Collision Avoidance Sensors Market is Projected to Reach USD 15 Billion by 2025, Growing at a Whopping 22% CAGR - Report by Market Research Future (MRFR)

New York, US, July 21, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Collision Avoidance Sensors Market information by Technology, by Application, by Region - Forecast till 2027” the market size to touch USD 15 BN by 2025 at a 22% CAGR.

Market Scope:
The global collision avoidance sensors market is a rapidly growing space. The market growth is driven majorly by rising cases of road accidents. Collision avoidance sensors are also extensively used in traffic management systems deployed by transport infrastructures, such as road, air, railway, and marine traffic controls, to avoid accidents and traffic jams. This, as a result, impacts the growth of the market positively.

Dominant Key Players on Collision Avoidance Sensors Market Covered Are:

  • Delphi Automotive LLP (Ireland)
  • NXP Semiconductors (Netherlands)
  • Robert Bosch GmbH (Germany)
  • Continental AG (Germany)
  • Infineon Technologies AG (Germany)
  • Texas Instruments (US)
  • Murata Manufacturing Co., Ltd. (Japan)
  • Siemens AG (Germany)
  • ALSTOM (France)
  • Rockwell Collins (US)
  • Honeywell International Inc. (US)
  • General Electric (US)
  • Saab AB (Sweden)
  • Becker Mining Systems AG (Germany)
  • TRW Automotive (US)
  • Panasonic Corporation (Japan)
  • Takata Corporation (Japan)
  • Sensata Technologies, Inc. (US)
  • Wabtec Corporation (US)
  • Autoliv Inc. (Sweden)

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Market USP Exclusively Encompassed:
Market Drivers
According to Market Research Future (MRFR), government initiatives to promote traffic management systems and passenger safety create vast growth opportunities for the collision avoidance sensor industry. Auto manufacturing is a highly complex as well as expensive task, requiring many small and big components and high-quality sensors. Of these, many sensors are designed to ensure that the owner can identify and prevent possible losses before they could turn into fatal and expensive repairs. Collision avoidance sensors are being deployed throughout the vehicle to meet evolving safety and efficiency standards and address environmental standards.

The rising penetration of advanced driver assistance systems (ADAS) boosts the market share, expanding the range of applications for collision avoidance sensors. ADAS and anti-collision / collision avoidance systems are considered imperative to ensure passenger and vehicle safety. Therefore, these systems are increasingly implemented into vehicles to avoid high-cost vehicle repairs and protection at the sensor level.

Intelligent transportation systems (ITS) are integrated with information and communication technologies to provide highly efficient transportation services, such as traffic management and others. These systems also help improve the operational efficiency, road safety, and sustainability of transportation networks while reducing traffic congestion.

ITSs comprise various components, such as sensors, telematics, communication devices, and other data analytics. Therefore, intelligent transportation systems are widely deployed in various solutions like parking availability systems, collision avoidance systems, and traffic enforcement cameras, among others.

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Segmentation of Market covered in the research:
The collision avoidance sensors market forecast is segmented into technology, application, and region. The technology segment is sub-segmented into radar, camera, ultrasound, and LiDAR. The application segment is sub-segmented into blind spot detection (BSD), adaptive cruise control (ACC), forward collision warning system (FCWS), parking assistance, lane departure warning system (LDWS), and others. The region segment is sub-segmented into the Americas, Europe, Asia Pacific, and rest-of-the-world.

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Regional Analysis
Europe has been consistently dominating the global collision avoidance sensors market. The largest market share attributes to the presence of a considerably large automotive industry and automakers in the region. Moreover, favorable government regulations for automotive safety and airborne collision avoidance system (ACAS) for aircraft safety monitoring systems drive the market growth. The European collision avoidance sensors market is anticipated to maintain its market position throughout the forecast period.

North America holds the second position in the global collision avoidance sensors market in terms of revenue. Market growth is driven by growing advances in sensor technologies and rapid uptake of these sensors in industries, such as railways, construction, and mining. Additionally, the increasing awareness of road traffic safety and technological advances, and increased investments to boost the technology fosters the collision avoidance sensors industry.

The Asia Pacific collision avoidance sensors market has emerged as a profitable market globally. Factors such as the vast sensor industry and the presence of collision avoidance sensor manufacturers in the region positively impact the market growth.

Furthermore, the increasing application areas & uptake of collision avoidance sensors and government initiatives to improve traffic management boost the regional market growth. The APAC collision avoidance sensors market is expected to grow at a rapid CAGR during the forecast period.

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COVID-19 Impact on the Global Collision Avoidance Sensors Market
The COVID-19 outbreak severely hit the collision avoidance sensors industry, causing significant revenue losses. Manufacturers faced many problems ranging from obtaining raw materials & components required to develop collision-avoidance sensors systems to attracting workers from quarantines and delivering end products.
Installations of collision avoidance systems were postponed, which forced manufacturers to cut down on their production output and even halt the production facilities. However, the market is returning to normalcy, witnessing the steadily increasing demand. Also, the market value is projected to pick up following the uplift of the lockdown in many countries.

Impact of COVID-19 on the Collision Avoidance Sensors Market:

Industry Trends
Rise in road accidents is a major factor positively impacting the market growth. Besides, the demand for ADAS and collision avoidance systems increase the collision avoidance sensors market size. Besides, the increased adoption of collision avoidance sensors and favorable government policies augment the market growth. Additionally, the rising demand for ADAS and collision avoidance systems from the automotive sectors fosters the market growth.

Vast advancements in sensing technology and passenger and vehicle safety improvements have been influential for the current market growth. Moreover, the extensive uptake of collision avoidance sensors in various automotive safety systems due to stringent government mandates influences the market growth. Rising uses of these sensors in traffic management systems and road safety norms across the globe escalate the market demand for collision avoidance sensors.

About Market Research Future:
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