Collision Avoidance Sensors Market Report 2024

The collision avoidance sensors market size has grown rapidly in recent years. It will grow from $4.8 billion in 2023 to $5.34 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth observed in the historic period can be credited to several factors, including enhanced radar resolution for vehicle operation, improved vehicle occupant protection, increased demand for collision avoidance sensors, stringent implementation of road safety regulations, and rising sales of sports utility vehicles (SUVs).

The collision avoidance sensors market size is expected to see rapid growth in the next few years. It will grow to $8.28 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. Anticipated growth in the forecast period is driven by the expanding adoption of autonomous vehicles, the rise of new car assessment programs, continuous advancements in technology, increasing demand for collision avoidance sensors, and growing consumer affluence driving sales of luxury and autonomous vehicles. Key trends in this period include technological advancements, progress in sensor technologies, adoption of advanced systems such as LiDAR and radar, broader application in automotive and transportation sectors, and integration with the Internet of Things (IoT) and connectivity solutions.

The collision avoidance sensors market is set to grow, driven by increasing demand for autonomous vehicles. These vehicles, which operate without constant human intervention, rely on advanced sensor technologies, computer systems, and artificial intelligence to navigate. The rising adoption of autonomous vehicles stems from advancements in AI and sensor technology, coupled with significant investments by private companies and governments to enhance transportation safety and efficiency. Collision avoidance sensors are pivotal in modern automotive safety, providing real-time data on surroundings to help drivers avoid accidents or mitigate their impact. They enable autonomous vehicles to navigate safely in complex environments, thereby reducing accidents and enhancing road safety. For instance, the National Association of Insurance Commissioners projected 3.5 million autonomous vehicles on American roads by 2025 and 4.5 million by 2030, underscoring the market's growth driven by increasing autonomous vehicle adoption.

Leading firms in the collision avoidance sensor market are concentrating on innovative solutions, such as lightweight Lidar, to bolster vehicle safety, efficiency, and compatibility across various vehicle types, from compact cars to commercial trucks and autonomous vehicles. Lightweight Lidar systems use light detection and ranging (Lidar) technology to measure distances and create detailed 3D maps of surroundings. For example, in June 2021, Velodyne Lidar introduced its velabitTM sensor, a compact and lightweight Lidar solution tailored for advanced driver-assistance systems (ADAS) and autonomous vehicles. The velabitTM sensor offers a broad field of view, high resolution, and long-range detection capabilities, enhancing collision avoidance functionalities. Its compact design and low power consumption optimize battery life and vehicle range, making it versatile for integration into various automotive platforms.

In February 2023, Epiroc, a Sweden-based company specializing in manufacturing heavy machinery, completed the acquisition of Mernok Elektronik for an undisclosed sum. This acquisition is aimed at bolstering Epiroc's leadership in providing automation and safety solutions tailored for mining operations worldwide. Mernok Elektronik, headquartered in South Africa, is recognized for its expertise in manufacturing collision avoidance sensors, which are crucial components for enhancing safety in mining environments.

Major companies operating in the collision avoidance sensors market are Siemens AG, General Electric, Continental AG, Luminar Technologies Inc., NTT Data Corporation, Aptiv PLC, Alstom SA, Collins Aerospace, Texas Instruments Incorporated, St Microelectronics NV, NXP Semiconductors N.V., Autoliv Inc., Wabtec, Hexagon AB, Saab AB, Sensata Technologies Inc., Donaldson Company Inc., SZ DJI Technology Co. Ltd., Magna International Inc., Ouster Inc., Aceinna Inc., Robert Bosch GmbH.

North America was the largest region in the collision avoidance sensor Market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the collision avoidance sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the collision avoidance sensors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Collision avoidance sensors are devices crafted to identify obstacles or hazards in the path of a moving vehicle. They issue alerts or enact corrective measures to prevent collisions, thereby crucially enhancing safety. By continuously monitoring the vehicle's surroundings, these sensors notify drivers or autonomous systems of potential dangers, thereby aiding in accident prevention.

The primary technology types for collision avoidance sensors include radar, camera, ultrasound, and lidar. Radar-based sensors utilize radio waves to detect the presence, speed, and direction of objects surrounding the vehicle. They find application in diverse areas such as lane departure warnings, blind spot detection, adaptive cruise control, parking assistance, forward collision warnings, and autonomous emergency braking. These sensors are utilized across various sectors including aerospace, defense, automotive, marine, and others.

The collision avoidance sensors market research report is one of a series of new reports that provides collision avoidance sensors market statistics, including collision avoidance sensors industry global market size, regional shares, competitors with a collision avoidance sensors market share, detailed collision avoidance sensors market segments, market trends, and opportunities, and any further data you may need to thrive in the collision avoidance sensors industry. This collision avoidance sensors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The collision avoidance sensors market consists of revenues earned by entities by providing communication and coordination software, and signal processing software. The market value includes the value of related goods sold by the service provider or included within the service offering. The collision avoidance sensors market consists of sales of infrared sensors, and ultrasonic sensors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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