Collision Avoidance Sensors Market Is Anticipated To Reach USD 15 Billion By 2025 : Global Forecast 2025
November 8, 2019 by Market-NewsFlash
Global Collision Avoidance Sensors Market Research Report: By Technology (Radar, Camera, Ultrasound, LiDAR), by Application (Adaptive Cruise Control, Blind Spot Detection, Forward Collision Warning System, Lane Departure Warning System, Parking Assistance, and Others), by Region (North America, Europe, Asia-Pacific, Middle East and Africa, Central and South America) — Forecast till 2025
The global collision avoidance sensors market is expected to grow from USD 3.8 billion in 2018 to USD ~15 billion by 2025, at a CAGR of ~22% during the forecast period. Safety in automotive industries and human-robot manufacturing environments is always on highest priority. Therefore, while designing and constructing the vehicle as well as equipment in industries, collision avoidance sensors are utilized to minimize the occurrence of accidents. These sensors are used to build highly sophisticated components that are integrated into the vehicle to build autonomous vehicles. The collision avoidance sensors have applications in adaptive cruise control, blind spot detection, forward collision warning system, lane departure warning system, and parking assistance systems, among others. These sensors determine the possibility of a collision based on driving conditions, distance to the vehicle ahead, and relative speeds, as well as use visual and audio warnings to prompt the driver to take preventative actions.
The global collision avoidance sensors market is projected to grow at a significant rate during the forecast period from 2019 to 2025. The geographical analysis of the global collision avoidance sensors market has been conducted for North America, Europe, Asia-Pacific, the Middle East and Africa, Central and South America.
Europe dominates the collision avoidance sensors market owing to stringent government regulations to install advanced safety systems in vehicles and in manufacturing units. As per the European New Car Assessment Programme (NCAP), automobile manufacturers have to offer an emergency autonomous braking solution as part of the safety rating standards. North America holds second largest market share in the collision avoidance sensors market owing to rise in sales of utility vehicles, sports utility vehicles (SUVs), and high-end luxury vehicles in this region. Also, in US, it is mandatory to adopt electronic stability control (ESC) standard for all new vehicles that are manufactured after 2012.
The market for Asia-Pacific is expected to show highest CAGR during the forecast period owing to growing focus on implementation of stringent road safety rules and increasing sale of of premium cars. The Middle East and Africa followed by South America is expected to show significant growth in coming years owing to growing investments in new technology by the government of these regions.
· Automotive sensors manufacturing companies
· Automotive sensors service providers
· Automotive industry consultants and investment bankers
· Government as well as independent regulatory authorities
· Original device manufacturers (OEMs)
· Technology standards organizations
· Investors and consultants
· System integrators
· Government organizations
· Research/consultancy firms
The key players in the 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), and Autoliv Inc. (Sweden), among others.
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