Global Collision Mitigation Technology Market
Posted by manisha on March 16th, 2021
Global Collision Mitigation Technology Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow 7.1% from 2019 to 2027, reaching nearly US$ XX Bn.
The report study has analyzed the revenue impact of the COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Global Collision Mitigation Technology Market: Market Overview
Collision mitigation technology is a forward-looking technology based on adaptive cruise control with active braking. It improves vehicle safety by preventing rear-end collision. This technology provides audio / visual warning that helps the driver to correct his driving behavior. The collision mitigation technology not only warns the driver but also initiates braking, thus preventing collision.
Global Collision Mitigation Technology Market: Market Dynamics
Adoption of advanced technology in terms of safety purpose in automotive such as parking assistance, adaptive cruise control is expected to increase the demand of collision mitigation technology. In addition, increase in penetration of internet and wireless connectivity are primarily driving the market. The advantage of this technology is to reduce rear-end crashes and reduce severity of accidents, anticipated to rise the global collision mitigation technology market over the estimated period. In addition, a significant growth of manufacturing sector and automotive sector in emerging nation increases the sales of end-vehicles. Rapid economic improvement of Asia Pacific region is boosting the sales of commercial vehicle, in turn rising the collision mitigation technology market. These are the major factors which anticipated to drive the global collision mitigation technology market during the forecast period.
This technology uses many other avoidance systems such as stability control, ABS, and ACC which increase the overall cost of this technology, hence higher cost of technology and maintenance cost work as retrain for this market. In developing nations such as India, Mexico, China due to limited connectivity on highway, the devices are not connected to each other which hinder the growth of the market. Lack of adoption rate of advanced technology by middle class people due to high cost is a key factor that works as a restrain for global Collision Mitigation Technology market during the forecast period.
Global Collision Mitigation Technology Market: Market Segmentation
The radar segment of technology is dominating the global collision mitigation technology market as it is the most preferred in case of detection systems that helps to measure the distance of obstacles. The ultrasonic are especially used in vehicle parking assistance systems. Rise in population of emerging nations like India and China, increases the sales of passenger vehicle, in turn passenger vehicle segment of vehicle type is subjected to the highest growth rate during the forecast period, the demand of light vehicle and heavy vehicle also increases. Competition among the automaker is to offer safety features to gain competitive edge, so that the OEMs segment of sales channel is likely to dominate the global collision mitigation technology market.
Global Collision Mitigation Technology Market: Regional Analysis
North America is dominating the global collision mitigation technology market owing stringent standards to road safety. Increasing vehicle security and safety norm increases collision mitigation technology market. The countries such U.S and Canada are well developed and the disposable income of people in this region is high. High adoption rate of new technology and automation in this region. The manufacturer spends a large revenue on research and development with focusing on the comfort of a customer. These are the major factors booming the demand of battery monitoring unit in this region.
The objective of the report is to present a comprehensive analysis of the Global Collision Mitigation Technology Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
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Global Collision Mitigation Technology Market, by Technology
• Light Commercial Vehicle
• Asia Pacific
• Delphi Automotive LLP
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About the Authormanisha
Joined: March 12th, 2021
Articles Posted: 20
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