Rising sales of sport utility vehicles (SUVs) and luxury vehicles and high-end utility vehicles, along with rising demand for automated vehicles, are driving the growth of the global collision avoidance market.
PORTLAND, Oregon., April 7, 2022 /PRNewswire/ — Allied Market Research has released a report titled, “Collision Avoidance System Market by product (adaptive cruise control (ACC), autonomous emergency braking (AEB), lane departure warning system (LDWS), park assist, others), by technology (LiDAR, RADAR, ultrasonic, camera, Others), by Application (Automotive, Aerospace & Defense, Marine, Rail: Global Opportunities Analysis and Industry Forecast, 2020-2030. » According to the report, the global collision avoidance systems industry was estimated at $470.8 billion in 2020, and should reach $114.5 billion by 2030, registering a CAGR of 9.1% from 2021 to 2030.
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Drivers, constraints and opportunities
Rising sales of sport utility vehicles (SUVs) and luxury vehicles and high-end utility vehicles, along with rising demand for automated vehicles, are driving the growth of the global collision avoidance market. On the other hand, the high setup cost is hampering the growth to some extent. However, the emergence of high-end automotive safety standards and electronic integration in automobiles are expected to create lucrative opportunities in the industry.
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- Since the automotive industry has been greatly affected during the pandemic, the demand for collision avoidance system has also experienced a sharp decline, especially in the initial period. This factor had a negative impact on the market.
- However, the market should get back on track soon.
The RADAR segment will dominate by 2030
By technology, the RADAR segment contributed the majority in 2020, holding nearly a third of the global market for collision avoidance systems. The ultrasonic segment, however, would cite the fastest CAGR of 11.2% over the forecast period. The ultrasonic sensor has high sensitivity, high frequency and high penetrating power, which determine the adaptations of these sensors.
The automotive segment will hold the majority
By application, the automotive segment represented the major part in 2020, holding nearly three-fifths of the global market for collision avoidance systems. Features such as reduced severity of an accident, reduction of property damage under unavoidable circumstances, and increased safety are fueling the adoption of collision avoidance systems in automobiles globally, thereby driving the growth of the segment. The aerospace and defense segment, on the other hand, is expected to grow at the fastest CAGR of 11.9% from 2021 to 2030. The growing importance of unmanned aircraft systems (UAS) for civil and military drives the growth of the segment.
Europefollowed by North America got the lion’s share in 2020
By region, the market across Europefollowed by North America, captured the lion’s share in 2020, generating nearly three-fifths of the global market for collision avoidance systems. Factors such as increased demand for advanced braking systems and presence of safe road conditions are driving the growth of the market. the Asia Pacific The region, simultaneously, is expected to post the fastest CAGR of 11.0% by 2030, due to the high investments in the automotive sector in this province.
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Major Industry Players
- Alstom S.A.
- Delphi Automotive PLC (Aptiv)
- Autoliv inc.
- Denso Company
- General electricity company
- Honeywell International Inc.
- Robert Bosch GmbH
- Siemens AG
- Wabtec Company
- Collins Aerospace
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