The global collision avoidance sensors market size is
expected to reach USD 18.97 billion by 2025, according to a new study conducted
by Grand View Research, Inc., displaying a 21.2% CAGR during the forecast
period. Integration of anti-collision systems in mass-market vehicles and
updated safety ratings of agencies are expected to fuel market growth over the
next few years.
Increasing consumer awareness and
extensive focus on research and development by industry players have been major
growth drivers for the market. Installation of collision avoidance systems
allows vehicles to perform autonomous and semi-autonomous decision-making.
Growing demand for vehicle security by consumers and government vehicle safety
regulatory agencies is also expected to drive the growth of the collision
avoidance sensors market.
Recent technological developments in
sensors are focused on building highly sophisticated devices and augmenting
their performance using various components of the vehicle.Anti-collision
systems enable automotive OEMs to integrate additional intelligence to
accomplish the goal of developing an autonomous vehicle.
Stringent regulatory and legal
standards have mandated the addition of sensors to enhance safety features in
vehicles. These are expected to drive demand for collision avoidance sensors
over the forecast period. However, high cost of LiDAR-based systems and
long-range radars may cause a hindrance to market growth as manufacturers of
low-priced cars may refrain from installing sensors to avoid increase overall
price of vehicles.
Browse full research report on Collision Avoidance Sensors Market: https://www.grandviewresearch.com/industry-analysis/collision-sensors-market
Further key findings from the report suggest:
- Integration of collision avoidance systems in vehicles is
expected to help reduce the number of vehicle accidents due to human
error; the latter are said to account for 90% of accidents, according to a
2014 UN Road Safety Collaboration study
- The radar segment is projected to account for 44.5% of the
global market by 2025. Declining prices of radars have led to their
increased adoption by various Original Equipment Manufacturers (OEMs) of
automobiles
- Due to mandatory government regulations regarding
incorporation of camera-based collision avoidance systems into vehicles,
the camera segment is expected to witness high growth over the forecast
period
- The Forward Collision Warning System (FCWS) segment is
expected to account for a major market share by 2025 as these systems help
in significantly decreasing rear-end collisions or accidents
- Over the forecast period, Europe is anticipated to retain its
position as market leader in the adoption of collision avoidance sensors
and systems and is anticipated to reach USD 5.80 billion by 2025
- Key market participants include NXP Semiconductors,
Continental AG, Delphi Automotive, Robert Bosch GmbH, and Murata
Manufacturing Co., Ltd.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/collision-sensors-market/request/rs1
Grand View Research has segmented the global collision avoidance
sensors market on the basis of technology, application, and region:
Collision Avoidance Sensors Technology Outlook (Revenue, USD
Million, 2014 - 2025)
- Radar
- Camera
- Ultrasound
- LiDAR
Collision Avoidance Sensors Application Outlook (Revenue, USD
Million, 2014 - 2025)
- Adaptive
Cruise Control (ACC)
- Blind
Spot Detection (BSD)
- Forward
Collision Warning System (FCWS)
- Lane
Departure Warning System (LDWS)
- Parking
Assistance
- Others
Collision Avoidance Sensors Regional Outlook (Revenue, USD
Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- France
- Germany
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Mexico
- Middle
East & Africa
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
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