Allied Market Research published a report, titled, “Collision Avoidance System Market by Product (Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Lane Departure Warning System (LDWS), Parking assistance, Others), by Technology (LiDAR, RADAR, Ultrasonic, Camera, Others), by Application (Automotive, Aerospace and Defense, Marine, Rail): Global Opportunity Analysis and Industry Forecast, 2020-2030.” According to the report, the global collision avoidance system industry was estimated at $47.8 billion in 2020, and is anticipated to hit $114.5 billion by 2030, registering a CAGR of 9.1% from 2021 to 2030.
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Drivers, Restraints, and Opportunities
Rise in sales of sports utility vehicles (SUVs) and high-end luxury vehicles & utility vehicles, and surge in demand for automated vehicles drive the growth of the global collision avoidance market. On the other hand, high installation cost impedes the growth to some extent. However, emergence of high-end automotive safety norms and electronic integration in automotive are expected to create lucrative opportunities in the industry.
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Covid-19 Scenario
- Since the automotive industry was highly affected during the pandemic, the demand for collision avoidance system experienced a steep decline too, especially during the initial period. This factor has had a negative impact on the market.
- However, the market is projected to get back on track soon.
The RADAR Segment to Dominate by 2030
By technology, the RADAR segment contributed to the major share in 2020, holding nearly one-third of the global collision avoidance system market. The ultrasonic segment, however, would cite the fastest CAGR of 11.2% during the forecast period. The ultrasound sensor comes with high sensitivity, high frequency, and high penetrating power, which drive the adaptations of these sensors.
The Automotive Segment to Hold the Major Share
By application, the automotive segment accounted for the major share in 2020, holding nearly three-fifths of the global collision avoidance system market. Features such as reduced severity of an accident, reduced damage to the property in unavoidable circumstances, and increased safety fuel the adoptions of the collision avoidance systems in automobiles globally, thus boosting the growth of the segment. The aerospace and defense segment, on the other hand, is expected to grow at the fastest CAGR of 11.9% from 2021 to 2030. Growing importance of unmanned aircraft systems (UAS) for civilian and military applications drives the segment growth.
Europe, Followed by North America Garnered the Lion’s Share in 2020
By region, the market across Europe, followed by North America, had the lion’s share in 2020, generating nearly three-fifths of the global collision avoidance system market. Factors such as increased demand for advanced braking system and presence of safe road conditions drive the market growth. The Asia-Pacific region, simultaneously, is projected to portray the fastest CAGR of 11.0% by 2030, owing to high investment in the automotive sector in this province.
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Key Players in the Industry
- Alstom SA
- Delphi Automotive PLC (Aptiv)
- Autoliv Inc.
- Denso Corporation
- General Electric Company
- Honeywell International Inc.
- Robert Bosch GmbH
- Siemens AG
- Wabtec Corporation
- Collins Aerospace
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