Collision Avoidance System Market Size, Share & Trends Analysis Report By Technology (Radar, Camera, Ultrasound, LiDAR), By Application (ACC, BSD, FCWS, LDWS, Parking Assistance), By Region, And Segment Forecasts, 2023 - 2030

Collision Avoidance System Market Size, Share & Trends Analysis Report By Technology (Radar, Camera, Ultrasound, LiDAR), By Application (ACC, BSD, FCWS, LDWS, Parking Assistance), By Region, And Segment Forecasts, 2023 - 2030

Collision Avoidance System Market Growth & Trends

The global collision avoidance system market size is expected to reach USD 157.47 billion by 2030, expanding at a CAGR of 11.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. The updated ratings of safety agencies and incorporation of anti-collision systems in mass-market models are expected to propel the market growth over the next six years.

The increasing awareness among consumers and extensive R&D by market players have fueled the market growth. Collision avoidance systems enable vehicles to carry out semi-autonomous and autonomous decision-making. The rising need for security from consumers and governments is also expected to drive the collision avoidance systems market growth.

The recent developments in the sensor technology are oriented toward making highly sophisticated devices and augmenting them with various parts of an automobile. Anti-collision systems enable automotive OEMs to integrate additional intelligence to achieve the goal of an autonomous car.

Strict legal and regulatory standards have mandated the inclusion of sensors in motor vehicles. This is further estimated to drive the collision avoidance systems market. However, the high costs of long-range radars and LiDAR-based systems may restrain the market growth as low-price carmakers may abstain from adding onto the cost of vehicles.

Collision Avoidance System Market Report Highlights

• The radar segment held a significant market share of 43.3% in 2022. The segment is further expected to gain market share over the forecast period.
• The reducing prices of radars have led to the increased adoption of the technology by various automotive OEMs
• Camera-based collision avoidance systems are expected to witness high growth, owing to the government regulations mandating their incorporation into vehicles
• Adaptive cruise control accounted for a major market share in 2022. Such systems rely on long-range and medium and short-range radar systems to automatically adjust a vehicle’s speed.
• Technological innovations may mandate the incorporation of systems in vehicles to counter the threat of accidents due to human errors, which account for 90% of accidents, according to a 2014 UN Road Safety Collaboration study
• Europe is expected to continue to lead the market over the forecast period. It accounted for over 33.0% of the market in 2022.
• The key industry participants include Bosch, Continental, Delphi, Denso, Autoliv, and TRW, among others

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