Collision Avoidance Sensors Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Collision Avoidance Sensors Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, August 28, 2024 /EINPresswire.com/ -- The collision avoidance sensors market has experienced robust growth in recent years, expanding from $4.80 billion in 2023 to $5.34 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to increase the resolution of radars driving vehicles, increasing protection to vehicle occupants, increase demand for collision avoidance sensors, increasing emphasis on implementing strict road safety regulations, and increase in sales of sports utility vehicles.

Strong Future Growth Anticipated

The collision avoidance sensors market is projected to continue its strong growth, reaching $8.28 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to growing use of autonomous vehicles, rising new car evaluation programs, increasing developments in the fields, rising demand for collision avoidance sensors, rising consumer purchasing power for luxury and autonomous vehicles.

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Growth Driver Of The Collision Avoidance Sensors Market

The increasing demand for autonomous vehicles is expected to propel the growth of the collision avoidance sensors market going forward. Autonomous vehicles are self-driving cars that employ advanced sensor technologies, computer systems, and artificial intelligence to operate and navigate without constant human intervention or monitoring. The increasing demand for autonomous vehicles is due to advancements in artificial intelligence and sensor technology, along with substantial investment and support from private companies and governments to enhance safety and efficiency in transportation. Collision avoidance sensors play a crucial role in modern automotive safety by providing real-time information about the vehicle's surroundings and assisting drivers in avoiding collisions or minimizing their impact. It enables autonomous vehicles to navigate safely and confidently in complex environments, reducing accidents and improving road safety.

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Major Players And Market Trends

Key players in the collision avoidance sensors market include Siemens AG, General Electric, Continental AG, Luminar Technologies Inc., NTT Data Corporation, Aptiv PLC, Alstom SA.
Major companies operating in the collision avoidance sensor market are focused on developing innovative products such as lightweight Lidar to enhance vehicle safety, improve efficiency, and enable seamless integration into a wide range of vehicles, from compact cars to commercial trucks and autonomous vehicles. A lightweight lidar solution is a compact and often portable system that uses Lidar (light detection and ranging) technology to perform distance measurements and generate detailed 3D maps of its surroundings.

Segments:

1) By Technology: Radar, Camera, Ultrasound, LIDAR
2) By Applications: Lane Departure Warning System, Blind Spot Detection, Adaptive Cruise Control, Parking Assistance, Forward Collision Warning System, Autonomous Emergency Braking, Other Applications
3) By End Users: Aerospace And Defense, Automotive, Marine, Other End Users

Geographical Insights: North America Leading The Market

North America was the largest region in the collision avoidance sensor Market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the collision avoidance sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Collision Avoidance Sensors Market Definition

Collision avoidance sensors are devices designed to detect obstacles or hazards in the path of a moving vehicle and provide warnings or take corrective actions to prevent collisions. They are crucial for enhancing safety by continuously monitoring the vehicle's surroundings and alerting drivers or autonomous systems to potential dangers, thereby helping to avoid accidents.

Collision Avoidance Sensors Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Collision Avoidance Sensors Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on collision avoidance sensors market size, collision avoidance sensors market drivers and trends, collision avoidance sensors market major players, collision avoidance sensors competitors' revenues, collision avoidance sensors market positioning, and collision avoidance sensors market growth across geographies. The collision avoidance sensors market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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