LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global commercial vehicle pedestrian protection system (PPS) market to grow at a CAGR of more than 7% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global commercial vehicle pedestrian protection system market for 2017-2021. The report also lists advanced emergency braking system (AEBS), adaptive cruise control (ACC), blind spot detection (BSD), Forward collision warning (FCW), as the four segments based on technology, of which the AEBS accounted for more than 91% of the market share in 2016.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global commercial vehicle PPS market:
- PPS growth to be driven by the rising incidents of pedestrian injuries and deaths
- Insurance providers playing the role of a catalyst for AEBS-based PPS growth
- Regional and global regulations for PPS adoption
PPS growth to be driven by the rising incidents of pedestrian injuries and deaths
It is estimated that worldwide 1.24 million people die in road accidents each year, with more than half of these people comprising of pedestrians and motorcyclists. To reduce these fatalities, the European Commission has decided to make safety systems mandatory in vehicles.
“Reduced visibility at night, misjudgment while driving, and drivers’ fatigue are the main reasons for road accidents globally. This makes an ironclad claim for PPS technologies in enhancing on-road safety to a significant extent,” says Siddharth Jaiswal, a lead analyst at Technavio for automotive electronics research.
Insurance providers playing the role of a catalyst for AEBS-based PPS growth
The automotive industry is witnessing the emergence of various advanced driver assistance technologies to make driving comfortable and safer. Many automakers are offering such advanced systems in their vehicles in the form of crash avoidance and mitigation technologies. According to industry experts, it is believed that automatic braking technologies can help in reducing insurance claims by as much as 40%.
“The emergency braking system market, as part of the PPS suite, boasts of high potential as vehicle safety norms are becoming stricter across the globe and the demand for safety systems is increasing among consumers owing to improving customer awareness,” says Siddharth.
Regional and global regulations for PPS adoption
Driver-based offences, such as drunken driving, distracted driving, and talking on the cell phone while driving, are some of the causes of pedestrian injuries and deaths. More than 80% of all motor vehicle fatalities are due to the fault of the driver. PPS represent appropriate technologies in such cases because it is easier to impose mandatory factory-fitment of such systems, rather than expecting a drastic change in driving behavior.
Currently, there is a multi-pronged regulatory thrust to ensure the presence of at least the most rudimentary PPS in all vehicles. The major proponents in this field include the Euro NCAP, the United Nations Economic Commission for Europe (UNECE), Society of Automotive Engineers (SAE), Centre for Automotive Safety Research (CASR), Australia, NHTSA, and the Department of Road Transport and Highways (DRTH), India, to name a few. Thus, the enforcement of such regulations augurs well for the growth of the market.
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