Press release
Collision Avoidance System Market Grows Rapidly: Expected to Reach $66.98 Billion by 2028
Collision Avoidance System Global Market
In recent years, the collision avoidance system market has experienced rapid growth, set to ascend from $42.14 billion in 2023 to $46.39 billion in 2024, boasting a 10.1% Compound Annual Growth Rate (CAGR). The trajectory continues on a robust path, with a forecasted market size of $66.98 billion in 2028, sporting a 9.6% CAGR.
Driving Forces: Automation and Traffic Surge
Automation On the Rise: The surge in demand for automated vehicles is steering the collision avoidance system market's expansion. Automated vehicles, equipped with sophisticated collision avoidance systems, are gaining traction globally. Notably, Tesla witnessed an 87% increase in global sales in 2021, underlining the escalating demand for automated driving solutions.
Mitigating Traffic Risks: Escalating road traffic levels globally are fueling the market's growth. As congestion rises, so does the risk of accidents. Collision avoidance systems, offering automated braking and warnings, play a pivotal role in enhancing road safety. For instance, in 2021, U.S. road travel surged by 19.0%, emphasizing the crucial role of these systems in managing the challenges posed by growing traffic volumes.
Explore the Global Collision Avoidance System Market with a Detailed Sample Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7470&type=smp
Key Players: Pioneering Innovation
Major industry players shaping the collision avoidance system market include ZF Friedrichshafen AG, Delphi Technologies PLC, General Electric Company, and Mobileye Global Inc. These companies are at the forefront of innovation, contributing to the market's evolution through cutting-edge technologies and solutions.
Trends Defining the Landscape: Technology and Safety Confluence
Technological Advancement: A prominent trend in the market is the continuous advancement of collision avoidance technologies. For instance, the launch of the Generation 3 Collision Avoidance System by Wabtec Digital Mine in June 2023 signifies a shift towards true collision avoidance, surpassing traditional proximity detection.
ADAS Integration: The market is witnessing a transformation with the integration of Advanced Driver Assistance Systems (ADAS) into collision avoidance solutions. MG Motor's launch of Next-Gen Hector, featuring an Autonomous Level 2 system with 11 ADAS, exemplifies this shift towards holistic safety solutions.
Regional Dominance and Segment Breakdown
Leading Region - North America: In 2023, North America took the lead in the collision avoidance system market. The region's technological advancements and robust automotive industry contribute significantly to market growth.
Segmentation Overview:
The collision avoidance system market covered in this report is segmented -
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)
Access the Complete Report for In-Depth Analysis:
https://www.thebusinessresearchcompany.com/report/collision-avoidance-system-global-market-report
Collision Avoidance System Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Collision Avoidance System Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on collision avoidance system market size, collision avoidance system market drivers and trends, collision avoidance system market major players, collision avoidance system market competitors' revenues, collision avoidance system market positioning, and collision avoidance system market growth across geographies. The collision avoidance system market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
Browse Through More Similar Reports By The Business Research Company:
Automotive Collision Repair Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/automotive-collision-repair-global-market-report
Forward Collision Warning System For Automotive Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/forward-collision-warning-system-for-automotive-global-market-report
Anti-Collision Sensor Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/anti-collision-sensor-global-market-report
Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Check out our:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 6500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Global Market Model - Market Intelligence Database
The Global Market Model, The Business Research Company's flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Collision Avoidance System Market Grows Rapidly: Expected to Reach $66.98 Billion by 2028 here
News-ID: 3366439 • Views: …
More Releases from The Business research company
Emerging Innovations Set to Redefine the Sewer Rehabilitation Services Market La …
How Large Is the Sewer Rehabilitation Services Market Anticipated to Become by 2025?
The global market for sewer rehabilitation services has experienced robust expansion lately, projected to increase from a valuation of $42.38 billion in 2024 to $45.14 billion in the subsequent year, reflecting a compound annual growth rate (CAGR) of 6.5%. This historical upward trajectory is primarily fueled by several key factors: escalating levels of urbanization, the ever-aging condition of…
2025-2034 Sea Based C4ISR Market Outlook: Emerging Drivers, Growth Barriers, and …
What Market Size Will the Sea Based C4ISR Sector Reach by 2025?
