The global Collision Avoidance Sensors Market size is expected to reach USD 18.97 billion by 2025, according to a new study conducted by Grand View Research, Inc., displaying a 21.2% CAGR during the forecast period. The integration of anti-collision systems in mass-market vehicles and updated safety ratings of agencies are expected to fuel market growth over the next few years.
Increasing consumer awareness and an
extensive focus on research and development by industry players have been major
growth drivers for the market. The installation of collision avoidance systems
allows vehicles to perform autonomous and semi-autonomous decision-making.
Growing demand for vehicle security by consumers and government vehicle safety
regulatory agencies is also expected to drive the growth of the collision
avoidance sensors market.
Recent technological developments in
sensors are focused on building highly sophisticated devices and augmenting
their performance using various components of the vehicle. Anti-collision
systems enable automotive OEMs to integrate additional intelligence to
accomplish the goal of developing an autonomous vehicle.
Stringent regulatory and legal standards
have mandated the addition of sensors to enhance safety features in vehicles.
These are expected to drive demand for collision avoidance sensors over the
forecast period. However, high cost of LiDAR-based systems and long-range
radars may cause a hindrance to market growth as manufacturers of low-priced
cars may refrain from installing sensors to avoid increase overall price of
vehicles.
Request a free sample copy or view report summary: Collision Avoidance Sensors Market Report
Collision Avoidance Sensors Market Report
Highlights
- Integration of collision avoidance systems in vehicles is expected
to help reduce the number of vehicle accidents due to human errors, which account
for about 90% of accidents, according to a 2014 UN Road Safety
Collaboration study
- The radar segment is projected to account for 44.5% of the global
market by 2025. Declining prices of radars have led to their increased
adoption by various Original Equipment Manufacturers (OEMs) of automobiles
- Due to mandatory government regulations regarding the incorporation
of camera-based collision avoidance systems into vehicles, the camera
segment is expected to witness high growth over the forecast period
- The Forward Collision Warning System (FCWS) segment is expected to
account for a major market share by 2025 as these systems help in
significantly decreasing rear-end collisions or accidents
- Over the forecast period, Europe is anticipated to retain its position
as the market leader in the adoption of collision avoidance sensors and
systems and is anticipated to reach USD 5.80 billion by 2025
- Key market participants include NXP Semiconductors, Continental AG,
Delphi Automotive, Robert Bosch GmbH, and Murata Manufacturing Co., Ltd.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment