), and encouragement from insurance companies by reducing the premium for vehicles installed with collision avoidance systems.
The market in the construction and mining sector is expected to grow rapidly. The application in the automotive sector accounted for the largest share of the collision avoidance systems market in 2014 and this trend is expected to continue during the forecast period. However, the increasing installations of collision avoidance systems in the construction and mining sector would provide rapid growth between 2015 and 2020, especially in RoW and Asia-Pacific regions.
RoW and Asia-Pacific is expected to be the fastest-growing markets. Europe accounted for the largest share of the global collision avoidance system market in 2014 due to strict regulations mandating the installation of certain collision avoidance systems in various applications. North America accounted for the second largest collision avoidance system market in 2014 and is expected to surpass Europe by 2016. RoW and Asia-Pacific regions are expected to offer high growth potential for the collision avoidance systems during the forecast period in the automotive and construction and mining sectors.
The report describes market dynamics that include key drivers, restraints, challenges, and opportunities with respect to the collision avoidance system market and forecasts the same till 2020. This global report provides a detailed view of the market based on device, technology, and region. The report also profiles the prominent players in the market along with their key growth strategies. The competitive landscape of the market analyses a large number of players with their market share. The market is witnessing numerous collaborations and partnerships across the value chain, to cater to various industries in different regions.
