Press release
Collision Avoidance System Global Market Size is Expected to Grow $66.98 Billion By 2028 with CAGR of 9.6% | Key Players: Delphi Technologies PLC, General Electric Company, Mobileye Global Inc., Denso Corporation, Robert Bosch GmbH
The Business Research Company presents an extensive market research report on the ""Collision Avoidance System Global Market Report 2023,"" furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Collision Avoidance System industry. This report on Collision Avoidance System market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The collision avoidance system market size has grown rapidly in recent years. It will grow from $42.14 billion in 2023 to $46.39 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to increased automotive safety regulations, reduction in accidents and fatalities, urbanization and traffic congestion, consumer demand for safety features, and insurance industry influence. The collision avoidance system market size is expected to see strong growth in the next few years. It will grow to $66.98 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
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Key Market Players:
ZF Friedrichshafen AG, Delphi Technologies PLC, General Electric Company, Mobileye Global Inc., Denso Corporation, The Progressive Corporation are prominent players in the Collision Avoidance System industry.
Market Drivers:
An increase in demand for automated vehicles is expected to drive the collision avoidance system market going forward. Automated vehicles refer to vehicles that can sense their surroundings and operate without human intervention. Automated vehicles use collision avoidance systems such as sensors, cameras, emergency braking, lane-keeping, and others to control the car and avoid accidents. For instance, in 2021, Tesla, a US-based automated car manufacturer, sold 93.6 vehicles globally, an 87% increase from 2020.
More information about the Global Collision Avoidance System Market Report -
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Market segments for Collision Avoidance System include:
1) By Product: Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Lane Departure Warning System (LDWS), Parking Assistance, Other Products
2) By Technology: LiDAR, RADAR, Ultrasonic, Camera, Other Technologies
3) By Application: Automotive, Marine, Aerospace, Railways, Other Applications (Construction and Mining)
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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