Press release
Forward Collision Warning System For Automotive Market Poised for 12 % Growth, Set to Hit $59.36 Billion by 2029
Forward Collision Warning System For Automotive Market Size
As the instances of road accidents escalate, there is growing need for forward collision warning systems in the automotive industry. Injuries and fatalities resulting from vehicle crashes can be significantly reduced through the use of these systems. These systems work by gauging the speed of the vehicle and issuing visual alerts whenever a collision risk is detected. For instance, The Road Safety Charity, Bake, a government organization based in the UK, reported in October 2023 that there were 1,766 fatalities due to road accidents in the UK in 2022, with 1,711 in Britain and 55 in Northern Ireland. Moreover, the fatality count surged by 10% compared to 2021. Therefore, the upswing in road accidents is anticipated to stimulate the expansion of forward collision warning systems in the automotive industry.
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What is the future CAGR of the forward collision warning system for automotive market, and how will it impact industry expansion?
The market for forward collision warning systems in automobiles has seen a swift expansion in the past few years. It is projected to increase from $33.99 billion in 2024 to $37.9 billion in 2025, representing a compound annual growth rate (CAGR) of 11.5%. The remarkable growth during the earlier period can be credited to heightened consciousness about road safety, consumer appetite for safety attributes, escalating frequency of road mishaps, government endeavours to enhance road safety, augmented vehicle production, and amalgamation with sophisticated driver aid systems.
The market size for the forward collision warning system in automobiles is poised to experience substantial growth in the coming years. The anticipated rise is projected to reach $59.36 billion by 2029, with an expected compound annual growth rate (CAGR) of 11.9%. Several factors contributing to the growth during the forecast period can be traced back to the increasing focus on automobile safety ratings, the worldwide expansion of the Advanced Driver Assistance Systems (ADAS) market, urbanization and growing traffic congestion, regulatory requirements, collaboration with the insurance sector, and the progress in developing customizable warning alerts. The period also foresees some noteworthy market trends such as integration with Advanced Driver Assistance Systems (ADAS), collision mitigation and autonomous emergency braking (AEB), pedestrian and cyclist detection technologies, multi-sensor fusion tech, better false alarm reduction systems, and adoption of vehicle-to-everything (v2x) communication.
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What are the most significant trends transforming the forward collision warning system for automotive market today?
Rapid progress in technology is an emerging trend in the automotive collision warning systems market. Numerous businesses engaged in this industry are creating new products or technologies in order to secure a competitive edge. For instance, in August 2023, new safety systems were deployed by Volvo Trucks, a manufacturing company based in Sweden. The GSR introduces functions such as Front Short Range Assist to alert drivers of impending collisions and Intelligent Speed Assist for speed limit notifications. Additionally, the system includes advancements like a Tire Pressure Monitoring System for timely pressure warnings, Door Opening Warning, and Auto Hold; these enhancements are available in Volvo FH, FM, and FMX models. This technology keeps a constant eye on the road conditions ahead, triggering an alert to the driver seconds before a possible collision, ultimately preventing any accidental impacts in the automotive sector.
Which key market segments comprise the forward collision warning system for automotive market and drive its revenue growth?
The forward collision warning system for automotive market covered in this report is segmented -
1) By Type: Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Lane Departure Warning System (LDWS), Parking Assistance, Other Types
2) By Technology: LIDAR, Radar, Camera, Ultrasonic, Other Technologies
3) By Sales Channel: OEM, Aftermarket
4) By Application: Aerospace And Defense, Marine, Rail, Automotive
Subsegments:
1) By Adaptive Cruise Control (ACC): Standard ACC, Dynamic ACC
2) By Autonomous Emergency Braking (AEB): AEB With Pedestrian Detection, AEB With Cyclist Detection, AEB With Vehicle Detection
3) By Lane Departure Warning System (LDWS): Lane Keeping Assist, Lane Departure Prevention
4) By Parking Assistance: Front Parking Sensors, Rear Parking Sensors, 360-Degree Camera Systems
5) By Other Types: Collision Avoidance Systems, Blind Spot Detection Systems, Cross-Traffic Alert Systems
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What regions are at the forefront of forward collision warning system for automotive market expansion?
North America was the largest region in the forward collision warning system for the automotive market in 2024. The regions covered in the forward collision warning system for automotive market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the forward collision warning system for automotive market?
Major companies operating in the forward collision warning system for automotive market are Velodyne LiDAR Inc., Gentex Corporation, ZF Friedrichshafen AG, Continental AG, Denso Corporation, BorgWarner Inc., Mobileye Global Inc., Honeywell International Inc., Robert Bosch GmbH, Siemens AG, Autoliv Inc., Infineon Technologies AG, Panasonic Corporation, Bendix Commercial Vehicle Systems LLC, Toyota Motor Corporation, WABCO Vehicle Control Services, RTX Corporation, Valeo Group, Aptiv PLC, Hitachi Astemo Ltd., NXP Semiconductors, STMicroelectronics N.V.
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What Is Covered In The Forward Collision Warning System For Automotive Global Market Report?
• Market Size Forecast: Examine the forward collision warning system for automotive market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the forward collision warning system for automotive market for a structured understanding.
• Key Players Overview: Analyze major players in the forward collision warning system for automotive market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the forward collision warning system for automotive market.
• Segment Contributions: Evaluate how different segments drive overall growth in the forward collision warning system for automotive market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the forward collision warning system for automotive market.
• Industry Challenges: Identify potential risks and obstacles affecting the forward collision warning system for automotive market.
• Competitive Landscape: Review strategic developments in the forward collision warning system for automotive market, including expansions, agreements, and new product launches.
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