- Increasing awareness about vehicle security will drive the market growth.
- High price of the technology will restrain the market growth.
- Global collision avoidance sensors market is highly fragmented.
Global collision avoidance sensors market is set to witness a healthy CAGR of 21.45% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising adoption from luxury automobile manufacturers and increasing sale of luxury vehicles are the factor for the growth of this market.
Market Definition: Global Collision Avoidance Sensors Market
Collision avoidance sensors are electronic safety equipment which is specially designed so that that it can reduce the chances of collisions. They use different technology such as LiDAR, GPS RF detection, radar, camera and others so that they can detect any crash. They gives warning to the driver whenever any collision is detected by the system and if no action is taken by the driver; they automatically take necessary action so that it can be avoided. They are widely used in applications such as blind spot detection, forward collision warning system, parking assistance, adaptive cruise control and others.
- Increasing awareness about vehicle security will drive the market growth
- Rising sales of luxury vehicles will also propel growth of this market
- Technological advancement and development in sensors will also drive the market growth
- Increasing adoption of these sensors in military and defense sectors will also accelerate the market growth
- High price of the technology will restrain the market growth
- Less usage of these sensors in low priced car; is also restricting the growth of this market
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Key Developments in the Market:
- In January 2019, Nanotron Technologies GmbH and Selectronic announced the launch of their new collision avoidance solution PDS2400. This new solution has the ability to provide the collision awareness between fast vehicles, and vehicles & people. The main aim of the launch is to provide powerful and best collision avoidance system to the customers
- In November 2016, Aerotenna announced the launch of their two new products µSharp and OcPoC. µSharp is collision avoidance radar which is specially designed for the UAV and OcPoC is SoC Flight Controller for time sensor integration. The main aim of the launch is to provide UAV manufacturer with better safety and sensor flexibility at a cost- effective range
Global collision avoidance sensors market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of collision avoidance sensors market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global collision avoidance sensors market are Continental AG, Delphi Technologies, NXP Semiconductors, Infineon Technologies AG, Sixth Sensor Technology Pvt Ltd, InnoSenT – Innovative Radar Sensor Technology, DENSO CORPORATION, Mobileye, Symeo GmbH, Cross Company, Robert Bosch GmbH., Panasonic Corporation, ANAND Group, Texas Instruments Incorporated., Q-Track, Autoliv Inc, Becker Mining, Wabtec Corporation, Saab AB, Honeywell International Inc. and others.