Overview and Scope
Collision avoidance systems refer to safety systems designed to warn, alert, or assist drivers in avoiding impending collisions and lowering the risk of incidents by providing visual and auditory warnings to operators or by actively enforcing defensive maneuvers such as braking when a collision is impending. The collision avoidance system is used to prevent or decrease the severity of a collision.
Sizing and Forecast
The collision avoidance system market size has grown rapidly in recent years. It will grow from <b>$42.14 billion in 2023 to $46.39 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. </b> The growth in the historic period can be attributed to increased automotive safety regulations, reduction in accidents and fatalities, urbanization and traffic congestion, consumer demand for safety features, and insurance industry influence.
The collision avoidance system market size is expected to see strong growth in the next few years. It will grow to <b>$66.98 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. </b> The growth in the forecast period can be attributed to smart cities and infrastructure, pedestrian and cyclist safety, emerging market adoption, growing autonomous vehicles, and rising road traffic
. Major trends in the forecast period include electric and hybrid vehicle integration, automotive industry innovations, real-time data and ai integration, 5g connectivity and v2x communication, and advanced driver assistance systems (adas).
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Segmentation & Regional Insights
The collision avoidance system market covered in this report is segmented –
1) By Product: Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Lane Departure Warning System (LDWS), Parking Assistance, Other Products
2) By Technology: LiDAR, RADAR, Ultrasonic, Camera, Other Technologies
3) By Application: Automotive, Marine, Aerospace, Railways, Other Applications (Construction and Mining)
<b>North America</b> was the largest region in the collision avoidance system market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the collision avoidance system market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
An increase in demand for automated vehicles is expected to drive the collision avoidance system market going forward. Automated vehicles refer to vehicles that can sense their surroundings and operate without human intervention. Automated vehicles use collision avoidance systems such as sensors, cameras, emergency braking, lane-keeping, and others to control the car and avoid accidents. For instance, in 2021, Tesla, a US-based automated car manufacturer, sold 93.6 vehicles globally, an 87% increase from 2020. Therefore, increased demand for automated vehicles is driving the collision avoidance system market growth.
Key Industry Players
Major companies operating in the collision avoidance system market include <b> ZF Friedrichshafen AG, Delphi Technologies PLC, General Electric Company, Mobileye Global Inc., Denso Corporation, Robert Bosch GmbH, Wabtec Corporation, Alstom SA, Autoliv Inc., Honeywell International Inc., Ride Vision Ltd., Aptiv Global Operations Ltd., LILEE System Ltd., Knorr-Bremse AG, Hella GmbH & Co. KGaA, Becker Mining Systems AG, Hexagon AB, Aviation Communication & Surveillance Systems LLC, Saab AB, Rockwell Automation Inc., Hyundai Mobis, Analog Devices, Murata Manufacturing Co. Ltd., Freescale Semiconductor, Infineon Technologies, Panasonic Corporation, Continental AG, Siemens AG, Aptiv Plc, Magna International Inc., Fujitsu Laboratories Ltd., Valeo India Pvt. Ltd., NXP Semiconductors, Texas Instruments Incorporated, STMicroelectronics N.V., Renesas Electronics Corporation, Aisin Seiki Co. Ltd., Sensata Technologies Inc., First Sensor AG, LeddarTech Inc., Quanergy Systems Inc., Velodyne Lidar Inc., Ouster Inc., Luminar Technologies Inc. </b>
The collision avoidance system market report table of contents includes:
1. Executive Summary
2.Collision Avoidance System Market Characteristics
3.Collision Avoidance System Market Trends And Strategies
4.Collision Avoidance System market analysis
5.Collision Avoidance System Market Size And Growth
6. Collision Avoidance System Segmentation
7. Collision Avoidance System Regional And Country Analysis
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27.Collision Avoidance System Competitive Landscape And Company Profiles
28.Collision Avoidance System Key Mergers And Acquisitions
29.Collision Avoidance System Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- ZF Friedrichshafen AG
- Delphi Technologies PLC
- General Electric Company
- Mobileye Global Inc.
- Denso Corporation
- Robert Bosch GmbH
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