Collision Avoidance System Global Market Report 2023

ReportLinker

Major players in the collision avoidance system market are ZF Friedrichshafen AG, Delphi Technologies PLC, General Electric Company, Mobileye, Denso Corporation, Robert Bosch GmbH, Wabtec Corporation, Alstom SA, Autoliv Inc.

New York, March 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Collision Avoidance System Global Market Report 2023" - https://www.reportlinker.com/p06433775/?utm_source=GNW
, Honeywell International Inc., Ride Vision Ltd., Aptiv Global Operations Ltd., LILEE System Ltd., Knorr-Bremse AG, Hella GmbH & Co. KGaA, Becker Mining Systems AG, Hexagon AB, Aviation Communication & Surveillance Systems LLC, Saab AB, Rockwell Automation Inc., Hyundai Mobis, Mobileeye N.V., Analog Devices, Murata Manufacturing, Freescale Semiconductor, Infineon Technologies, and Panasonic Corporation

The global collision avoidance system market grew from $38.6 billion in 2022 to $43.09 billion in 2023 at a compound annual growth rate (CAGR) of 11.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The collision avoidance system market is expected to grow to $65.57 billion in 2027 at a CAGR of 11.1%.

The collision avoidance systems market consists of sales of electronic stability control (ESC), pedestrian detection systems, and cross-traffic warnings, sensors, such as lasers, GPS, and artificial intelligence.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.

Collision avoidance systems refer to safety systems designed to warn, alert, or assist drivers in avoiding impending collisions and lowering the risk of incidents by providing visual and auditory warnings to operators or by actively enforcing defensive maneuvers such as braking when a collision is impending. The collision avoidance system is used to prevent or decrease the severity of a collision.

North America was the largest region in the collision avoidance system market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this collision avoidance system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main products of collision avoidance systems are adaptive cruise control (ACC), autonomous emergency braking (AEB), lane departure warning systems, parking assistance, and other products.An adaptive cruise control (ACC) collision avoidance system is a type of active safety system that automatically regulates a vehicle’s acceleration and braking system.

The technologies used are lidar, radar, ultrasonic, cameras, and other technologies. The various applications involved automotive, marine, aerospace, railways, and other applications.

An increase in demand for automated vehicles is expected to drive the collision avoidance system market going forward.Automated vehicles refer to vehicles that can sense their surroundings and operate without human intervention.

Automated vehicles use collision avoidance systems such as sensors, cameras, emergency braking, lane-keeping, and others to control the car and avoid accidents. For instance, in 2021, Tesla, a US-based automated car manufacturer, sold 93.6 vehicles globally, an 87% increase from 2020. Therefore, increased demand for automated vehicles is driving the collision avoidance system market.

Technological advancement is a key trend gaining popularity in the collision avoidance system market.Major companies operating in the collision avoidance system market are focused on developing new technological solutions to strengthen their position.

For instance, in November 2020, Ride Vision, an Israel-based collision avoidance system provider, launched the world’s first collision-prevention technology for motorcycles with AI, image-recognition technology, a unique patented human-machine warning interface (HMI), and predictive vision algorithms for 360-degree safety, bike data recording, and product roadmap.An AI-based technology called Ride Vision 1 can warn cyclists of approaching threats like neighbouring automobiles and even potential crashes.

Utilizing one wide-angle camera to survey the area surrounding the bike and one conventional camera improved by software, the RV1 arrangement uses standard cameras to assist riders in making important decisions without being unduly distracted. The product combines image recognition with other AI-based algorithms.

In August 2020, Sensata Technologies, a US-based leading provider of sensing, electrical protection, control, and power management solutions, acquired Preco Electronics for an undisclosed amount.This acquisition of PRECO would extend Sensata’s capabilities in vehicle collision avoidance systems for industrial and heavy vehicle on/off-road (HVOR) markets.

Preco Electronics is a US-based company operating in collision avoidance systems.

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

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.

The collision avoidance system market research report is one of a series of new reports that provides collision avoidance system market statistics, including collision avoidance system industry global market size, regional shares, competitors with a collision avoidance system market share, detailed collision avoidance system market segments, market trends and opportunities, and any further data you may need to thrive in the collision avoidance system industry. This collision avoidance system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06433775/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001