Collision Avoidance Sensor Market Is Anticipated to Surpass a Market Value of US$ 15.1 Billion by the End of 2032 | Market.us Report
The adoption of automation in various industries is fueling the demand for collision avoidance systems. Many leading tech and automotive companies are now investing heavily in research and development of collision avoidance systems and sensors.
New York, April 12, 2023 (GLOBE NEWSWIRE) — The Collision Avoidance Sensor market revenue is projected to surpass around USD 15.1 billion by 2032, and it is poised to reach a registered CAGR of 11.9% from 2023 to 2032. The global collision avoidance sensor market size was valued at USD 5.05 Billion in 2022. Due to the growing need for collision avoidance sensors in the mining, construction, and automotive industries, the market for these sensors is increasing globally. The development of automated driving assistance systems and the rise in accidents globally have increased the need for improved sensory technology. The market for collision avoidance sensors in automotive has grown rapidly due to improvements in LiDAR, camera, ultrasound, and radar technology. Many premium automakers are expected to broadly embrace these sensors and incorporate them as a substantial component of the active safety system package in a vehicle. Sports utility vehicles (SUVs), high-end luxury cars, and utility vehicles are expected to be major growth drivers of the market. Some major automakers are now offering basic collision avoidance sensors in their mass-market products.
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- By technology, in 2022, the global collision avoidance sensor market was dominated by the radar segment.
- by application, the parking assistance segment dominated the largest market share in application type analysis and accounted for the largest revenue share in the collision avoidance sensor market in 2022.
- By end-user, the Automotive segment dominated the largest market share in end-user type analysis
- In 2022, North America dominated the market with the highest revenue share of 45%.
Factors affecting the growth of the Global Collision Avoidance Sensor industry
There are several factors that can have an impact on the growth of the collision avoidance sensor industry. Some of these factors include:
- Advancements in technology: The development of more advanced collision avoidance sensors may improve their accuracy and effectiveness, raising demand from consumers and manufacturers.
- Growing Adoption of Autonomous Vehicles: As autonomous vehicle usage spreads, collision avoidance sensors will become even more essential to guaranteeing passengers’ and pedestrians’ safety.
- Growing adoption of autonomous vehicles: Demand for these systems may rise as more people become aware of the potential advantages of collision avoidance systems, such as fewer accidents and lower insurance costs.
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The rising use of automation across various industries is driving the demand for collision avoidance systems. The global collision avoidance market is expected to grow rapidly over the coming years. Collision avoidance technology is becoming more important in various sectors, including automotive, aerospace, marine, and rail. One major driving factor behind the market expansion is the rising need for safety features in vehicles. As more consumers become concerned for their own safety, and that of their passengers, collision avoidance systems are becoming more prevalent in new vehicles. Furthermore, government regulations mandating their installation in cars have further contributed to market expansion.
North America is the leading market for collision avoidance sensors due to the widespread adoption of advanced driver assist systems. Many top technology & automotive companies are investing heavily in research into collision avoidance systems and sensors. Asia-Pacific grows rapidly in this sector due to rising vehicle requirements and an increased focus on security. Countries, including China and South Korea, which have invested more in developing collision avoidance technology, are leading this charge due to rapid market expansion within this region.
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Scope of the Report
|Market Value (2022)||USD 5.05 Billion|
|Market Size (2032)||USD 15.1 Billion|
|CAGR (from 2023 to 2032)||11.9%|
|North America Revenue Share||45.0%|
|Historic Period||2016 to 2022|
|Forecast Year||2023 to 2032|
- Increasing demand For Advanced Driver Assistance Systems (ADAS): Modern vehicles increasingly use ADAS, and collision avoidance sensors have been a key component. These sensors can detect and avoid collisions with pedestrians, vehicles, or objects.
- Innovations in Sensor Technology: Advanced sensor technologies such as radar, lidar, and camera-based systems are driving innovation in the collision avoidance sensors market. These sensors are more accurate, reliable, and cheaper than their predecessors. This makes them accessible to a wider variety of vehicles.
