The collision avoidance sensors market has experienced rapid growth, increasing from $4.80 billion in 2023 to $5.34 billion in 2024, representing a compound annual growth rate (CAGR) of 11.3%. This expansion is driven by improvements in radar resolution, enhanced vehicle occupant protection, rising demand for collision avoidance technology, stringent road safety regulations, and increased sales of sports utility vehicles. The market is projected to grow to $8.28 billion by 2028 at a CAGR of 11.6%. Key drivers include the growing adoption of autonomous vehicles, new car evaluation programs, ongoing developments in the field, and increasing consumer purchasing power for luxury and autonomous vehicles. Trends to monitor include advancements in sensor technology, the use of LiDAR and radar, expansion in automotive applications, and integration with the Internet of Things (IoT).
Major Driver In The Collision Avoidance Sensors Market
Growth in the collision avoidance sensors market is being propelled by the surging demand for autonomous vehicles. These advanced vehicles utilize cutting-edge sensor technologies and AI for self-operation, with collision avoidance sensors offering real-time data to prevent accidents. The National Association of Insurance Commissioners projected 3.5 million autonomous vehicles on U.S. roads by 2025, increasing to 4.5 million by 2030. This escalating demand is driving the collision avoidance sensors market forward.
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Collision Avoidance Sensors Market Competitive Landscape
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
Key Collision Avoidance Sensors Market Trend
Companies in the collision avoidance sensor market are developing advanced products, such as lightweight Lidar solutions, to enhance vehicle safety and facilitate seamless integration into various vehicles, from compact cars to commercial trucks and autonomous vehicles. Lightweight Lidar systems use light detection and ranging technology for detailed 3D mapping and distance measurement. In June 2021, Velodyne Lidar, a U.S.-based automotive technology company, launched the Velabit™ sensor, a compact and lightweight Lidar solution for advanced driver-assistance systems (ADAS) and autonomous vehicles. The Velabit™ sensor offers a wide field of view, high resolution, and long-range detection, providing efficient collision avoidance capabilities while maximizing battery life and vehicle range.
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Collision Avoidance Sensors Market Segmentation
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
By Geography:The regions covered in the collision avoidance sensors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the collision avoidance sensor Market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Collision Avoidance Sensors Global Market Report 2024 furnishes information about the global collision avoidance sensors market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
