Collision Avoidance Sensors Market to Reach USD 20.74 Bn by 2030, Driven by Advancements in Automotive Safety Technology

Collision Avoidance Sensors Market

Collision Avoidance Sensors Market Research Report with Types and Application Analysis

AUSTIN, TEXAS, UNITED STATES, April 4, 2024 /EINPresswire.com/ — The SNS Insider report indicates that the Collision Avoidance Sensors Market Size was valued at USD 4.2 billion in 2022 and is expected to reach USD 20.74 billion by 2030, growing at a CAGR of 22.1% over the forecast period 2023-2030.

The Collision Avoidance Sensors Market is experiencing a remarkable growth trajectory driven by a convergence of technological advancements, increasing automotive sales, and a growing emphasis on vehicle safety. With rapid developments in sensor technology, particularly in RADAR, vision systems, and infrared cameras, collision avoidance sensors are becoming more accurate and reliable, enabling safer navigation in various industries.

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Major Key Players of Collision Avoidance Sensors(PLC) Market:

Delphi Automotive LLP (Ireland)

Continental AG (Germany)

Robert Bosch GmbH (Germany)

DENSO CORPORATION (Japan)

Texas Instruments (US)

Infineon Technologies AG (Germany)

Murata Manufacturing Co. Ltd. (Japan)

ALSTOM (France)

NXP Semiconductors (Netherlands)

Siemens AG (Germany)

Rockwell Collins (US)

Major Segments and Sub-Segment of Collision Avoidance Sensors(PLC) Market are Listed Below:

By Technology

Radar

Camera

Ultrasound

LIDAR

By Application

Adaptive Cruise Control

Blind Spot Detection

Forward Collision Warning System

Lane Departure Warning System

Parking Assistance

Market Report Scope

An automated system or human operator can avoid colliding with an object by using a collision avoidance sensor system to identify objects or obstacles in their path. The global collision avoidance sensor market is expanding due to expanding applications for collision avoidance sensors in the mining, construction, and automotive industries. The demand for better sensory technology has increased as a result of both the rise in accidents worldwide and the introduction of automated driving assistance systems. Vendors have begun introducing element-specific automobile sensors to provide the highest level of accuracy. These sensors operate on the echo-ranging principle, which involves the ranger sending a high-frequency light, radio, or audio frequency. These sensors are used in new ADAS systems being put into cars for higher security levels because they can foresee any potential contact. The sensor’s intensity can be adjusted appropriately. The 360-degree cameras and laser technology make it simpler for the driver to feel the contact and even see what has happened in the sensory range. In the most typical case, sensors prevent collisions when a driver reverses their car in a parking lot.

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Market Analysis

Collision avoidance systems have prospects thanks to the rising use of linked vehicles and the Internet of Things (IoT) in the automotive sector. To improve accident detection and prevention capabilities, connected automobiles can make use of real-time data from numerous sources, including other vehicles, traffic infrastructure, and cloud-based systems. For instance, the audio equipment manufacturer HARMAN has unveiled HARMAN Savari MECWAVE, an ultra-low-latency edge-based computation platform for crucial connection.

Segmentation Analysis

Based on technology

The RADAR segment dominates the market due to its precise measurement of obstacle location and distance. In terms of application, the automotive segment leads, driven by the increasing sales of luxury vehicles and the development of autonomous driving technology.

Growth Factors

Rapid advancements in sensor technology, particularly in RADAR (Radio Detection and Ranging), vision systems, and infrared cameras, have significantly enhanced the capabilities of collision avoidance sensors. These advancements enable more accurate detection and categorization of obstacles, leading to improved safety measures in various industries, especially automotive.

The automotive sector is witnessing a substantial increase in sales, particularly in high-end luxury vehicles, utility vehicles, and SUVs globally. With the growing adoption of collision avoidance sensors in vehicles, driven by stringent safety regulations and consumer demand for enhanced safety features, the market is experiencing a significant boost in demand.

The development and adoption of fully automated self-driving cars are driving the demand for collision avoidance sensors. As autonomous vehicle technology continues to evolve, there is a growing emphasis on incorporating advanced safety systems, including collision avoidance sensors, to ensure safe navigation and minimize the risk of accidents.

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Impact of Russia Ukraine War

The Syrian conflict has been a humanitarian crisis ever before Russia began intervening there in September, significant potential flashpoint in the deteriorating U.S.-Russian relationship. Senior U.S. defense officials have highlighted realistic ways to deconflict military actions between the two countries in order to reduce the risk of unintentional escalation or confrontation. Israel and Turkey, two significant regional players, have developed analogous deconfliction techniques. Nevertheless, a number of tragic incidents have occurred on Syria’s crowded battlefield accidents and close calls, such as the unintentional downing of a Russian II-20 military, the Syrian military used planes to gather intelligence, and audacious Russian private military contractors attacked an outpost guarded by American special operations forces troops. Without a doubt, Russia’s relatively modest military investment in Syria has paid off handsomely, and the Russian military has essentially controlled events. The Syrian civil war’s course was changed by the Kremlin, which also succeeded in preserving the regime of President Bashar al-Assad. The operation significantly increased Moscow’s leverage on the US and its regional allies and firmly reinstated it among the major participants in Middle Eastern power dynamics. With only a few hundred mercenaries, thirty to forty combat aircraft, twenty or so helicopters, and no more than 4,000 to 6,000 ground troops stationed inside Syria at any given time far less than the vastly superior military capabilities arrayed in other parts of the Middle East by the United States Russia’s intervention was carried out on the cheap.

Impact of Ongoing Recession:

Advanced economies and emerging market and developing economies are in recession for the first time since the Great Depression. Growth in advanced economies is anticipated to be -6.1% this year. The projection for emerging market and developing economies in 2022 is for negative growth rates of -1.0%, and -2.2%if you remove China. These countries have normal growth rates that are significantly higher than those of mature nations. Over 170 countries are expected to have a decline in per capita income. In 2021, it’s anticipated that emerging market and developing economies will partially recover.

Key Regional Development

According to regional analysis, North America’s market will account for the greatest revenue share in 2022. Rising new car evaluation programs and regulations as well as rising customer awareness of automobile safety are the main drivers boosting market revenue growth in this area. Over the course of the projection period, the Asia Pacific market is anticipated to grow its revenue at an extremely rapid rate. The need for collision avoidance systems is increasing in sectors like construction, mining, and logistics, which is one of the key factors fueling the expansion of the market in this area. The European market is anticipated to have reasonably fast revenue growth. The expansion of collision avoidance system uses across numerous industries, including automotive, aerospace, and marine, among others, is a key reason fueling this region’s market revenue growth.

Key Takeaways

Rapid growth expected in the collision avoidance sensors market, driven by advancements in automotive safety technology.

RADAR technology dominates the market due to its precise obstacle detection capabilities.

Automotive applications lead the market, fueled by the development of autonomous driving technology.

North America accounts for the greatest revenue share, followed by Asia Pacific and Europe.

Recent Development

In March 2021: NASA and SpaceX have entered into a contract focusing on sharing data and coordinating flight safety to prevent launch collisions and conjunctions between NASA spacecraft and SpaceX Starlink satellites.

Table of Content

Introduction

Research Methodology

Market Dynamics

Impact Analysis

Value Chain Analysis

Porter’s 5 forces model

PEST Analysis

Collision Avoidance Sensors Market Segmentation, By Technology

Collision Avoidance Sensors Market Segmentation, By Application

Regional Analysis

Company Profile

Competitive Landscape

USE Cases and Best Practices

Conclusion

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