Press release
Collision Avoidance System Market 2024-2033: Size, Share & Competitive Landscape Analysis
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%. The growth in the forecast period can be attributed to smart cities and infrastructure, pedestrian and cyclist safety, emerging market adoption, growing autonomous vehicles, and rising road traffic
. Major trends in the forecast period include electric and hybrid vehicle integration, automotive industry innovations, real-time data and ai integration, 5g connectivity and v2x communication, and advanced driver assistance systems (adas).
Market Overview -
Collision avoidance systems refer to safety systems designed to warn, alert, or assist drivers in avoiding impending collisions and lowering the risk of incidents by providing visual and auditory warnings to operators or by actively enforcing defensive maneuvers such as braking when a collision is impending. The collision avoidance system is used to prevent or decrease the severity of a collision.
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Rising Demand For Automated Vehicles Fuels Growth In The Collision Avoidance System Market
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. Therefore, increased demand for automated vehicles is driving the collision avoidance system market growth.
Competitive Landscape -
Major companies operating in the collision avoidance system market include ZF Friedrichshafen AG, Delphi Technologies PLC, General Electric Company, Mobileye Global Inc., Denso Corporation, Robert Bosch GmbH, Wabtec Corporation, Alstom SA, Autoliv Inc., Honeywell International Inc., Ride Vision Ltd., Aptiv Global Operations Ltd., LILEE System Ltd., Knorr-Bremse AG, Hella GmbH & Co. KGaA, Becker Mining Systems AG, Hexagon AB, Aviation Communication & Surveillance Systems LLC, Saab AB, Rockwell Automation Inc., Hyundai Mobis, Analog Devices, Murata Manufacturing Co. Ltd., Freescale Semiconductor, Infineon Technologies, Panasonic Corporation, Continental AG, Siemens AG, Aptiv Plc, Magna International Inc., Fujitsu Laboratories Ltd., Valeo India Pvt. Ltd., NXP Semiconductors, Texas Instruments Incorporated, STMicroelectronics N.V., Renesas Electronics Corporation, Aisin Seiki Co. Ltd., Sensata Technologies Inc., First Sensor AG, LeddarTech Inc., Quanergy Systems Inc., Velodyne Lidar Inc., Ouster Inc., Luminar Technologies Inc.
Technological Advancements Drive Innovation In The Collision Avoidance System Market
Technological advancement is a key trend gaining popularity in the collision avoidance system market. Major companies operating in the collision avoidance system market are focused on developing new technological solutions to strengthen their position. For instance, in June 2023, Wabtec Digital Mine, a US-based technology company launched Generation 3 Collision Avoidance System (CAS). This advanced system focuses on true collision avoidance, surpassing traditional proximity detection. It maintains core features such as real-time self-testing, personnel detection, and secondary sensing, ensuring top-notch performance. The Generation 3 CAS features a user-friendly interface with context-based voice alerts, replacing traditional beeps and buzzers with discreet, directional, and audible warnings. The system enhances safety and productivity, with a strong focus on reducing risks associated with vehicle interactions in mining environments.
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Key Segments -
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)
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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