The global collision avoidance system market is projected to reach $73.8 billion by 2028, at a CAGR of 10.8% during 2023-2028. The growth of collision avoidance system market is driven by rising focus of consumers and OEMs on vehicle safety features, growing demand for autonomous vehicles, and increasing government regulations towards installation of collision avoidance system across the globe.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the collision avoidance system
market by type (adaptive cruise control, parking assistance, lane departure
warning, autonomous emergency braking, and others), technology (LiDAR, radar,
ultrasonic, cameras, and others), application (automotive, aerospace, railway,
marine, construction & mining, and others), and region (North America, Europe,
Asia Pacific, and the Rest of the World)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the collision avoidance system market?
Q.4 What are some
changing demands of customers in the collision avoidance system market?
Q.5 What are the new
developments in the collision avoidance system market? Which companies are
leading these developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this collision avoidance system area and
how big of a threat do they pose for loss of market share via product
substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this collision avoidance system
market?
Market Segmentation:
Based on technology, the
collision avoidance system market is segmented into LiDAR, radar, ultrasonic,
cameras, and others. The parking assistance segment accounted for the largest
share of the market in 2023 and is expected to register the highest CAGR during
the forecast period, because despite increasing population and rising number of
vehicles, the parking space in major cities has either remained the same or
decreased.
APAC is expected to
remain the fastest growing region over the forecast period due to growing sale
of luxury vehicles in emerging countries, like China, and India, along with
increasing adoption of light detection and ranging technology by the armed
forces in the region.
Key Players in the
collision avoidance system market are Robert Bosch, Becker Mining Systems,Denso
Corporation, Wabtec Corporation, Siemens AG, Honeywell International, Rockwell
Collins, Autoliv, Delphi Automotive, Hexagon ABHoneywell, Johnson & Johnson
ADT Corporation, Control4 Corporation, United Technologies.
The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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