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Collision Avoidance Sensors Market 2024 - By Size, Share Analysis, Trends And Growth Forecast By 2033
Collision Avoidance Sensors Market
As per the report, the collision avoidance sensors market size has grown rapidly in recent years. It will grow from $4.80 billion in 2023 to $5.34 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The collision avoidance sensors market size is expected to see rapid growth in the next few years. It will grow to $8.28 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%.
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Autonomous Vehicles Driving Growth In Collision Avoidance Sensors Market
The increasing demand for autonomous vehicles is expected to propel the growth of the collision avoidance sensors market going forward. Autonomous vehicles are self-driving cars that employ advanced sensor technologies, computer systems, and artificial intelligence to operate and navigate without constant human intervention or monitoring. The increasing demand for autonomous vehicles is due to advancements in artificial intelligence and sensor technology, along with substantial investment and support from private companies and governments to enhance safety and efficiency in transportation. Collision avoidance sensors play a crucial role in modern automotive safety by providing real-time information about the vehicle's surroundings and assisting drivers in avoiding collisions or minimizing their impact. It enables autonomous vehicles to navigate safely and confidently in complex environments, reducing accidents and improving road safety. For instance, in December 2022, according to the National Association of Insurance Commissioners, a US-based non-profit organization, there are expected to be 3.5 million autonomous vehicles on American roads by 2025 and 4.5 million by 2030. Therefore, the increasing number of autonomous vehicles drives the collision avoidance sensors market.
Advanced Sensor Technologies Drive Growth In Collision Avoidance Market
Major companies operating in the collision avoidance sensor market are focused on developing innovative products such as lightweight Lidar to enhance vehicle safety, improve efficiency, and enable seamless integration into a wide range of vehicles, from compact cars to commercial trucks and autonomous vehicles. A lightweight lidar solution is a compact and often portable system that uses Lidar (light detection and ranging) technology to perform distance measurements and generate detailed 3D maps of its surroundings. For instance, in June 2021, Velodyne lidar, a US-based automotive technology company, launched its velabitTM sensor, a compact, lightweight Lidar solution designed for advanced driver-assistance systems (ADAS) and autonomous vehicles. The velabitTM offers a wide field of view, high resolution, and long-range detection capabilities to enhance collision avoidance capabilities. The lightweight and versatile Velabit sensor features a small form factor and low power consumption to maximize battery life and vehicle range.
The collision avoidance sensors market covered in this report is segmented -
1) By Technology: Radar, Camera, Ultrasound, LIDAR
2) By Applications: Lane Departure Warning System , Blind Spot Detection, Adaptive Cruise Control, Parking Assistance , Forward Collision Warning System , Autonomous Emergency Braking, Other Applications
3) By End Users: Aerospace And Defense, Automotive, Marine, Other End Users
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Major companies operating in the collision avoidance sensors market are Siemens AG, General Electric, Continental AG, Luminar Technologies Inc., NTT Data Corporation, Aptiv PLC, Alstom SA, Collins Aerospace, Texas Instruments Incorporated, St Microelectronics NV, NXP Semiconductors N.V., Autoliv Inc., Wabtec, Hexagon AB, Saab AB, Sensata Technologies Inc., Donaldson Company Inc., SZ DJI Technology Co. Ltd., Magna International Inc., Ouster Inc., Aceinna Inc., Robert Bosch GmbH
Contents of the report:
1. Executive Summary
2. Collision Avoidance Sensors Market Report Structure
3. Collision Avoidance Sensors Market Trends And Strategies
4. Collision Avoidance Sensors Market - Macro Economic Scenario
5. Collision Avoidance Sensors Market Size And Growth
…..
27. Collision Avoidance Sensors Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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