Collision Avoidance System Market Size - By Device (Adaptive Cruise Control, Lane Departure Warning, Night Vision, Autonomous Emergency Braking, Electronic Stability Control, Tire Pressure Monitoring System), Technology, Application & Forecast 2023 - 2032

Collision Avoidance System Market Size

Collision Avoidance System Market was valued at USD 58.2 billion in 2022 and is projected to grow at a CAGR of over 5% between 2023 and 2032. Government regulations and safety standards are becoming more stringent globally. This has led to a growing demand for collision avoidance systems in vehicles to reduce accidents and improve road safety. To comply with these safety standards, companies operating in this space are consistently rolling out cutting-edge products, further carving a healthy growth trajectory for the collision avoidance industry.
 

Insurance companies assess the risk of insuring a vehicle and driver based on statistical data. Vehicles equipped with collision avoidance systems are generally considered lower risk because these systems reduce the likelihood of accidents and the severity of collisions. Features like automatic emergency braking and warnings for forward collisions, lane departures, and blind spots help prevent accidents and mitigate their impact. This results in fewer insurance claims being filed and, when claims are made, they tend to have lower costs due to reduced damage and injuries.

The integration of intelligent technology into daily mining operations plays a crucial role in reducing accidents, injuries, and equipment or facility damage. Furthermore, continuous monitoring generates valuable data and analytics that empower mines to proactively address potential hazards and make well-informed decisions, staying one step ahead of safety concerns.
 

COVID-19 Impact

The COVID-19 pandemic significantly impacted the collision avoidance system industry. As the pandemic disrupted supply chains, manufacturing, and economies worldwide, it led to delays in the production and adoption of advanced safety technologies. Reduced automotive sales and economic uncertainties also affected consumer demand for collision avoidance systems. However, the pandemic underscored the importance of safety on the road, potentially driving a long-term increase in the industry's growth as safety remains a top priority for both manufacturers and consumers.
 

Collision Avoidance System Market Trends

Integration of AI and ML will pave a healthy growth pathway for the collision avoidance system industry. AI and machine learning are being harnessed to make collision avoidance systems more intelligent and adaptive. These technologies enable systems to better recognize and respond to complex driving situations, improving the accuracy of collision predictions and reducing false alarms, making the technology more effective and user-friendly.
 

Citing an example, in June 2023, OmniPro unveiled a cutting-edge collision avoidance system driven by visual artificial intelligence. This system is designed to swiftly detect and notify forklift operators about potential hazards in their surroundings, such as pedestrians, objects, and other vehicles. What sets it apart is its adaptability to various operational settings. It captures images and records instances of zone breaches, offering a wealth of data through a cloud-based reporting system to facilitate informed safety decisions. Notably, this system does not rely on wearables or tags, ensuring a streamlined user experience with minimal disruptive alerts.
 

Collision Avoidance System Market Analysis

Based on technology, the collision avoidance system industry is categorized into Radar-Based Systems, LiDAR, Camera-Based Systems, Ultrasonic Sensors and GPS & GNSS. The LiDAR segment will expand at a high CAGR from 2023 to 2032. The LiDAR segment could dominate the technology landscape of the collision avoidance system by 2032. LiDAR's ability to provide high-precision, three-dimensional mapping of a vehicle's surroundings enhances the accuracy of object detection and recognition, making it a critical component for advanced driver-assistance systems (ADAS).
 

Additionally, the decreasing cost and increased availability of LiDAR sensors, along with improved sensor technology and software, make it more accessible for integration into vehicles. The pursuit of enhanced road safety, regulatory requirements, and the growing consumer demand for advanced safety features are also major driving forces behind LiDAR adoption in collision avoidance systems.
 

Based on application, the automotive segment accounted for more than 30% share of the collision avoidance system market in 2022, due to their pivotal role in enhancing road safety. These systems utilize advanced sensors, radar, cameras, and artificial intelligence to detect potential collisions and provide timely warnings or even intervene to prevent accidents. With an increasing emphasis on safety from both regulatory bodies and consumers, there's a growing market for vehicles equipped with these features. Additionally, the reduction of accidents, injuries, and fatalities is a primary motivator, making collision avoidance systems a key focus for automakers and buyers alike.
 

North America collision avoidance system market captured around 32% share in 2022 due to stricter safety regulations and standards spurring the integration of these systems in vehicles. Moreover, heightened consumer awareness and the willingness to invest in advanced safety features have driven the market. Automakers like Tesla have made significant strides in collision avoidance technology, with their advanced driver-assistance systems gaining popularity. Additionally, collaborations with technology companies and startups in the region have accelerated the development and adoption of these systems, making North America a hub for innovation in collision avoidance technology.
 

Collision Avoidance System Market Share

The major enterprises dominating the competitive landscape of the collision avoidance system industry include:

• Autoliv Inc.
• Aviation Communication & Surveillance Systems LLC
• Becker Mining Systems AG
• Delphi Automotive Plc. (Aptiv)
• Denso Corporation
• Hexagon AB
• Mobileye N.V.
• Rockwell Collins Inc. (Collins Aerospace)
• Wabtec Corporation
• Robert Bosch GmbH.

Robert Bosch GmbH and Delphi Automotive Plc. (Aptiv) holds the largest market share, the extensive industry experience and impeccable reputation in the automotive sector make them trusted names among automakers with a global presence encompassing manufacturing, sales, and operations, they offer collision avoidance systems that cater to diverse regional markets. Both companies invest significantly in research and development, ensuring they stay at the forefront of technological advancements and maintain an edge in the fast-evolving field of advanced driver assistance systems (ADAS).
 

Collision Avoidance System Industry News

• For instance, in June 2023, Wabtec Digital Mine unveiled a groundbreaking product known as Wabtec CAS Generation 3, designed to enhance safety in the mining industry. This innovative solution employs voice-based alerts to mitigate alarm fatigue by leveraging advanced sensors and algorithms for the detection of other vehicles and potential hazards within the mining site. Additionally, it offers real-time monitoring of system health, promptly identifying critical system failures, thus enabling immediate decisions regarding safe operations.
   

This collision avoidance system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032 for the following segments:

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Market, By Device

• Adaptive Cruise Control (ACC)
• Blind Spot Detection (BSD)
• Lane Departure Warning (LDW)
• Night Vision (NV)
• Autonomous Emergency Braking (AEB)
• Forward Collision Warning System (FCWS)
• Electronic Stability Control (ESC)
• Tire Pressure Monitoring System (TPMS)
• Driver Monitoring System (DMS)

Market, By Technology

• Radar-Based Systems
• LiDAR
• Camera-Based Systems
• Ultrasonic Sensors
• GPS & GNSS

Market, By Application

• Automotive
• Aviation
• Railway
• Mining
• Marine
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa
  • Saudi Arabia