PUBLISHER: KBV Research | PRODUCT CODE: 1683048
PUBLISHER: KBV Research | PRODUCT CODE: 1683048
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
Restraints * High Initial Cost and Expensive Integration of Collision Avoidance Systems in Vehicles and Equipment
Opportunities * Rising Incidences of Road Accidents and the Need for Improved Traffic Safety Solutions
Challenges * Limitations in System Accuracy and Reliability Under Adverse Weather and Environmental Conditions
Technology Outlook
Based on technology, the market is characterized into radar, camera, ultrasound, and LiDAR. The LiDAR segment procured 6% revenue share in the market in 2023. The rising adoption of LiDAR technology in autonomous and semi-autonomous vehicles played a crucial role in this growth. LiDAR offers high-precision 3D mapping and object detection, making it a key component in advanced collision avoidance systems.
Application Outlook
On the basis of application, the market is classified into adaptive cruise control (ACC), blind spot detection (BSD), forward collision warning system (FCWS), lane departure warning system (LDWS), parking assistance, and others. The forward collision warning system (FCWS) segment recorded 24% revenue share in the market in 2023. Rising concerns over road safety and accident prevention drive this. FCWS technology is increasingly integrated into passenger and commercial vehicles to help drivers detect potential front-end collisions and react in time, reducing the risk of crashes.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded 32% revenue share in the market in 2023. This dominance was driven by the widespread adoption of advanced driver assistance systems (ADAS), stringent vehicle safety regulations, and the presence of key automotive manufacturers and technology providers. The United States and Canada played a crucial role in market expansion, with increasing investments in autonomous vehicle technology and smart transportation solutions further propelling growth.
Collision Avoidance System Market Coverage:
Report Attribute Details
Market size value in 2023 USD 70.50 Billion
Market size forecast in 2031 USD 160.86 Billion
Base Year 2023
Historical period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 11.0% from 2024 to 2031
Number of Pages
Tables
Report Coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Porter's 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments Covered Technology, Application, Region
Country Scope * North America (US, Canada, Mexico, and Rest of North America)
Companies Included Infineon Technologies AG, NXP Semiconductors N.V., Continental AG, DENSO CORPORATION, Aptiv PLC, Robert Bosch GmbH, Analog Devices, Inc., Murata Manufacturing Co., Ltd., Panasonic Holdings Corporation, and Alstom SA
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global Collision Avoidance System Market Report Segmentation
By Technology
By Application
By Geography