The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Collision Avoidance Sensors Global Market Report 2024 offers crucial insights into the collision avoidance sensors market help businesses analyse and build stronger strategies.

• Market Size in 2023: The collision avoidance sensors market reached $4.80 billion in 2023.
• Growth Forecast: The market is expected to grow to $5.34 billion in 2024, at a CAGR of 11.3%.
• Key Drivers: Increased radar resolution, heightened vehicle occupant protection, rising demand for collision avoidance sensors, stricter road safety regulations, and increased sales of SUVs are driving growth.

Strong Expansion Expected Through 2028

• Future Market Size: The market is projected to reach $8.28 billion by 2028, growing at a CAGR of 11.6%.
• Growth Factors: The adoption of autonomous vehicles, rising new car evaluation programs, advancements in sensor technology, and increasing consumer purchasing power for luxury and autonomous vehicles are expected to fuel market expansion.
• Trends to Watch: Advancements in LiDAR and radar technologies, the integration of IoT and connectivity, and expansion in automotive and transportation applications will shape the market.

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Autonomous Vehicles Fuel Market Growth

• Demand Surge: The increasing demand for autonomous vehicles is a significant driver of the collision avoidance sensors market.
• Technology Integration: Autonomous vehicles rely heavily on advanced sensors, AI, and computer systems to operate without constant human intervention, enhancing road safety and efficiency.
• Market Impact: As autonomous vehicles grow in number, with projections estimating 3.5 million on American roads by 2025, the demand for collision avoidance sensors will continue to rise.

Major Players in the Market

• Leading Companies: Siemens AG, General Electric, Continental AG, Luminar Technologies Inc., and NTT Data Corporation are among the key players driving innovation in the market.
• Product Focus: Companies are developing lightweight LiDAR solutions, such as Velodyne’s Velabit sensor, to improve vehicle safety and efficiency across various vehicle types.

Technological Advancements Driving Growth

• Innovative Products: Companies are focusing on developing advanced sensor technologies, such as lightweight LiDAR, to enhance collision avoidance capabilities.
• Key Example: Velodyne Lidar’s Velabit sensor, launched in 2021, is designed for advanced driver-assistance systems (ADAS) and autonomous vehicles. It offers a wide field of view, high resolution, and long-range detection capabilities while maintaining a small form factor and low power consumption.

Epiroc’s Strategic Acquisition in Mining Safety

• Acquisition Details: In February 2023, Epiroc acquired Mernok Elektronik to strengthen its position in mining automation and safety solutions.
• Market Impact: This acquisition highlights the growing importance of collision avoidance sensors beyond automotive applications, particularly in industries like mining where safety is paramount.

Market Segmentation

• By Technology: The market includes radar, camera, ultrasound, and LiDAR technologies.
• By Application: Applications range from lane departure warning systems to adaptive cruise control and parking assistance.
• By End User: The market serves various sectors, including aerospace and defense, automotive, and marine.

Regional Insights

• North America: The largest market for collision avoidance sensors in 2023.
• Asia-Pacific: Expected to be the fastest-growing region during the forecast period, driven by rapid technological adoption and increasing automotive sales.

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The Collision Avoidance Sensors Global Market Report 2024  provides a comprehensive outlook of the collision avoidance sensors market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The collision avoidance sensors market forecast offers a thorough analysis on collision avoidance sensors market size, collision avoidance sensors market share, prominent players and their strategies.

The Table Of Content For The Collision Avoidance Sensors Market Include:
1. Collision Avoidance Sensors Market Executive Summary
2. Collision Avoidance Sensors Market Segments
3. Collision Avoidance Sensors Market Size And Collision Avoidance Sensors Market Growth Rate
4. Key Collision Avoidance Sensors Market Trends
5. Major Collision Avoidance Sensors Market Drivers
……
25. Key Mergers And Acquisitions In The Collision Avoidance Sensors Market
26. Top Collision Avoidance Sensors Companies
27. Collision Avoidance Sensors Market Opportunities And Strategies
28. Collision Avoidance Sensors Market, Conclusions And Recommendations
29. Appendix

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