- Increased Adoption of Autonomous Vehicles: Collision avoidance sensors will be more important as autonomous vehicle adoption grows rapidly. These sensors are part of autonomous driving systems that use advanced software and sensors to avoid possible collisions.
- High Cost: The high cost of collision avoidance sensors is one of the main barriers in the market. The cost can vary significantly based on type and application but are usually more costly than other types of sensors used in automobiles or other industries. As a result, costs might prevent adoption, especially in developing countries where they play a significant role.
- Limited accuracy and range: The range and precision of collision avoidance sensors are one of their main drawbacks. In addition, variables, including weather and lighting, may impact these sensors’ accuracy.
These frequency bands are commonly used in radar applications like 24 GHz and 7. GHz. Due to regulations surrounding radar sensors, the market is moving towards 77GHz radars; this shift has more advantages for automotive industries. Narrowband, also known as THISM, operates between 250 MHz to 24.0 GHz and can be used for blind spot detection applications. Although narrowband may be suitable in certain cases, those needing higher frequency ranges must use ultra-wideband devices; this range will be phased out after 2022 due to spectrum regulations established by the Federal Communications Commission (FCC) and European Telecommunications Standards Institute (ETSI).
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Report Segmentation of the collision avoidance sensor Market
The market for collision avoidance sensors is segmented into Radar, Camera, Ultrasound, LiDAR, and Other Technologies based on technology. The radar category is the most profitable in the global collision avoidance sensor market among these categories. When it comes to detection technology that demands precise measurements of the location and distance of objects, radars are the most popular option. While radar has a longer and wider field of view, vision and infrared sensors are shorter and narrower. They are better at identifying and categorizing challenges. Obstacle detection within a short distance is possible using low-cost ultrasound equipment. Particularly, they are used in parking assistance systems. LiDAR-based anti-collision sensors may produce detailed imagery and have a large field of view.
Based on application, the collision avoidance sensor is expected to dominate parking assistance with a CAGR of 11.56% over the forecast period. Vehicles with parking assistance systems use vision-based and ultrasonic anti-collision sensors that alert drivers when an appropriate parallel or perpendicular space is detected. If the person is driving and presses the button to activate the park assist, the system determines the optimal path to take, the number of steering adjustments necessary, and the best method to approach the space.
The collision avoidance sensor market is segmented into automotive, aerospace & defense, maritime, rail, and other end-users. The collision avoidance sensor market’s most lucrative end-user among these is the automotive industry. Collision avoidance sensors are widely used in the automotive sector. The safety of drivers, passengers, and pedestrians is increased due to these solutions. The collision avoidance system, which uses collision avoidance sensors to recognize objects in its path and inform the driver so they can take appropriate action, is one of the primary applications of these sensors in automobiles.
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Based on Technology
- Other Technologies
Based on Application
- Adaptive Cruise Control (ACC)
- Blind Spot Detection (BSD)
- Forward Collision Warning System (FCWS)
- Lane Departure Warning System (LDWS)
- Parking Assistance
- Night Vision (NV)
- Autonomous Emergency Braking
- Other Applications
Based on End-User
- Aerospace & Defense
- Other End-users
- North America
- The US
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- The Czech Republic
- Rest of Eastern Europe
- South Korea
- Australia & New Zealand
- Rest of APAC
- Latin America
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- United Arab Emirates
- Rest of MEA
The collision avoidance sensors market is highly competitive, with several key players dominating the market. Some of the major players in the market include:
- Robert Bosch GmbH
- Rockwell Collins, Inc.
- L3 Technologies
- Saab AB
- General Electric
- Delphi Automotive Plc.
- Denso Corporation
- Autoliv, Inc.
- Becker Mining Systems AG
- Hexagon AB
- Wabtec Corporation
- Honeywell International, Inc.
- Siemens AG
- Other Key Players
The recent development of the Collision avoidance sensor market
- In 2021, ZF announced its “coPILOT” collision avoidance technology, which makes use of AI and machine learning to inform drivers in real-time and improve safety.
- The “Velabit” collision avoidance sensor from Velodyne Lidar will be released in 2020. In order to offer real-time information about its surroundings and help autonomous vehicles avoid collisions, this device makes use of LiDAR technology.
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