PUBLISHER: KBV Research | PRODUCT CODE: 1683048
PUBLISHER: KBV Research | PRODUCT CODE: 1683048
Global Collision Avoidance System Market Size, Share & Trends Analysis Report By Technology (Radar, Camera, Ultrasound, and LiDAR), By Application, By Regional Outlook and Forecast, 2024 - 2031
The Global Collision Avoidance System Market size is expected to reach $160.86 billion by 2031, rising at a market growth of 11.0% CAGR during the forecast period.
The Europe segment witnessed 35% revenue share in the market in 2023. This is driven by the region's strong automotive industry, stringent safety regulations, and increasing adoption of ADAS. The presence of major automotive manufacturers, coupled with government initiatives promoting vehicle safety and reduced road accidents, significantly contributed to market growth.
The growing adoption of Advanced Driver Assistance Systems (ADAS) in automobiles is a key driver for the market. Automakers are incorporating ADAS features such as automatic emergency braking (AEB), lane departure warning (LDW), adaptive cruise control, and blind-spot monitoring to enhance vehicle safety and reduce accident rates. Hence, Increasing ADAS in automobiles is driving the growth of the market.
Additionally, Government regulations worldwide are crucial in the adoption of these systems across the automotive and industrial sectors. Organizations such as the National Highway Traffic Safety Administration (NHTSA) in the U.S., the European New Car Assessment Programme (Euro NCAP), and the Bharat New Vehicle Safety Assessment Programme (BNVSAP) in India have introduced strict guidelines requiring vehicles to include certain safety features to receive high safety ratings. Thus, stringent government regulations and safety norms for these sectors are driving the market's growth.
However, The high upfront cost of these systems remains a significant barrier to widespread adoption. Advanced technologies such as LiDAR, radar sensors, high-resolution cameras, ultrasonic sensors, and artificial intelligence-based processing units drive up production costs, making these systems expensive for manufacturers and consumers. Thus, high initial costs and expensive integration of these systems in vehicles and equipment are hindering the market's growth.
Driving and Restraining Factors
Drivers * Increasing Adoption of Advanced Driver Assistance Systems (ADAS) in Automobiles
- Stringent Government Regulations and Safety Norms for Automotive and Industrial Sectors
- Expansion of the Automotive Industry and Rising Consumer Awareness of Vehicle Safety Features
Restraints * High Initial Cost and Expensive Integration of Collision Avoidance Systems in Vehicles and Equipment
- Concerns Over Cybersecurity Threats and Vulnerabilities in Connected and Autonomous Vehicles
Opportunities * Rising Incidences of Road Accidents and the Need for Improved Traffic Safety Solutions
- Rising Demand for Unmanned Aerial Vehicles (UAVs) and Autonomous Drones in Various Industries
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Global Collision Avoidance System Market, by Technology
- 1.4.2 Global Collision Avoidance System Market, by Application
- 1.4.3 Global Collision Avoidance System Market, by Geography
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key Highlights
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Collision Avoidance System Market by Technology
Chapter 6. Global Collision Avoidance System Market by Application
Chapter 7. Global Collision Avoidance System Market by Region
Chapter 8. Company Profiles
Chapter 9. Winning Imperatives of Collision Avoidance System Market
LIST OF TABLES
- TABLE 1 Global Collision Avoidance System Market, 2020 - 2023, USD Million
- TABLE 2 Global Collision Avoidance System Market, 2024 - 2031, USD Million
- TABLE 3 Global Collision Avoidance System Market by Technology, 2020 - 2023, USD Million
- TABLE 4 Global Collision Avoidance System Market by Technology, 2024 - 2031, USD Million
- TABLE 5 Global Radar Market by Region, 2020 - 2023, USD Million
- TABLE 6 Global Radar Market by Region, 2024 - 2031, USD Million
- TABLE 7 Global Camera Market by Region, 2020 - 2023, USD Million
- TABLE 8 Global Camera Market by Region, 2024 - 2031, USD Million
- TABLE 9 Global Ultrasound Market by Region, 2020 - 2023, USD Million
- TABLE 10 Global Ultrasound Market by Region, 2024 - 2031, USD Million
- TABLE 11 Global LiDAR Market by Region, 2020 - 2023, USD Million
- TABLE 12 Global LiDAR Market by Region, 2024 - 2031, USD Million
- TABLE 13 Global Collision Avoidance System Market by Application, 2020 - 2023, USD Million
LIST OF FIGURES
