Collision Mitigation Technology Market – Competitive Insight, Key Drivers and Forecast 2018-2026
According to a new report published by Transparency Market Research, the collision mitigation technology market will record significant growth owing to the highly popular intercontinental trucking activities in North America and Europe. The report titled, “Collision Mitigation Technology Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026,” anticipates that the global market will grow remarkably during the forecast period.
Collision mitigation technology improves vehicle safety by reducing or preventing rear-end collisions. The collision mitigation technology is a radar-based, forward-looking technology, based on adaptive cruise control (ACC) with active braking. When a vehicle comes within a predefined distance of another vehicle or obstacle, the collision mitigation technology provides an audible and /or visual warning that enables the driver to decelerate or correct his driving behavior. When a vehicle intrudes its preset safe distance, the collision mitigation technology not only warns the driver but also initiates braking, thus preventing a collision. The advantage of collision mitigation technology is to reduce rear-end crashes and reduce severity of accidents, which is expected to boost the demand for the technology. The collision mitigation technology is integrated with stability control system and antilock braking system, which are also capable to reduce the loss of control and rollover crashes.
The collision mitigation technology has a particular advantage in commercial vehicles, as vehicles carrying heavy loads are difficult to stop, as compared to passenger vehicles. Rapid economic development in Asia Pacific is boosting the sales of commercial vehicles, thereby fuelling the demand for commercial vehicles in the region. This, in turn, is expected to propel the demand for collision mitigation technology. The collision mitigation technology is an expensive technology, as it uses multiple other collision avoidance systems such as ABS, ACC, and stability control. This is a key factor restraining the market.
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