Collision Avoidance Sensors Market Worth $19.6 Billion By 2030: IndustryARC

Collision Avoidance Sensors Market size is expected to reach $19.6 billion by 2030 after growing at a CAGR of 18.9% during the forecast period 2024-2030, according to the latest market research report published by IndustryARC. The increasing focus on road safety, advancements in autonomous vehicle technology and the growth of the automotive industry. are set to drive the Collision Avoidance Sensors Market, finds IndustryARC in its recent report, titled “Collision Avoidance Sensors Market - By Technology (Radar, Camera, Ultrasound and LiDAR), By Application ( Adaptive Cruise Control, Blind Spot Detection, Forward Collision Warning System, Lane Departure Warning System, Parking Assistance, Autonomous Emergency, Braking System (AEBS), Electronic Stability Control, Tire Pressure Monitoring System and Others), By End Use Industry (Automobile, Aerospace & Défense, Maritime, Rail and Others) and By Geography Analysis - Global Opportunity Analysis & Industry Forecast, 2024-2030.

The heightened focus on road and vehicle safety is a primary catalyst for the expansion of the collision avoidance sensors market. According to the WHO reports, road traffic crashes result in the deaths of approximately 1.19 million people around the world each year and leave between 20 and 50 million people with non-fatal injuries, resulting in significant economic and social burdens. These staggering statistics underscore the urgent need for advanced safety technologies, including collision avoidance sensors. Growing consumer awareness of the correlation between advanced safety features and reduced accident rates has fueled demand for collision avoidance technologies. As consumers become more conscious of safety, they are increasingly willing to pay a premium for vehicles equipped with advanced safety features. Several insurance companies offer discounts to drivers with vehicles equipped with collision avoidance systems. This financial benefit further incentivizes consumers to purchase vehicles with these features. Automakers are also engaged in a constant battle to differentiate their products and offering advanced safety features which includes collision avoidance systems has become a key differentiator. Many countries have implemented stringent safety regulations that mandate the inclusion of collision avoidance systems in new vehicles. This regulatory push directly drives demand for these sensors.

• Radar

• Camera

• Ultrasound 

• LiDAR

• Adaptive Cruise Control

• Blind Spot Detection

• Forward Collision Warning System

• Lane Departure Warning System

• Parking Assistance

• Autonomous Emergency

• Braking System (AEBS)

• Electronic Stability Control

• Tire Pressure Monitoring System 

• Others

• Automobile

• Aerospace & Défense

• Maritime

• Rail 

• Others

• North America

• South America

• Europe

• Asia-Pacific

• Rest of the World

The Asia Pacific region is the fastest growing region in terms of CAGR for the collision avoidance sensors market during the forecast period 2024-2030 owing to the burgeoning automotive industry. The Chinese and Indian markets, in particular, have witnessed exponential growth due to significant investments in road infrastructure, increasing vehicle ownership and stringent government regulations mandating advanced safety features. Initiatives such as India's Bharat New Vehicle Safety Assessment Program (BNCAP) and China's New Car Assessment Program (NCAP) have catalyzed the integration of collision avoidance systems into new vehicles by establishing robust safety benchmarks. Moreover, the region's focus on technological advancements and its strategic geographic position as a manufacturing hub for global automotive brands have further solidified its dominance in the collision avoidance sensor market.

Driven by stringent safety regulations, increasing consumer awareness and the burgeoning trend towards autonomous driving, the demand for these sensors within the automotive sector has skyrocketed. Collision avoidance sensors are crucial for enhancing safety and reducing accidents in this segment. Key applications such as adaptive cruise control, lane departure warning, blind spot detection, and automatic emergency braking systems have become standard or optional features in an expanding range of vehicles from economy cars to luxury SUVs. This widespread adoption has solidified the automotive industry's position as the primary consumer of collision avoidance sensors. In March 2024, Stellantis Ventures, the corporate venture fund of Stellantis N.V., announced an investment in SteerLight, the developer of a new generation of high-performance LiDAR (Light Detection and Ranging) sensing technology. The SteerLight LiDAR senses the surrounding environment in three dimensions with higher resolution and precision, and at a lower volume production cost, than currently available LiDAR systems.

