Global Collision Avoidance Systems Market Report and Forecast 2024-2032

Global Collision Avoidance Systems Market Outlook

The global collision avoidance systems market stood at a value of more than USD 68.19 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of around 9.70% to reach a value of over USD 156.9 billion by 2032.

Increasing Demand for the LiDAR Technology to Bolster the Growth of the Collision Avoidance Systems Industry

Based on technology, the LiDAR segment accounts for a significant share in the market and is anticipated to witness a considerable growth in the forecast period. LiDAR provides 360-degree view of the environment, which bolsters the safety of the passengers. The accuracy, reliability, and efficiency of the LiDAR technology is likely to propel the popularity of this system among the automotive manufacturers. Over the forecast period, the development of pre-scan technology, which is capable of scanning the road surface several hundred times a second, allows the drivers to be more aware of the obstructions on the way. This factor is anticipated to provide impetus to the market in the forecast period.

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The Asia Pacific Accounts for a Significant Share in the Market

The collision avoidance systems industry in the Asia Pacific is driven by factors such as the stringent safety regulations by the government, thriving automotive industry in emerging nations like India and China, heavy traffic congestion, and rising disposable income. The introduction of latest technology to improve customer experience is likely to propel the market growth in the forecast period. The market in the region will further be aided by the expansion by major automotive players, along with the growing deployment of collision avoidance systems in order to ameliorate the safety and security of passengers.

Collision Avoidance System: Market Segmentation

Collision avoidance system is defined as a type of system which is designed to warn the drivers in order to avoid collisions and reduce the risk of fatal accidents. Technologies such as radar, lasers, cameras, GPS, and artificial intelligence are used in the collision avoidance systems. This technology finds application majorly in the automotive industry.

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Based on technology, the market is segmented into:

• LiDAR
• Radar
• Ultrasound
• Camera

The major applications of the collision avoidance system include:

• Adaptive Cruise Control (ACC)
• Blind Spot Detection (BSD)
• Forward Collision Warning System (FCWS)
• Lane Departure Warning System (LDWS)
• Parking Assistance (PA)
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Application for Adaptive Cruise Control (ACC) and Blind Spot Detection (BSD) to Boost the Growth of the Collision Avoidance Systems Industry

The global collision avoidance systems industry is driven by the rising application of the system in adaptive cruise control (ACC) and blind spot detection (BSD), as they offer utmost security at the time of turning, switching lanes, and overtaking other vehicles. In addition, the growing demand for commercial vehicles, owing to the thriving transportation industry in emerging economies is anticipated to provide lucrative opportunities to the market. Furthermore, the market is anticipated to be bolstered by the rising cases of road accidents, increasing prevalence of reckless driving, and  stringent safety norms imposed by the governments across the countries.

Key Industry Players in the Global Collision Avoidance Systems Market

The report gives a detailed analysis of the following key players in the global collision avoidance systems market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Continental AG
• BorgWarner Inc.
• DENSO CORPORATION
• Analog Devices, Inc.
• Infineon Technologies AG
• Panasonic Corporation
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report