Press release
Collision Avoidance Sensors Market Poised for 11.5 % Growth, Set to Hit $2718.41 Billion by 2029
Collision Avoidance Sensors Market
The growing interest in autonomous vehicles is expected to drive the growth of the collision avoidance sensors market. Autonomous vehicles are self-driving cars that use advanced sensors, computer systems, and artificial intelligence to navigate without human intervention. This rising demand is driven by advancements in AI and sensor technology, as well as significant investments from both private companies and governments aiming to improve safety and transportation efficiency. Collision avoidance sensors are crucial for automotive safety by providing real-time environmental data and assisting vehicles in avoiding collisions. For instance, the National Association of Insurance Commissioners projected in December 2022 that there would be 3.5 million autonomous vehicles on U.S. roads by 2025, and 4.5 million by 2030. Thus, the growing number of autonomous vehicles is boosting the collision avoidance sensors market.
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What is the future CAGR of the collision avoidance sensors market, and how will it impact industry expansion?
The collision avoidance sensors market has seen significant growth in recent years. It is projected to grow from $5.34 billion in 2024 to $5.97 billion in 2025, with a compound annual growth rate (CAGR) of 11.8%. This growth is driven by the advancement in radar resolution for vehicles, a heightened focus on occupant protection, a growing demand for collision avoidance sensors, stricter road safety regulations, and a rise in sports utility vehicle sales.
The collision avoidance sensors market is anticipated to grow quickly, reaching $9.22 billion in 2029 at a CAGR of 11.5%. Factors contributing to this growth include the increasing use of autonomous vehicles, new car evaluation programs, advancements in the field, growing demand for collision avoidance sensors, and rising consumer spending on luxury and autonomous vehicles. Major trends include technological advancements, improved sensor technology, the use of LiDAR and radar, growth in automotive and transportation applications, and the rise of IoT and connectivity.
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What are the most significant trends transforming the collision avoidance sensors market today?
Leading companies in the collision avoidance sensor market are innovating with technologies like 4D radar to improve vehicle safety, efficiency, and reliability, especially in challenging environments like GNSS-denied areas. This 4D radar technology enhances safety by providing real-time awareness and collision prevention in difficult operational conditions. For example, in September 2024, Hexagon launched a collision avoidance system (CAS) that integrates 4D radar for better vehicle-to-object detection and vehicle-to-vehicle alerting, specifically designed for mining operations. The system also includes an advanced insights platform for collision risk analysis and improving operational safety.
Which key market segments comprise the collision avoidance sensors market and drive its revenue growth?
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
Subsegments:
1) By Radar: Short-Range Radar, Long-Range Radar, Millimeter-Wave Radar
2) By Camera: Monocular Cameras, Stereo Cameras, Surround-View Cameras
3) By Ultrasound: Proximity Sensors, Parking Sensors, Blind-Spot Detection Sensors
4) By LIDAR: 2D LIDAR, 3D LIDAR, Solid-State LIDAR
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What regions are at the forefront of collision avoidance sensors market expansion?
North America was the largest region in the collision avoidance sensor Market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the collision avoidance sensors 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 collision avoidance sensors market?
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
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What Is Covered In The Collision Avoidance Sensors Global Market Report?
•Market Size Forecast: Examine the collision avoidance sensors market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the collision avoidance sensors market for a structured understanding.
•Key Players Overview: Analyze major players in the collision avoidance sensors market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the collision avoidance sensors market.
•Segment Contributions: Evaluate how different segments drive overall growth in the collision avoidance sensors market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the collision avoidance sensors market.
•Industry Challenges: Identify potential risks and obstacles affecting the collision avoidance sensors market.
•Competitive Landscape: Review strategic developments in the collision avoidance sensors market, including expansions, agreements, and new product launches.
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