Collision Avoidance System Market

The global collision avoidance system market size was valued at $47.8 billion in 2020, and is projected to reach $114.5 billion by 2030, growing at a CAGR of 9.1% from 2021 to 2030. 

Collision avoidance system is a safety awareness or a warning system designed to reduce the severity of a collision. Such systems are widely used in automobile and mining sectors to avoid accidents. It is also known as the pre-crash system, forward collision warning system, or collision mitigating system.

The Automotive industry is impacted negatively, due to COVID-19 Pandemic outbreak.

This system helps detect the imminent strike, alerting the driver about any collision. These systems are interpolated within the vehicle to enable semi-autonomous and autonomous decision-making. Moreover, such systems automatically take action without any input from the driver.

The growth of the global collision avoidance system market is anticipated to be driven by factors, such as surge in sales of sports utility vehicles (SUVs) and high-end luxury vehicles & utility vehicles, and increase in demand for automated vehicles. In addition, improved visibility and enhanced safety supplements for various applications such as blind spot collision avoidance assist and others boost the overall market growth. However, cyclic nature of automotive sales and production, and high installation cost act as major restraints of the global collision avoidance system market. On the contrary, rise in the automotive safety norms, electronic integration in automotive, and installation of advanced driver assistance system in passenger cars are expected to create lucrative opportunities for the collision avoidance system industry.

The collision avoidance system market outlook is provided on the basis of type, technology, application, and region. By type, the market is segmented into adaptive cruise control, autonomous emergency braking (AEB), lane departure warning system, parking assistance, and others. By technology, the market is classified into LiDAR, RADAR, ultrasonic, camera, and others. On the basis of application, the market is divided into automotive, aerospace & defense, marine, and rail.

Region-wise, the collision avoidance system market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Europe dominated the collision avoidance system market in 2020, and is projected to register significant growth rate during the forecast period, owing to growth of the aerospace & defense sector. However, Asia-Pacific is expected to witness significant growth rate by the end of the forecast period, followed by LAMEA.

TOP IMPACTING FACTORS

The prominent factors that impact the collision avoidance system market growth are increase in demand for automated vehicles, collision warning system, and improved visibility and enhanced safety. In addition, growth in electronic integration in the transportation sector for collision prevention drives the collision avoidance system market growth. However, high installation cost restricts the market growth. On the contrary, increase in automotive safety norms and electronic integration in automotive are expected to create collision avoidance system market opportunity.

COMPETITION ANALYSIS

Competitive analysis and profiles of the major collision avoidance system market players, such as Alstom SA, Autoliv, Inc., Delphi Automotive PLC (APTIV), DENSO Corporation, General Electric Company, Honeywell International Inc., Robert Bosch GmbH, Collins Aerospace, and Siemens AG, and Wabtec Corporation. are covered in the report. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their position in the global collision avoidance system industry.

COVID-19 IMPACT ANALYSIS

The outbreak of COVID-19 significantly affected the electronics and semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases, and are expected to remain closed in 2021. Furthermore, partial or complete lockdown disrupted global supply chain posing challenges for manufactures to reach customers.

The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak grows day-by-day and affects the overall business globally. The crisis creates uncertainty in the stock market and results in falling business confidence, massive slowing of supply chain, and increases panic among the customer segments.

Asian and European countries under lockdowns suffered major loss of business and revenue, due to the shutdown of manufacturing units. The operations of the production and manufacturing industries were heavily impacted by the outbreak of the COVID-19 pandemic, which further impacted the growth of the collision avoidance system market.

In addition, the COVID-19 pandemic impacted the electronics sector, as the production facilities stalled, which, in turn, boosted the demand for electronics and semiconductor products in the industries. Its major impact includes a large manufacturing interruption across Europe and interruption in Chinese parts exports, which may hinder the growth of the collision avoidance system market.

KEY BENEFITS FOR STAKEHOLDERS

• This study comprises analytical depiction of the global collision avoidance system market size along with the current trends and future estimations to depict the imminent investment pockets.
• The overall collision avoidance system market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current collision avoidance system market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and the collision avoidance system market share of key vendors.
• The report includes the market trends and the market share of key vendors.

 Collision Avoidance System Market Report Highlights