The global collision avoidance sensors market size was valued at USD 4.39 billion in 2017 and is anticipated to exhibit a CAGR of 21.2% from 2018 to 2025 according to a report by Grand View Research.
Thanks to developments in the fields of camera, LiDAR, radar, and ultrasound technologies, the market has witnessed rapid growth over the past few years. Many luxury automobile manufacturers are expected to adopt these sensors on a large scale, implementing them as an indispensable component of a vehicle’s active safety systems package.
Increase in sales of sports utility vehicles (SUVs), utility vehicles, and high-end luxury vehicles is expected to be a major growth driver for the market.
Adoption and integration of collision avoidance sensors in passenger and commercial vehicles are expected to result in decrease in road accidents while providing increased protection to vehicle occupants. Stringent government policies and regulations relating to installation of vehicle safety features are also anticipated to be an important growth driver for the market.
Increased consumer awareness, high focus on research and development by automobile manufacturers, and updated safety ratings by regulatory bodies have also propelled the growth of the market. Demand for active sensors and systems is anticipated to slow down over the forecast period as a result of high procurement and integration costs for manufacturers. The cost of sensors and systems has a direct impact on vehicle pricing, thus making it expensive for consumers.
Technology Insights
Radars are the most preferred choice in case of detection systems that require accurate measurement of location and distance of obstacles. Compared to radar, vision and infrared cameras have a narrower and shorter field of view but are more helpful for identification and classification of the obstacle.
Ultrasound systems are inexpensive and are capable of short-distance obstacle detection. They are especially used in vehicle parking assistance solutions. LiDAR-based anti-collision sensors offer a wide-angle field view and are capable of generating detailed imagery. However, LiDAR sensors are very expensive and consume more vehicle space for installation. The camera and radar-based segments are expected to hold a significant market share over the coming years.
Application Insights
The collision avoidance sensors market is propelled by increasing sales of Advanced Driver Assistance Systems (ADAS), such as blind spot detection, forward collision warning, adaptive cruise control, lane departure warning, and parking assistance system.Vehicles with parking assistance systems use a combination of vision-based and ultrasound anti-collision sensors. For instance, Mercedes-Benz, BMW Audi, and Infiniti cars have parking assistance systems that consist of integrated surround-view cameras and ultrasonic sensors.
Prices for radar and camera systems have come down over the last few years, so lane departure warning and blind spot detection systems have gained prominence and are expected to capture a significant market share over the next few years. Over the forecast period, adaptive cruise control systems are expected to account for a major market share.
Collision Avoidance Sensors Market Share Insights
Key market players include Robert Bosch GmbH, Delphi Automotive, Continental AG, NXP Semiconductors, and Murata Manufacturing Co., Ltd.Development of 360-degree surveillance systems is expected to offer a significant growth opportunity for the market. In 2015, Delphi Automotive manufactured 360-degree vehicle surveillance systems.
Key market players are heavily investing in research and development projects and establishing production infrastructure to develop and offer differentiated and cost-effective vehicle safety solutions. Continental AG has a strong market presence owing to its strong R&D department and production facilities. The company mainly focuses on product innovation and effective distribution through a strong network of partners in multiple countries, such as U.S., Germany, India, and Brazil.