Collision Avoidance Sensors Market

Collision Avoidance Sensors Market Analysis

The Collision Avoidance Sensors Market industry is projected to grow from USD 4.8 Billion in 2023 to USD 23.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 22.00% during the forecast period (2023 - 2032).

Collision Avoidance Sensors Market Key Players

The key players in the global collision avoidance sensors market are NXP Semiconductors (Netherlands), Delphi Automotive LLP (Ireland), Robert Bosch GmbH (Germany), DENSO CORPORATION (Japan), Continental AG (Germany), Infineon Technologies AG (Germany), Murata Manufacturing Co., Ltd. (Japan), Texas Instruments (US), Siemens AG (Germany), Rockwell Collins (US), and ALSTOM (France).

Other prominent players studied for the collision avoidance sensors market are General Electric (US), Honeywell International Inc. (US), Saab AB (Sweden), TRW Automotive (US), Becker Mining Systems AG (Germany), Panasonic Corporation (Japan), Sensata Technologies, Inc. (US), Takata Corporation (Japan), Wabtec Corporation (US), Autoliv Inc. (Sweden), among others.

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Multiple Factors to Bolster Market Growth

The number of road accidents has been steadily increasing, resulting in fatalities, vehicle damage, and traffic jams. Although the use of autonomous vehicles is increasing in industrial applications such as moving goods or parts on preset paths, the risk of colliding with people or objects is significant. When such vehicles are outfitted with collision detection or avoidance sensors, they can come to a complete stop before an accident happens. To avoid accidents, major automakers have begun to incorporate collision avoidance sensors into their mass-market product offerings. Toyota Motor Corporation, for example, incorporates innovative technologies in their vehicles to avoid accidents, such as a pre-crash braking system, auto-parking, auto-adjust headlamps, and a vehicle communication system. Thus, one of the primary factors driving the growth of the collision avoidance sensors market is the increasing sale of utility vehicles, sports utility vehicles (SUVs), and high-end luxury vehicles

COVID-19 to have Temporary Impact on the Global Market

The spread of COVID-19 has had an impact on the market for collision avoidance sensors. The global spread of the pandemic has prompted lockdowns in a number of countries, disrupting supply chains and shutting down a number of manufacturing plants. The decrease in collision avoidance sensor production has had a significant influence on market growth.

To survive in the collision avoidance sensors market, industry participants all over the world are focusing on cutting operational costs. The post-lockdown resumption of manufacturing of collision avoidance sensors and related equipment is projected to fuel market expansion. Over the anticipated timeframe, government initiatives and relaxations in lockdowns are expected to raise demand for collision avoidance sensors. As a result of the increasing acceptance of such advanced products in automotive and marine applications to ensure vehicle safety, the demand for collision avoidance sensors and related products is predicted to rise.

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Collision Avoidance Sensors Market Segmentation

The global collision avoidance sensors industry has been segmented on the basis of technology and application.

On the basis of technology, the global collision avoidance sensors market has been segmented into radar, camera, ultrasound, and LiDAR.

By application, the global collision avoidance sensors market has been segmented into adaptive cruise control (ACC), blind-spot detection (BSD), forward collision warning system (FCWS), lane departure warning system (LDWS), parking assistance, and others.

Collision Avoidance Sensors Market Regional Analysis

Europe to Dominate the Global Market

Due to the presence of a sizable automotive sector in Germany, Europe has the greatest market share in the worldwide collision avoidance sensors market. Furthermore, specific government rules exist in Europe for the installation of devices such as airborne collision avoidance systems (ACAS) in aircraft for seating capacity and tire pressure monitoring systems in automobiles.

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