Collision Avoidance Sensors Market Size, Share & Trends Analysis Report By Application, By Technology (Radar, Camera, Ultrasound, LiDAR, Others), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Collision Avoidance Sensors Market Size, Share & Trends Analysis Report By Application, By Technology (Radar, Camera, Ultrasound, LiDAR, Others), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Collision Avoidance Sensors Market Growth & Trends

The global collision avoidance sensors market size is anticipated to reach USD 15.09 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 15.3% from 2024 to 2030. 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.

Collision Avoidance Sensors Market Report Highlights

• The adaptive cruise control (ACC) segment dominated the market and accounted for a market revenue share of 26.9% in 2023. As concerns regarding road safety continue to rise, consumers and regulatory agencies increasingly demand enhanced safety features in vehicles.
• Radar technology accounted for the largest market revenue share in 2023. Developing high-resolution radar sensors with improved angular resolution and better object discrimination capabilities allows for more precise detection of potential hazards.
• The automotive sector accounted for the largest market revenue share in 2023. As EV adoption accelerates globally due to environmental concerns and government incentives, manufacturers increasingly incorporate advanced safety features into these vehicles.
• Asia Pacific collision avoidance sensors market is anticipated to witness the fastest growth during the forecast period.

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