Collision Avoidance Sensor Market Is Set To Achieve A Of US$ 12 Billion By 2027, Driven By A Robust CAGR Of 13%

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Collision Avoidance Sensor Market

Demand for developing high-resolution millimeter wave radar systems has increased significantly among automobile manufacturers has driven the market.

WILMINGTON, DELAWARE , UNITED STATES, September 21, 2023 /EINPresswire/ -- Transparency Market Research published a report on“Collision Avoidance Sensor Market” by Technology, Function Type, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2027," the global collision avoidance sensor industry is projected to reach $12 billion by 2027, registering a CAGR of 13%.

Software algorithms and the SLAM (Simultaneous Localization And Mapping) technology are some of the key drivers powering the collision avoidance sensor market. Companies are increasing their R&D activities to develop sensors with overlapping visual sensing in order to facilitate full obstacle detection. Novel collision avoidance sensors are being integrated with omnidirectional vision. Manufacturers are increasing their production capabilities to develop drones that track people and subjects.

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Decisive Collision Avoidance Sensor Market Dynamics:

The analysis delves deeply into industry revenue, the state of the Collision Avoidance Sensor Market demand, the state of the market's competition, and the CAGR situation worldwide. For businesses looking to set their future direction and develop strong strategies, the study is a vital resource. Companies can use the study to better understand the sector as a whole, determine client demands and preferences, and obtain a full understanding of the market.

Increased Sales of Automobiles with Collision Avoidance Sensors and Safety Systems: A Key Driver

.Technological advancements, growing concerns about safety, and rising purchasing power of buyers for premium cars as well as autonomous cars are increasing the sale of high-end and medium-range vehicles worldwide
.This advanced class of vehicles consisting of anti-collision sensors with different technologies such as radar, LiDAR, and ultrasound comprises advanced driver assistant systems such as brake assists, forward-collision warning, lane-departure warning, automatic emergency braking, pedestrian detection, adaptive cruise control, blind-spot detection, automatic high beams, and backup cameras
.The European Union has already mandated the use of autonomous emergency braking systems, lane-departure warning systems, electronic stability controls, and automatic brake systems in its vehicles
.Thus, owing to increasing demand for autonomous vehicles, automobile manufacturers across the world are significantly investing in R&D activities and introducing innovative features in functions such as monitoring, warning, steering, and braking for differentiation of product from its competitors.

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Collision Avoidance Sensor Market: Key Developments

Key providers of collision avoidance sensors, such as Robert Bosch GmbH, Infineon Technologies AG, and Magna International Inc., are focusing on the construction of cost-effective collision avoidance sensors so as to attract more number of customers. Some other key developments in the global collision avoidance sensor market are:

.In 2018, Robert Bosch GmbH published a research report on how 'Advanced Rider Assistance Systems' can prevent road accidents by using radar-based assistance systems, which consist of adaptive cruise control (ACC), forward collision warning system, blind-spot detection, and other sensors
.In November 2014, Magna International Inc. launched the EYERIS Gen 2.5 vision system, with newly introduced features such as lane keeping assistance, glare-free high beam, and collision mitigation as well as increased memory and processing power

In the report on the global collision avoidance sensor market, we have discussed individual strategies, followed by company profiles of providers of collision avoidance sensor systems. The 'Competition Landscape' section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global collision avoidance sensor market.

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Key Ventures operating in the market are -

.Robert Bosch GmbH
.Denso Corporation
.Rockwell Collins
.General Electric Company
.Continental AG
.Honeywell International Inc.
.Infineon Technologies AG.
.Magna International Inc.
.Microchip Technology Inc.
.NXP Semiconductor

Collision Avoidance Sensor Market – Segmentation

By Technology

.Radar
.LiDAR
.Ultrasound
.Others

By Application

.Object Detection
.Blind Spot Detection
.Lane Departure Warning System
.Adaptive Cruise Control
.Parking Assistance
.Others

By End-use Industry

.Automotive (Including Passenger Vehicles and Commercial Vehicles)
.Aerospace & Defense
.Marine
.Warehousing & Logistics
.Others

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Transparency Market Research Inc.
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