Market Size –
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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Scope Of Collision Avoidance Sensors Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Collision Avoidance Sensors Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the collision avoidance sensor market are focused on developing innovative products such as lightweight Lidar to enhance vehicle safety, improve efficiency, and enable seamless integration into a wide range of vehicles, from compact cars to commercial trucks and autonomous vehicles. A lightweight lidar solution is a compact and often portable system that uses Lidar (light detection and ranging) technology to perform distance measurements and generate detailed 3D maps of its surroundings. For instance, in June 2021, Velodyne lidar, a US-based automotive technology company, launched its velabitTM sensor, a compact, lightweight Lidar solution designed for advanced driver-assistance systems (ADAS) and autonomous vehicles. The velabitTM offers a wide field of view, high resolution, and long-range detection capabilities to enhance collision avoidance capabilities. The lightweight and versatile Velabit sensor features a small form factor and low power consumption to maximize battery life and vehicle range.
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
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Regional Insights –
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.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Collision Avoidance Sensors Market Characteristics
3. Collision Avoidance Sensors Market Trends And Strategies
4. Collision Avoidance Sensors Market – Macro Economic Scenario
5. Global Collision Avoidance Sensors Market Size and Growth
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31. Collision Avoidance Sensors Market Other Major And Innovative Companies
32. Global Collision Avoidance Sensors Market Competitive Benchmarking
33. Global Collision Avoidance Sensors Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Collision Avoidance Sensors Market
35. Collision Avoidance Sensors Market Future Outlook and Potential Analysis
36.Appendix
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