Anti-Collision Sensor Market expected to reach a value of approximately USD 22.35 billion by the year 2025
Published Date | 2019 June 24
According to BlueWeave Consulting, the Global Anti-collision Sensor market expected to grow at a CAGR of 18.5% from 2018 to reach a value of approximately USD 22.35 billion by the year 2025. Due to the introduction and incorporation of collision avoidance systems in passenger and commercial vehicles, road accidents decreased while providing vehicle occupants with increased protection. In the forecast period, stringent government policies and regulations concerning the installation of vehicle safety features will foster the global anti-collision sensor market.
The driving forces market growth is rising consumer awareness, high focus on automotive manufacturers ' research and development, and updated safety ratings from regulatory bodies. In addition, growth in sales of sports and luxury vehicles coupled with the supply of sensors in these vehicles will help accelerate the growth of the market for anti-collision sensors at the time of the accident. However, the growing number of on-road vehicles coupled with increasing road accidents affects the anti-collision technology, which will further contribute to the demand for anti-collision sensors during the forecast period.
In addition, recent technological advancements in sensors are focused on building highly sophisticated devices and increasing their performance using various vehicle components coupled with anti-collision systems to allow automotive OEMs to incorporate additional intelligence in order to achieve the goal of creating an autonomous vehicle. In addition, the increase in traffic, coupled with traffic sensors, provides driver assistance and information on the parking space and guides the vehicles to park effectively to increase the global market for anti-collision sensors over the forecast period.
Amidst the technology sector Radar Technology anticipated to contribute with a significant rate in Anti-collision Sensor Market
Based on technology, the Anti-collision Sensor market fragmented into Radar, Ultrasonic, LiDar, and Camera. Due to its features, including providing accurate location measurement and obstacle scale, the radar segment dominates the global Anti-collision system. LiDAR-based anti-collision sensors provide a wide-angle field view & are capable of generating detailed imagery.
Adaptive Cruise Control Application sector in Anti-collision Sensor Market projected to witness lucrative growth rate during the forecast period
On the basis of application, the Anti-collision Sensor market segmented into Adaptive Cruise Control, Blind Spot Monitor, Forward Collision Warning System, Lane Department Warning System, and Parking Sensor. Owing to its features such as maintaining optimal separation between vehicles and reducing driver error, Adaptive Cruise Control expected to lead the Segment. Blind Spot Monitor will expand due to features including monitoring of the vehicle's sides and rear.
Automobile end user segment projected to prompt anti-collision Sensor market in upcoming years
On the basis of End-User segment, the Anti-collision Sensor market categorized into Automobile, Aerospace and Defense, Industry, Rail, and Maritime. Due to the increasing demand for advanced automated technology such as automatic braking, automatic parking, blind spot detection, collision avoidance, driver drowsiness detection and GPS navigation, the automotive industry expected to lead the market by End-User Industry. Rail end-user segment anticipated to contribute with significant growth rate to prevent any unintended injuries by its applications.
Europe expected to witness a lucrative growth rate in the global Anti-collision Sensor market during the anticipated period.
On the basis of region, the Anti-collision Sensor market segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe dominates the world market for anti-collision sensors over the forecast period due to the growth of the automotive industry combined with a high demand for automotive goods. The Asia Pacific regional segment anticipated to be the fastest growing region due to population growth in the automotive industry, combined with a rise in adaptation to automation.
Global Anti-collision Sensor Market Competitive Landscape
Leading players such as Robert Bosch GmbH, Continental AG, TRW Automotive, Wadeco, Denso Corporation, ZF Friedrichshafen, NXP Semiconductors, Murata Manufacturing Co. Ltd., Yaskawa, Delphi Automotive, Texas Instruments, Aisin Seiki Co and Autoliv AB are the key players in the global Anti-collision Sensor market.
Browse Detailed Analysis with TOC, “Global Anti-collision Sensor Market Size, By Technology (Radar, Ultrasonic, LiDar, and Camera), By Application (Adaptive Cruise Control, Blind Spot Monitor, Forward Collision Warning System, Lane Department Warning System, and Parking Sensor), By End-User Industry(Automobile, Aerospace and Defense, Industry, Rail, and Maritime), By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Growth Potential, Trends Analysis, Competitive Market Size and Forecast, 2015-2025”