"The global collision avoidance system market will reach USD 18.97 billion by 2025, says a 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. Accounting for over 33% of the market, Europe is expected to continue its market lead.
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.
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, the market researcher believes.
The key industry players in the market for Collision Avoidance Systems include Bosch, Continental, Delphi, Denso, Autoliv, and ZF subsidiary TRW.”