Anti-Collision Sensor Market by Top Key Participant Delphi Automotive, ZF Friedrichshafen, Bosch, Continental AG, TRW Automotive, Wadeco, Yaskawa, Robert Bosch GmbH
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Several advantages offered by camera-based systems include reduced risks at the time of multiple distractions, safer highway driving and night driving assistance. Rise in demand of these features among the customers is driving the anti-collision sensor market growth.
Anti-Collision Sensor Market size is expected to grow substantially over the coming years owing to the rise in demand of security and safety system in automobiles. Several systems are integrated in vehicles for safety of the driver and passengers such as anti-lock brake system, traction control, cruise control and anti-theft system. Rise in demand of advanced automated technologies in vehicles is driving the anti-collision sensor market growth. With the growth in automobile sector, the demand of the security systems will grow at a rapid pace, thereby growing the industry share of anti-collision sensor market. Several major companies are engaged in manufacturing these systems for prevention of the road accidents. For instance, Leo Burnett India and HP Lubricants developed anti-collision management system for Indian roads in April 2017. It was launched on national highway 1 in North India.
Increasing demand of automatic parking functions in the vehicles is growing the demand of these components in anti-collision sensor market.
With the rise in traffic, it is becoming difficult to park cars in tiny spaces. These sensors provide the driver assistance and information about the parking space and guides them to park the vehicles effectively. Automatic parking system consists of these sensors to provide the details about the space left to park the vehicle. The integration of these components in parking system is driving the anti-collision sensor market growth. Several automobile players which are integrating these components in their cars include Mercedes Benz, which introduces Mercedes Benz E Class in February 2017 consists of E-Class parking pilot.
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Growth in sales of sports and luxury vehicles is predicted to drive the anti-collision sensor market growth. The incorporation of the sensors in these vehicles provides assistance at the time of accidents. The luxury vehicles are provided with several ADAS to provide the customers value for their purchase. Several luxury cars provided by the major players of automobile sector includes Audi A3, Genesis G80, Lexus ES 350 and Volvo S90 among others. These manufacturers are adopting technologies which will ensure safety of the driver and passengers, thereby driving the anti-collision sensor market growth.
High costs associated with the sensors are limiting the adoption of these components restricting the growth of anti-collision sensor market. These systems are integrated in luxury vehicles and is affordable by the upper-class people. The middle and lower-class range of people finds it difficult to afford these luxurious vehicles. To combat this problem, several industry players are offering cars with the systems to cater these segments of market in an affordable price range such as Prius by Toyota launched in 2012, Honda Crosstour in 2013 and Chevrolet Malibu in 2013 among others. These offerings of the major players are increasing the demand of safety systems in anti-collision sensor market.
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Europe is expected to witness high growth in anti-collision sensor market among other regions owing to the growth of automobile industry. The region witnesses high demand of automobile products and consists of several major players of the industry such as Daimler AG, Volkswagen, BMW, Audi and Opel. These players are manufacturing luxurious cars which are integrated with several ADAS technologies, which is driving the anti-collision sensor market growth. Major countries of the region such as Germany and France are the technological providers of automobile industry and provides new innovations in their offerings.
Key players operating in anti-collision sensor market is Delphi Automotive, ZF Friedrichshafen, Bosch, Continental AG, TRW Automotive, Wadeco, Yaskawa, Robert Bosch GmbH, and Denso Corporation among others. These players are competing based on the customers requirement and targeting their offerings in automobile sector. The strategies adopted by the players include product differentiation and penetration. The competitors are developing strategies to combat the restraints in the anti-collision sensor market and target the opportunities in the industry. The demand of these sensors in aerospace industry is also providing an opportunity for the players to develop technologies which can be integrated in space ships.
Market share calculation in this report is not done based on companies covered in it. The calculation of Magnetometer Market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
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