The market for collision avoidance sensors is anticipated to grow at a CAGR of 11.9% over the forecast period, from a projected US$ 5.01 billion in 2022 to an estimated US$ 15.42 billion in 2032.
An automobile safety system called a collision avoidance system uses a variety of technologies to warn the driver of the vehicle and lower the chance of an accident. Even though there have been several technological advancements in cars, the incidence of accidents is increasing.
This is particularly true for collisions at intersections, which account for the majority of all collisions worldwide. In light of this, it is advised that intersection collision systems be included in vehicles as part of the vehicle safety system.
The CPU and controller in a collision avoidance system are in charge of completing tasks and managing each component, such as the various sensors and indications. When an object or other vehicle moves in front of a sensor, the sensor detects it or senses it, sending a signal to the controller, who then takes further action by the system in question.
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These sensors come in a variety of forms, including cameras, laser light sensors, ultrasonic sound sensors, and many others. The output would be delivered to the LCD display positioned in front of the driver, and the buzzer would also start making noises to inform the driver if the system needed it.
The market for collision avoidance sensors has grown rapidly over the past few years, and with improvements in camera, RADAR, LiDAR, and ultrasound technologies, it is anticipated that this growth will continue during the period of forecasting.
Collision Avoidance Sensor Market: Market Dynamics
The key trend of the global collision avoidance sensors market is the growing demand for automotive safety systems by users and hence the different automobile safety system manufacturers are focusing on developing innovation in technology and investing in R&D to remain competitive in the market.
The key growth drivers of the global collision avoidance sensor market are increasing customer awareness towards automotive safety systems along with the increasing interest of consumers to avail of inbuilt collision avoidance systems even in entry-level automotive vehicles are playing a key role as a growth driver for the global automotive collision avoidance sensor market.
On the other hand, the functional limitation of collision avoidance sensors which are not sufficient to sense all types of accidents hence further advancement is necessary in that is presently hindering the growth of the global collision avoidance sensor market and is acting as the key restraint for this market.
Collision Avoidance Sensor Market: Key Players
The key players in the global collision avoidance sensor market are Bosch Limited, DENSO CORPORATION, Delphi Automotive LLP, Autoliv Inc., Infineon Technologies AG, Murata Manufacturing Co. Ltd. Analog Devices Inc. & others.
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KEY SEGMENTS
By Technology:
- Radar
- Camera
- Ultrasound
- Lidar
- Others
By Function Type:
- Adaptive
- Automated
- Monitoring
- Warning
By Application:
- Adaptive Cruise Control (ACC)
- Blind Spot Detection (BSD)
- Forward Collision Warning System (FCWS)
- Lane Departure Warning System (LDWS)
- Parking Assistance, Night Vision (NV)
- Autonomous Emergency Braking
- Others
By Industry Vertical:
- Automotive
- Rail
- Marine
- Aerospace & Defence
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- META
- Europe
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