LONDON, May 16, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the anti-collision sensor market highlights that the global market is poised to grow in the coming years, fueled by increase in road accidents and traffic congestion. Anti-collision sensors use a combination of technologies such as radar, lasers, cameras, GPS, and artificial intelligence to alert and assist drivers in avoiding accidents.
The anti-collision sensor market share is expected to grow from $10.4 billion in 2022 to $12.3 billion in 2023 at a CAGR of more than 18%. The market is then projected to reach a market size of $24.7 billion in 2027 at a CAGR of more than 19%. The Asia-Pacific region was the largest market for anti-collision sensors in 2022.
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Major anti-collision sensor companies include Delphi Automotive, Denso Corporation, Robert Bosch GmbH, TRW Automotive, Continental AG, ZF Friedrichshafen, NXP Semiconductors N.V., Honeywell International Inc., Siemens AG, Wadeco Co. Ltd., Texas Instruments, Aisin Seiki Co., Autoliv AB, Raytheon Technologies, and GEM Electronica.
Technological advancements is gaining traction in the anti-collision sensor market. Leading companies are focused on developing innovative solutions to strengthen their market position. In June 2021, Sick AG launched scanGrid2, a safety sensor that uses a proprietary solid-state LiDAR technology to increase the productivity of small autonomous and line-guided transport trucks while guarding against hazardous areas up to Performance Level C. This technology offers significant potential for collision avoidance.
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The global anti-collision sensor market is segmented as -
1) By Vehicle Type: Passenger Cars, Commercial Vehicles
2) By Technology: Camera Sensor, Lidar Sensor, Radar Sensor, Ultrasonic Sensor
3) By Application: Forward Collision Warning System, Blind Spot Monitor, Lane Department Warning System, Parking Sensor, Other Applications
4) By End-User: Aerospace And Defense, Automotive, Industrial, Rail, Other End Users
The anti-collision sensor market report provides an overview of the market, highlighting the expected growth in the market due to the rise in road accidents and the increasing focus on technological advancements. The report also offers information on how players are adopting advanced technologies to stay relevant in the market.
Anti-Collision Sensor Global Market Report 2023 by The Business Research Company provides insights on the anti-collision sensor market size, anti-collision sensor market segments, anti-collision sensor market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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