Collision Avoidance System Market Size - By Device (Adaptive Cruise Control, Lane Departure Warning, Night Vision, Autonomous Emergency Braking, Electronic Stability Control, Tire Pressure Monitoring System), Technology, Application & Forecast 2023 - 2032

Collision Avoidance System Market Size - By Device (Adaptive Cruise Control, Lane Departure Warning, Night Vision, Autonomous Emergency Braking, Electronic Stability Control, Tire Pressure Monitoring System), Technology, Application & Forecast 2023 - 2032

Collision avoidance system market size is projected to expand at over 5% CAGR from 2023 to 2032. The increasing concerns about road safety, regulatory initiatives for mandating advanced safety features, and the rising adoption of autonomous vehicles is driving the demand for collision avoidance systems. The growing number of vehicles on roads is propelling the higher need to mitigate accidents and reduce fatalities. For instance, in April 2022, global technology company ZF launched its new City Bus Collision Mitigation System (CMS), designed to actively prevent head-on collisions with vehicles, bicycles, and pedestrians.

Additionally, the influx of insurance incentives for promoting the installation of collision avoidance systems is leading to the higher consumer awareness about the benefits of the systems. The surging technological advancements, including radar, LiDAR, and camera-based systems to enhance detection and response capabilities will also complement the industry growth.

The collision avoidance system industry is segregated into device, technology, application, and region.

Based on technology, the industry value from the radar-based systems segment is estimated to rise at substantial CAGR through 2032, owing to their effectiveness in detecting and responding to potential collisions. Radar-based systems offer reliable performance in various environmental conditions, emerging crucial for advanced driver assistance systems. In addition, the increasing demand for enhanced safety features in vehicles and the ongoing technological advancements will also boost the segment growth.

Collision avoidance system market share from the aviation application segment is estimated to experience significant CAGR through 2032, driven by the increasing need for air traffic safety. The rising volume of air traffic, emergency of stringent regulatory standards, and the growing focus on preventing mid-air collisions will also drive the adoption of advanced collision avoidance systems in the aviation sector.

Regionally, the Middle East & Africa collision avoidance system industry is slated to expand at rapid pace between 2023 and 2032. The growth can be attributed to the rising urbanization and infrastructure development. The increasing focus on road safety measures is leading to the higher adoption of advanced driver assistance systems in vehicles. The growing efforts by several governments to prioritize safety solutions will also boost the regional market expansion.