The maritime C4ISR market experienced substantial expansion lately, projected to climb from a value of $3.0 billion in 2024 to $3.17 billion the following year, reflecting a compound annual growth rate of 5.7%. This upward trend observed over the historical period stems from several factors, including the intensification of naval modernization initiatives, escalating maritime security perils, augmentation in defense…
The Impact of Rapid Urbanization on the Ripening Culture Market: A Key Force Sha …
What Is the Forecasted Size of the Ripening Culture Market by 2025?
The market for ripening cultures has experienced substantial expansion lately, projected to increase from a valuation of $1.46 billion in 2024 to $1.57 billion a year later, demonstrating a consistent yearly growth rate (CAGR) of 7.7%. This upward trajectory during the past period stems from several key factors, including heightened demand for fermented dairy items, greater recognition of the…
Strong Demand Anticipated to Drive Recirculating Chillers Market Toward $2.76 Bi …
How Much Expansion Is Expected in the Recirculating Chillers Market by 2025?
The market encompassing recirculating chillers has seen swift expansion lately, projected to escalate from a value of $1.65 billion in 2024 to $1.83 billion by the ensuing year, reflecting an impressive compound annual growth rate (CAGR) of 11.2%. This upward trajectory during the historical timeframe stems from several factors, including the proliferation of automated systems in industrial procedures, escalating…
More Releases for Collision
Bucks Collision Enhances Collision Repair & Insurance-Claim Support for Bucks Co …
Bucks Collision in Feasterville-Trevose, PA provides expert collision repair and insurance-claim assistance for drivers throughout Bucks County. The shop specializes in restoring vehicles to pre-accident condition and helping customers navigate the repair and claims process smoothly and efficiently.
Feasterville-Trevose, Pennsylvania - Bucks Collision, a leading collision repair center serving Bucks County, has announced an enhanced focus on providing comprehensive collision repair services and streamlined insurance-claim assistance. With a reputation built on…
Big 3 Collision Named Best Collision Shop and Auto Body Shop in Michigan
Warren, MI - Big 3 Collision, a trusted name in auto repair, has been officially recognized as the Best Collision Shop Warren [https://www.big3autocollision.com/] and Auto Body Shop in Michigan. This prestigious accolade highlights their unwavering commitment to top-notch service, precision repairs, and exceptional customer care.
With a mission to return vehicles to their pre-damage condition (or better), Big 3 Collision has become the go-to destination for Michigan residents seeking expert collision…
Vehicle Collision Repair Market to Set an Explosive Growth in Near Future|Calibe …
HTF MI recently introduced Global Vehicle Collision Repair Market study with 143+ pages in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status (2024-2032). The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence. Some key players from the complete study are Service King, Caliber Collision, Gerber Collision, Fix Auto, etc..
Download Sample Report PDF…
Atlas Auto Collision: Brampton's Trusted Choice for Collision Repair and Restora …
Brampton, Ontario - Atlas Auto Collision takes pride in its position as a leader in collision repair and restoration services for the Brampton community. Their commitment to excellence ensures your vehicle is brought back to its pre-accident condition, using state-of-the-art equipment and a dedicated team of professionals.
Unparalleled Service and Expertise:
Comprehensive Collision Repair: Skilled technicians meticulously restore your vehicle using advanced tools and techniques, addressing both minor dents and major structural…
Premier Coach Auto Collision Offers Collision Repair Services in Thousand Oaks
Image: https://www.getnews.info/wp-content/uploads/2024/04/1702384602.png
Premier Coach Auto Collision, a leading auto body repair shop, is proud to offer its top-quality collision repair services to the Thousand Oaks community.
Thousand Oaks, CA - Premier Coach Auto Collision, a leading auto body repair shop, is proud to offer its top-quality collision repair services to the Thousand Oaks community. With over 20 certifications from automotive manufacturers and a team of highly trained technicians [https://premiercoachautocollision.com/our-team/], Premier Coach Auto…
Intelligent Pedestrian Collision Avoidance System Market Enhancing Pedestrian Sa …
Global Intelligent Pedestrian Collision Avoidance System Market Overview:
The Intelligent Pedestrian Collision Avoidance System market is a broad category that includes a wide range of products and services related to various industries. This market comprises companies that operate in areas such as consumer goods, technology, healthcare, and finance, among others.
In recent years, the Intelligent Pedestrian Collision Avoidance System market has experienced significant growth, driven by factors such as increasing consumer demand,…
