Global Statistics Representing Collision Avoidance Sensor Market Scenario
A collision avoidance sensor system detects objects or obstacles in the path of a moving vehicle so the automated system or human operator can avoid collision with the object. Increasing applications of collision avoidance sensors in automobile, construction, and mining sectors drive the growth of the global collision avoidance sensor market.
The sales of sports utility vehicles (SUVs), utility vehicles, and high-end luxury vehicles is increasing around the world. According to JATO, over 86 million cars were sold in 2017 wherein growth is driven by SUVs, with 27.85 million new SUVs sold globally. The increasing sale of vehicles is expected to be a key growth driver for the global collision avoidance sensor market.
The development of fully-automated self-governing vehicles is expected to fuel the growth of the global collision avoidance sensor market. Innovation and advancements in sensor technology and their implementation in autonomous transportation systems are also expected to positively impact market growth. Autonomous vehicles need sophisticated technologies for driverless operations, in turn is compelling the automotive industry to invest in new fields. For instance, in 2018, Intel bought Mobileye for USD 15.3 billion to expand its collision avoidance sensor business and collaborated with BMW to use these sensors into 40 BMW self-driving test vehicles.
Stringent regulations targeting driver and passenger safety, increasing demand for vehicle safety, and increasing investments from automotive companies drive the growth of the global collision avoidance sensor market. However, the high cost and limited production of collision avoidance sensors may hinder market growth. Extensive research and development by industry leaders and acceptance of self-driving vehicles by consumers are expected to create a growth opportunity for the market.
The global collision avoidance sensor market is segmented by types, technology and region.
On the basis of type, the market can be segmented into Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Lane Departure Warning System (LDWS), parking assistance, and others. Parking assistance systems are a combination of vision-based and ultrasound anti-collision sensors. Lane Departure Warning Systems (LDWSs) have been gaining popularity in recent years due to declining prices of RADAR and camera systems. Adaptive Cruise Control (ACC) uses RADAR to automatically adjust the vehicle’s speed as per the intensity of traffic.
On the basis of technology, the market can be segmented into LiDAR, Camera, RADAR, and Ultrasonic. Among these, RADAR holds the largest market share as the technology offers superior detection systems capable of accurately measuring the location and distance of obstacles. In the case of identification and detection; vision and infrared cameras have gained popularity. LiDAR-based anti-collision sensors consume more installation space and are relatively quite expensive; however, these sensors offer a wide-angle field view and are capable of generating detailed imagery.
Geographically, the collision avoidance sensor market has been segmented into North America, Europe, Asia Pacific, and the Latin America and the Middle East & Africa (LAMEA) wherein North America and Europe account for the most prominent market shares.
North America holds the largest share in the global collision avoidance sensor market, followed by Europe. The implementation of stringent regulations by governments and increasing awareness regarding safety are fueling market growth in the region. The early adaptation of autonomous vehicle technology in North America is driving the demand for collision avoidance sensors. For instance, according to the Autonomous Vehicle Pilots Across America, in 2018, over 50% of U.S. cities were prepared to develop roads for self-driving vehicles.
The collision avoidance sensor market in Europe is experiencing significant growth, driven by stringent government regulations and a flourishing automotive sector. The region has been observing large-scale research on collision warning systems and collision avoidance systems. For instance, the European Union is carrying out extensive research within the European Commission's eSafety program. Additionally, Europe was an early adopter of the collision avoidance technology, which gives it an edge over other regions.
Asia Pacific is expected to present lucrative growth opportunities in the collision avoidance sensor market, backed by the implementation of rigorous safety rules by governments and economic growth. On the other hand, the Latin America and the Middle East & Africa region accounts for the least share in terms of value and volume.
Some of the key players in the global market are Robert Bosch GmbH (Germany), Rockwell Collins, Inc. (U.S.), L3 Technologies (U.S.), Saab AB (Sweden), General Electric (U.S.), Delphi Automotive Plc. (U.K.), Denso Corporation (Japan), Mobileye (Israel), Autoliv, Inc. (Sweden), Becker Mining (Germany), Hexagon (Sweden), Wabtec Corporation (U.S.), Honeywell International, Inc. (U.S.), Alstom (France), and Siemens AG (Germany).
Collision Avoidance Sensor Market Segmentation
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