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. Rising demand for high-speed vehicles is driving the need to adopt advanced technologies such as collision mitigation technology in order to satisfy consumer interest without compromising on safety. Increase in concern about occupant safety and awareness programs by traffic administrations worldwide are anticipated to boost the collision mitigation technology market. 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. Intercontinental trucking activities are highly popular in North America and Europe, which in turn is expected to drive the collision mitigation technology market in these regions. 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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The global collision mitigation technology market can be segmented based on technology, vehicle, sales channel, and region. Based on technology, the collision mitigation technology market can be classified into radar, ultrasonic, LiDAR, and camera.
In terms of vehicle, the collision mitigation technology market can be split into passenger vehicle and commercial vehicle.
Based on sales channel, the collision mitigation technology market can be bifurcated into OEM and aftermarket. Competition among automakers is compelling them to offer safety features to gain competitive edge. Therefore, the collision mitigation technology is estimated to be primarily introduced in the market as OEM-fitted equipment.
In terms of region, the collision mitigation technology market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe being developed regions witness a high demand of safety systems and hence, are anticipated to lead the global collision mitigation technology market.
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Key players operating in global collision mitigation technology market include Meritor WABCO, Bendix Commercial Vehicle Systems LLC, DENSO Corporation, Robert Bosch GmbH, and Autoliv.
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