Collision Avoidance System Market size worth US$20.542 billion by 2027
Knowledge Sourcing Intelligence releases the publication of a new analysis report on the market “Collision Avoidance System Market – which is projected from 2020 to 2027”.
The Collision Avoidance System market is estimated to reach a market size worth US$20.542 billion by 2027.
The collision avoidance system market comprises companies selling collision avoidance systems that are used to prevent or reduce the severity of a collision. Collision avoidance systems are safety systems that warn, notify, or guide drivers in avoiding approaching crashes and minimizing the risk of mishaps by delivering visual and aural alerts to operators or actively enforcing defensive movements such as braking when a collision is imminent.
As per the report, the market for Collision Avoidance Systems Market is expected to grow at a steady pace.
The desire for autonomous cars is projected to boost the collision avoidance system market in the future. Cars that can perceive their environment and function without human intervention are referred to as automated vehicles. Collision avoidance systems such as detectors, sensors, brake assist, lane-keeping, and others are used in automated cars to manage the vehicle and avoid accidents. Furthermore, companies have partnered with others to expand operations which have been lucrative for the market share. For instance, Kayhan Space, a supplier of spaceflight safety software-as-a-service, and Morpheus Space, a developer of spacecraft electric propulsion systems, announced a strategic cooperation in November 2022 to provide satellite operators and missions with a mobility-as-a-service collision avoidance solution.
Furthermore, growing government regulations, along with the development of complex automotive assessment programs, are expected to drive the growth of the collision avoidance system market during the projected period. For instance, In June 2021, IR and Indian enterprises successfully created indigenous cost-effective ATP technology known as the Train Collision Avoidance System (TCAS). Under the Hon’ble Prime Minister’s ‘AtmaNirbhar Bharat’ Mission, it has been agreed to establish TCAS as the National ATP of India. In the first phase, TCAS has been granted for 37300 RKm of critical roads. The implementation of TCAS will reduce train collisions caused by human mistakes and increase the speed potential of IR, decreasing travel time.
Based on type, the collision avoidance system market is divided into forward collision warning, reverse collision warning, adaptive cruise control (ACC), multi-collision brake, and others. The increased sales of Advanced Driver Aid Systems (ADAS), such as blind spot detection, adaptive cruise control, front collision warning setup, and lane departure warning are fueling the industry’s expansion.
Based on technology, the collision avoidance system market is segmented into radar and LiDAR. Radars are recommended in situations when the range and position of any barrier must be precisely determined. Cameras, both visual and infrared, have a narrower field of view than radars, but they aid in determining the type of obstruction.
Based on industry vertical, the collision avoidance system market consists of automotive, material handling, aerospace, and defense and, others. With the rise of the automotive and aerospace industry followed by the defense, these three will primarily surge the market to grow. By expanding their market size and functions, the need for collision avoidance systems is expected to increase during the projected period.
Based on geography segmentation, the collision avoidance system market is segmented into North America, Europe, South America, the Middle East and Africa, and Asia Pacific regions. According to the Indian Society of Automobile Manufacturers, total Commercial Vehicles sales climbed from 568,559 to 716,566 units between 2021 and 2022. Furthermore, according to statistics from the China Association of Automobile Manufacturers, September sales of brand-new energy vehicles (NEV) climbed 93.9% over the previous year in 2022. (CAAM). Therefore, due to the growth of the automotive industry in the Asia Pacific region, the market trend is expected to surge during the projected period.
As a part of the report, the major players operating in the Collision Avoidance System market, that have been covered are key players in the collision avoidance system market including Robert Bosch Gmbh, Denso Corporation, Autoliv Inc., ZF Friedrichshafen AG, Becker Mining, Collins Aerospace, A United Technologies Company, Hexagon AB, Continental AG, Infineon Technologies AG, Panasonic Holdings Corporation, Hyundai Motor Company, Mossy Toyota.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/collision-avoidance-system-market
This analytics report segments the collision avoidance system market on the following basis:
- By Type
- Forward Collision Warning
- Reverse Collision Warning
- Adaptive Cruise Control (ACC)
- Multi-Collision Brake
- By Technology
- By Industry Vertical
- Material Handling
- Aerospace and Defense
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
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