Automotive Collision Avoidance System Market Analysis and Future Outlook for Businesses Operating in the Industry by 2030
Automotive Collision Avoidance System Market Research report :
According to MRFR analysis, the global Automotive Collision Avoidance System Market is expected to register a CAGR of ~ 8% from 2022 to 2030 and hold a value of over USD 11 Billion by 2030.
The automotive industry is set to involve a few structural changes in the near term owing to the rapid developments in novel technologies. Artificial intelligence (AI) and machine learning will significantly transform the manufacturing process refining robotic efficiency, accuracy, and consistency. Level 2 automation including active safety systems and driver assistance is permitting OEMs to add attractive features and bolster revenue growth.
The automotive Collision Avoidance System market is rapidly reaching its pre-COVID levels and a healthy growth rate is projected over the forecast period driven by the economic revival in most of the developing nations. Frequent suspension of public transport systems coupled with the highly contagious nature of the virus pushed the need for passenger cars leading to the derived demand for Automotive Collision Avoidance System products.
Regional Analysis
North America is expected to lead the marketplace all through the forecast year. This growth is attributed to advanced mid-air collision solutions provided by U.S.-based key players such as Rockwell Collins, Inc., Wabtec Corporation, General Electric Company, and others to secure the air-path of several commercial aircraft.
Asia-Pacific is projected to capture the fastest growth during the forecast year. It occurs due to the rising sales of luxury vehicles from emerging economies such as China and India. The growing use of light detection and ranging (LiDAR) technology by the armed force of China is expected to increase the market growth.
Europe is also shown significant market growth during the estimated period. This growth is attributed to the growing use of automated driving systems (ADS) in the U.K. and Germany. In the Rest of the World, the rising adoption of blind-spot detection and lane departure warning set up in Latin America and the Middle East & Africa pushes the market.
Market Segmentation
The Global Automotive Collision Avoidance System Market has been segmented into the product, and Application
Based on the Product, The Global Automotive Collision Avoidance System Market has been segmented into Radar, Lidar, Camera, and Ultrasonic. Radars are preferred in the setup that needs accurate determination of the distance and location of any obstacle. Cameras, both vision, and infrared have a shorter field of view than radars but aid in identifying the type of obstacle.
Based on Application, The Global Automotive Collision Avoidance System Market has been segmented into Passenger Cars and Commercial Vehicles. The commercial Vehicles segment is accounted for to hold the largest revenue share. Vehicles implemented with parking aid make use of an array of ultrasound and vision-based.
Key Players
Some of the key market players are Aptiv Plc (Republic of Ireland), Robert Bosch GmbH (Germany), General Electric Company (US), Denso Corporation (Japan), Honeywell International, Inc. (US), Hexagon AB (Sweden), Inc. (US). Siemens AG (Germany), Alstom SA (France), and Rockwell Collins .
Top Trending Reports: –
Automotive Insurance Market Size
Electric Commercial Vehicle Market Size
Electric Three-Wheeler Market Size
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian