Collision Avoidance Sensors Market Forecasts to 2030 – Global Analysis By Technology (Camera, Lidar, Radar, Ultrasound and Other Technologies), Application, End User and By Geography

Collision Avoidance Sensors Market Forecasts to 2030 – Global Analysis By Technology (Camera, Lidar, Radar, Ultrasound and Other Technologies), Application, End User and By Geography

According to Stratistics MRC, the Global Collision Avoidance Sensors Market is accounted for $5.9 billion in 2023 and is expected to reach $14.6 billion by 2030 growing at a CAGR of 13.9% during the forecast period. Collision avoidance sensors are advanced technologies designed to detect and mitigate the risk of collisions between vehicles, objects, or obstacles in various environments, such as automotive, industrial, and aerospace settings. By continuously monitoring the surroundings, these sensors can detect potential collision risks, provide timely warnings, or automatically intervene to prevent accidents.

Market Dynamics:

Driver:

Growing emphasis on vehicle safety

With a growing awareness of the human and economic toll of road accidents, there is a collective global push toward enhancing safety measures in vehicles. Governments, regulatory bodies, and consumers are placing greater importance on technologies that can prevent collisions and mitigate their severity. Moreover, collision avoidance sensors play a crucial role by offering real-time detection of potential hazards and enabling quick, automated responses, such as emergency braking. These factors accelerate market demand.

Restraint:

High implementation cost

The implementation of advanced sensor technologies, including radar, LiDAR, and cameras, requires substantial financial investments for both manufacturers and end-users. These costs encompass not only the procurement of sophisticated sensor components but also the expenses associated with research, development, and integration into vehicles or industrial machinery. As a result, the high initial costs associated with collision avoidance sensors serve as a significant restraint on the market.

Opportunity:

Advancements in sensor technologies

The continuous evolution of radar, lidar, and camera technologies has resulted in sensors that are more sophisticated and reliable. Radar systems, utilizing radio waves to detect objects and their velocities, have seen advancements in frequency modulation and signal processing, allowing for higher precision and improved range. Additionally, advancements in camera technologies, including higher resolution and improved image processing algorithms, enhance the vision-based capabilities of collision avoidance systems.

Threat:

Environmental impacts

The production, utilization, and disposal of electronic components integral to these sensor systems contribute to electronic waste, posing a challenge to sustainability. The manufacturing processes involve the extraction of raw materials, energy consumption, and emissions, contributing to the industry's overall carbon footprint. Additionally, end-of-life disposal presents challenges for recycling and responsible waste management. Therefore, environmental impact is a significant threat hampering market demand.

Covid-19 Impact

The COVID-19 pandemic significantly impacted the collision avoidance sensor market. The decreased consumer purchasing power and economic uncertainties contributed to a decline in demand for new vehicles equipped with these safety features. Moreover, the pandemic prompted a shift in focus within the automotive industry towards the production of essential vehicles, such as those for medical and emergency services, diverting attention and resources from the integration of advanced safety technologies.

The radar segment is expected to be the largest during the forecast period

The radar segment is estimated to hold the largest share. Radar technology plays a pivotal role in collision avoidance sensors, offering a sophisticated and widely adopted solution for detecting and preventing collisions. Radar systems utilize radio waves to determine the range, angle, and velocity of objects within their vicinity. Moreover, in industrial settings, radar sensors are utilized in machinery and equipment to prevent collisions and enhance workplace safety.

The parking assistance segment is expected to have the highest CAGR during the forecast period

The parking assistance segment is anticipated to have lucrative growth during the forecast period. Parking assistance systems are a significant component of the collision avoidance sensors designed to simplify and enhance the parking experience while minimizing the risk of collisions. The technology often includes features such as parking sensors that gauge the distance between the vehicle and obstacles, as well as automated parking assistance that can control steering and braking during parallel or perpendicular parking.

Region with largest share:

Asia Pacific commanded the largest market share during the extrapolated period owing to rapid economic development, urbanization, and a burgeoning automotive sector. Countries like China, Japan, South Korea, and India are at the forefront of integrating collision avoidance sensors into vehicles and industrial machinery. As these nations witness substantial increases in traffic density, there is a growing emphasis on safety, prompting the adoption of advanced sensor technologies.

Region with highest CAGR:

Europe is expected to witness profitable growth over the projection period, owing to strong automotive industry, technological innovation, and a commitment to advancing road safety. The region has witnessed widespread integration of collision avoidance sensors in vehicles, driven by stringent safety regulations and the pursuit of reducing road accidents. Additionally, the focus on smart and connected transportation solutions further propels the demand for collision avoidance systems in this region.

Key players in the market

Some of the key players in the Collision Avoidance Sensors Market include Siemens AG, General Electric Company, Honeywell International Inc., Robert Bosch GmbH, Infineon Technologies AG, DENSO Corporation, NXP Semiconductors N.V., Murata Manufacturing Co., Ltd., Texas Instruments Inc., Delphi Automotive LLP, Takata Corporation, Sensata Technologies, Inc. and Panasonic Corporation.
Key Developments:

In October 2023, Siemens and Microsoft have announced a joint project to use AI to increase productivity and bring the benefits of generative AI to industries worldwide.
In April 2023, Siemens Digital Industries Software and IBM announced they are expanding their long-term partnership by collaborating to develop a combined software solution integrating their respective offerings for systems engineering, service lifecycle management and asset management.

Technologies Covered:
• Camera
• Lidar
• Radar
• Ultrasound
• Other Technologies

Applications Covered:
• Lane Departure Warning System• Blind Spot Detection• Adaptive Cruise Control• Parking Assistance• Forward Collision Warning System• Autonomous Emergency Braking• Other Applications
End Users Covered:
• Aerospace & Defense
• Automotive
• Marine
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
JapanChinaIndiaAustralia
New Zealand
South Korea
Rest of Asia Pacific• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements