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Collision Avoidance System Market Trends

Report ID: GMI7374
Published Date: Nov 2023
Report Format: PDF

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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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market valuation of collision avoidance system was reached USD 58.2 billion in 2022 and is anticipated to expand at a CAGR of over 5% from 2023 to 2032, attributed to the rollout of stringent government regulations and safety standards reduce accidents and improve road safety.

The automotive application segment accounted for 30% of collision avoidance system market revenue share in 2022 and is likely to record steady growth through 2032, due to increasing demand to enhance road safety.

North America collision avoidance system industry held 32% of revenue share in 2022 and is estimated to witness significant growth between the 2023 and 2032, due to the stricter safety regulations and standards for spurring the integration of the systems in vehicles.

Some of the major collision avoidance system companies are Denso Corporation, Autoliv Inc., Aviation Communication & Surveillance Systems LLC, Delphi Automotive Plc. (Aptiv), Becker Mining Systems AG, Hexagon AB, Rockwell Collins Inc. (Collins Aerospace), Wabtec Corporation, and Robert Bosch GmbH, among others.