Mandatory installation of collision avoidance systems, including sensors like radar LiDAR, and cameras, is becoming a common requirement. Stringent safety mandates imposed by regulatory bodies have accelerated the adoption of these systems as standard equipment in vehicles. Concurrently, the allocation of specific frequency bands for radar and other sensor technologies has been crucial for ensuring optimal performance and preventing interference. Regulatory pressures have accelerated the migration towards 77 GHz radar technology in both automotive and industrial sectors. This shift is driven by the advantages offered by this higher frequency band, including improved range, resolution, and accuracy. While the 24 GHz band, particularly the ISM band used for blind spot detection, remains relevant for certain applications, 77 GHz radar has become the preferred choice for advanced driver assistance systems and other demanding use cases. This regulatory push is significantly driving the market growth as automakers are compelled to integrate these technologies into their vehicles to meet compliance standards.

Collision avoidance sensors have emerged as indispensable components in modern industrial robotics, revolutionizing workplace safety and productivity. This heightened awareness of potential hazards enables robots to operate more autonomously and collaboratively with human workers, fostering increased efficiency and flexibility within manufacturing processes. By implementing these systems, industries can expect a substantial reduction in downtime, due to fewer collisions and interruptions in the production process. Moreover, the decreased frequency of accidents and equipment damage translates to a reduction in maintenance and repair costs. Contact sensors and robotic force sensors’s strategic placement throughout the robotic manipulator, particularly at the end-effector, provides crucial tactile feedback. As per the International Federation of Robotics (IFR), investments in automation typically yield returns within 1 to 2 years, driven by enhanced productivity and decreased operational costs. Additionally, a press release of IFR from April 2024 reveals that U.S. manufacturing companies have significantly increased their automation investments, with industrial robot installations rising by 12% to a total of 44,303 units in 2023. Thus, the integration of collision avoidance sensors in industrial robots presents an opportunity for the manufacturing industries.

By employing advanced algorithms, these sensors can accurately identify and classify objects in real-time, even under challenging conditions. Furthermore, predictive analytics capabilities allow systems to anticipate potential hazards, enabling proactive measures to prevent accidents. Through sensor fusion, AI and ML optimize data utilization, creating a comprehensive understanding of the vehicle's environment. This synergy empowers vehicles to make split-second decisions, such as initiating emergency braking or steering manoeuvres, with enhanced precision and speed. These combinations can enable real-time object recognition, predictive analytics, and improved decision-making. AI is already involved in the automobile industry and will continue to influence technology in the future. For instance, In Jan 2024 Matrix Design Group introduced its OmniPro Vision AI collision avoidance system. Engineered for the demanding conditions of industrial and mining environments, this system offers customizable safety zones and robust performance in low-light and adverse weather. Its versatility makes it adaptable to a wide range of equipment and operating condition.

• Collision Avoidance Sensors Market size and Forecast 

• Collision Avoidance Sensors Market Application

• Collision Avoidance Sensors Market analysis by Technology

• CAGR of the market during the forecast period 2024-2030

• Value Chain analysis of key stake holders

• Detailed analysis of market drivers and opportunities during the forecast period

• Collision Avoidance Sensors Market size estimation and forecast

• Analysis and predictions on end user behavior and upcoming trends 

• Competitive landscape and Vendor market analysis including offerings, developments, and financials

• Comprehensive analysis of challenges and constraints in the Collision Avoidance Sensors Market.

• Robert Bosch GmbH

• Delphi Technologies

• NXP

• Infineon Technologies AG

• Murata Manufacturing Co, Ltd

• Continental AG

• Valeo

• Texas Instruments, Inc

• Denso Corporation

• Pepperl+Fuchs SE

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Mr. Venkat Reddy

IndustryARC

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