Auto Safety Systems Drive Large New Market
OYSTER BAY, NY -- Sales of 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, ABI Research forecasts.
“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 among car OEMs, driven mainly by the decision of ratings agencies such as EuroNCAP to include ‘active’ systems in their latest test specifications,” said Dominique Bonte, vice president 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.
