According to the new market research report published by Credence Research ” Global Anti-Collision Sensors Market (Sensor Technology (Radar sensor, LiDar Sensor, Ultrasound Sensor and Camera Sensor); Applications (Forward Collision Warning System, Adaptive Cruise Control, Blind Spot Monitor, Lane Department Warning System, Parking Sensor and other); End-user (Automotive, Aerospace and Defense, Rail, Industrial and Others) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall anti-collision sensors market worldwide was valued at US$5.5 Bn in 2018 and is set to grow with a CAGR of 22.3% during the forecast period.
The anti-collision sensors are integrated with the automatic safety systems to avoid a collision. It is primarily used in the aerospace, automotive, rails, and other industrial vehicles and the different types of machinery. These anti-collision sensors are used different technologies including radar, sonar or ultrasound to detect the objects on the path of movie vehicles and reduce the severity of a collision. Additionally, the rising prevalence of accidence is the key factor that drives the growth of anti-collision sensor market. According to the WHO, globally around 1.35 million people die due to road accidents, every year. This is the reason why government organizations across various regions are largely focusing on creating awareness to increase adoption of such sensors in the vehicles to avoid any road accidents.
Furthermore, rising trend of adopting autonomous or semi-autonomous vehicles are also projected to enhance the demand for the anti-collision sensors market. Moreover, the growing adoption of safety systems such as adaptive cruise control, lane departure warning systems and others in the vehicles are contributing to the growth of anti-collision sensors market. Moreover, ongoing technological advancements in the sensors technologies are projected to create several growth opportunities in anti-collision sensors market in the near future.
The global anti-collision the sensors market is segmented on the basis of sensors technology, applications, and the end-use industry. The radar technology holds the maximum market share in the anti-collision sensors market, it is expected to dominate the anti-collision sensors market through the forecast period. The radar sensors technology is most usable sensor technology in the collision avoidance system. The wide range, high precision and the accuracy of radar sensors are promoting its growth in the several collision avoidance systems.
Furthermore, the Camera sensors are anticipated to grow with the highest CAGR over the forecast period. The high adoption of camera sensors in the Unmanned Aerial Vehicles (UAVs) is projected to create several growth opportunities in the anti-collision sensors market. Moreover, by end-use industries, the global anti-collision sensors market is led by the automotive industry. The anti-collision sensors are majorly being used across several automotive assistance systems applications that will create further opportunities for the growth of anti-collision sensors in the automotive industry.
Based on the regional scenario, Asia Pacific is the largest and fastest-growing regional segment in the anti-collision sensors market followed by Europe. The government initiatives to regulate traffic and road accidents is the key factor that drives the growth of anti-collision sensors market in the Asia Pacific region. The presence of major manufacturers in this region including are Aisin Seiki Co. Ltd., Denso and others are contributing to the growth of the anti-collision sensors market in Asia Pacific. Europe is one of the major producer and the consumer of the vehicles. Additionally, the automotive industry is the largest private investor in R&D in Europe. Thus, these high R&D investments and the technological advancements are driving the growth of Europe anti-collision sensors market.
The key players operating in the anti-collision sensors market include
• Continental AG
• NXP Semiconductor
• Robert Bosch GmbH
• ZF Friedrichshafen
• TRW Automotive
• Denso Corporation
• Texas Instruments
• Aisin Seiki Co
• Delphi Automotive
• Autoliv AB
Browse the full report at https://www.credenceresearch.com/report/anti-collision-sensors-market
The Global Anti-Collision Sensors Market is Segmented into:
|Segmentation||By Sensor Technology Segment (2017–2027; US$ Bn)|
|By Application Segment (2017–2027; US$ Bn)|
|By End-Use Industry Segment (2017–2027; US$ Bn)|
|By Geography Segment (2017–2027; US$ Bn)|
*Complete segmentation list is on report page