NEWARK, Del, June 07, 2022 (GLOBE NEWSWIRE) -- The Front Collision Warning Market is expected to reach USD 11,282.8 Mllion by 2032, from USD 2,925.0 Mn in 2022, at a CAGR of 14.5% during the forecast period of 2022 to 2032.
Front collision warning (FCW) systems are designed to alert drivers of an impending crash and help them avoid or mitigate collisions. FCW systems use sensors such as radar or cameras to detect objects in the vehicle's path and warn the driver if a collision is imminent. Such systems are also known as pre-collision systems or forward collision avoidance systems.
Front collision warning systems are becoming increasingly popular in new vehicles due to their ability to improve safety on the roadways. In addition, FCW systems can also help reduce insurance premiums for motorists. The Front Collision Warning market report covers all key parameters such as product innovation, market dynamics, opportunities, and geographical outlook for the Front Collision.
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As per FMI, the global front collision warning market is expected to be dominated by Europe. Front collision warning market in Europe is projected to top US$ 4,222.0 Mn by 2032.
“Front collision warning systems are intended to assist drivers in avoiding rear- end vehicle crashes. Increasing safety awareness among drivers and surging focus on road safety are expected to boost the demand for these systems in the forecast period,” says an FMI analyst.
Key Takeaways:
· The ultrasonic sensor segment is projected to hold approximately 35.3% of the total market share in 2022.
· The OEM segment is anticipated to grow at 14.5% CAGR through 2032.
· Europe will emerge as an attractive front collision warning market globally and is expected to create an incremental dollar opportunity of US$ 3,193.3 Mn in the forecast period.
· Passenger vehicle segment is expected to reach about US$ 7,823.3 Mn by end of the forecast period.
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Competitive Landscape
Key market participants in the front collision warning market elaborated in the report include Continental AG, Robert Bosch GmbH, Magna International, Delphi Automotive, ZF Friedrichshafen, Denso Corporation, Gentex Corporation, Honeywell International Inc., Wabtec Corporation and others.
The global front collision warning market is dominated by a few large players. Major players focus on providing a wide range of high- tech safety features designed to reduce crashes, reduce driver distraction and enhance comfort for vehicle drivers. The major players in the market also aim at improving vehicle safety by helping avoid accidents of vehicles. They are focusing on increasing the manufacturing capacity as well as focusing on advanced technology development for vehicles. For instance:
· In Feb 2020, Continental AG announced the opening of a new manufacturing plant in US. The purpose is expansion of production capacity of radar sensors for advanced driver assistance systems and expand the company’s market position as well.
Front Collision Warning Market by Category
By Technology:
- Ultrasonic Sensor
- Lidar Sensor
- Radar Sensor
- Camera Sensor
- Infrared Sensor
- Pressure Sensor
By Sales Channel:
- OEM
- Aftermarket
By Vehicle Type:
- Passenger Vehicles
- LCV
- HCV
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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More Insights into the global front collision warning market Report
In its latest report, FMI offers an unbiased analysis of the global front collision warning market, providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on Technology (Ultrasonic Sensor, Lidar Sensor, Radar Sensor, Camera Sensor, Infrared Sensor, Pressure Sensor), By Sales Channel (OEM, Aftermarket), by vehicle type (Passenger Vehicles, LCV, HCV) & By Region ( North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product innovation & Diversification
4.3. Marketing and Brand management
4.4. Supply Chain Management
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