Market for Front Collision Warning and Mitigation Systems to Reach $29.5 Billion by 2020
London, United Kingdom - 07 Apr 2014
ABI Research forecasts that the global market for Collision Warning and Mitigation Systems will reach $29.5 billion by the end of 2020 with the majority of the market value being accounted for by vehicles sold in the Asia-Pacific region.
"During the past 12 to 18 months, there has been a marked increase in awareness of the potential of advanced driver assistance systems such as Collision Warning and Mitigation Systems (CWM) among car OEMs, driven mainly by the decision of ratings agencies such as EuroNCAP to include 'active' systems in their latest test specifications," comments Dominique Bonte, VP and practice director, at ABI Research.
Insurance claims data suggest that CWM systems can reduce rear-end crashes by one quarter or more and lead to a significant reduction in injuries. Although brands such as Audi, BMW, Mercedes-Benz and Volvo have been offering CWM systems for several years, such systems are now being offered for the first time by an increasing number of mass-market OEMs such as Hyundai, Nissan, Mitsubishi, PSN, Renault, Skoda, and Volkswagen in select 2014/15 models.
In addition, CWM systems are becoming increasingly more sophisticated with some capable of detecting pedestrians and bicycles even in poor visibility conditions and at night. However, tests carried out in both Europe and the United States demonstrate that there is often substantial differences in performance between CWM systems offered by various OEMs, due mainly to the type and number of sensors employed.
On the other hand, seeing one car avoiding a collision whereas another ploughs into the car in-front is a powerful image that will surely play a strong role in influencing the purchasing decisions of any safety-conscious buyer, particularly parents.For those OEMs who score well in these types of tests this is clearly a marketing opportunity to be leveraged to the hilt, whilst for the others it is a wake-up call, particularly those OEMs that do not offer any of these systems at the present time.
These findings are part of ABI Research's Automotive Safety and Autonomous Driving Market Research which includes detailed installed base and forecasts of ADAS systems by regions.
ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies. From offices in North America, Europe and Asia, ABI Research's worldwide team of experts advises thousands of decision makers through 70+ research and advisory services. Est. 1990. For more information visit www.abiresearch.com, or call +1.516.624.2500.