Overview and Scope
Collision avoidance sensors are devices designed to detect obstacles or hazards in the path of a moving vehicle and provide warnings or take corrective actions to prevent collisions. They are crucial for enhancing safety by continuously monitoring the vehicle’s surroundings and alerting drivers or autonomous systems to potential dangers, thereby helping to avoid accidents.
Sizing and Forecast
The collision avoidance sensors market size has grown rapidly in recent years. It will grow from $4.80 billion in 2023 to $5.34 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to increase the resolution of radars driving vehicles, increasing protection to vehicle occupants, increase demand for collision avoidance sensors, increasing emphasis on implementing strict road safety regulations, and increase in sales of sports utility vehicles.
The collision avoidance sensors market size is expected to see rapid growth in the next few years. It will grow to $8.28 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to growing use of autonomous vehicles, rising new car evaluation programs, increasing developments in the fields, rising demand for collision avoidance sensors, rising consumer purchasing power for luxury and autonomous vehicles. Major trends in the forecast period include technological progress, advancements in sensor technology, use of advanced technologies such as liDAR and radar, expansion in automotive and transportation applications, and internet of things (IoT) and connectivity.
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Segmentation & Regional Insights
The collision avoidance sensors market covered in this report is segmented –
1) By Technology: Radar, Camera, Ultrasound, LIDAR
2) By Applications: Lane Departure Warning System , Blind Spot Detection, Adaptive Cruise Control, Parking Assistance , Forward Collision Warning System , Autonomous Emergency Braking, Other Applications
3) By End Users: Aerospace And Defense, Automotive, Marine, Other End Users
North America was the largest region in the collision avoidance sensor Market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the collision avoidance sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for autonomous vehicles is expected to propel the growth of the collision avoidance sensors market going forward. Autonomous vehicles are self-driving cars that employ advanced sensor technologies, computer systems, and artificial intelligence to operate and navigate without constant human intervention or monitoring. The increasing demand for autonomous vehicles is due to advancements in artificial intelligence and sensor technology, along with substantial investment and support from private companies and governments to enhance safety and efficiency in transportation. Collision avoidance sensors play a crucial role in modern automotive safety by providing real-time information about the vehicle’s surroundings and assisting drivers in avoiding collisions or minimizing their impact. It enables autonomous vehicles to navigate safely and confidently in complex environments, reducing accidents and improving road safety. For instance, in December 2022, according to the National Association of Insurance Commissioners, a US-based non-profit organization, there are expected to be 3.5 million autonomous vehicles on American roads by 2025 and 4.5 million by 2030. Therefore, the increasing number of autonomous vehicles drives the collision avoidance sensors market.
Key Industry Players
Major companies operating in the collision avoidance sensors market are Siemens AG, General Electric, Continental AG, Luminar Technologies Inc., NTT Data Corporation, Aptiv PLC, Alstom SA, Collins Aerospace, Texas Instruments Incorporated, St Microelectronics NV, NXP Semiconductors N.V., Autoliv Inc., Wabtec, Hexagon AB, Saab AB, Sensata Technologies Inc., Donaldson Company Inc., SZ DJI Technology Co. Ltd., Magna International Inc., Ouster Inc., Aceinna Inc., Robert Bosch GmbH
The collision avoidance sensors market report table of contents includes:
1. Executive Summary
2. Collision Avoidance Sensors Market Report Structure
3. Collision Avoidance Sensors Market Trends And Strategies
4. Collision Avoidance Sensors Market – Macro Economic Scenario
5. Collision Avoidance Sensors Market Size And Growth
…..
27. Collision Avoidance Sensors Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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