Collision Avoidance Sensors Market Analysis
Market Research Future (MRFR) presumes the global collision avoidance sensors market size to hit USD 15 billion at a CAGR of 22% from 2020 to 2027 (forecast period).
Collision Avoidance Sensors Market Key Players
The key players in the global collision avoidance sensors market are NXP Semiconductors (Netherlands), Delphi Automotive LLP (Ireland), Robert Bosch GmbH (Germany), DENSO CORPORATION (Japan), Continental AG (Germany), Infineon Technologies AG (Germany), Murata Manufacturing Co., Ltd. (Japan), Texas Instruments (US), Siemens AG (Germany), Rockwell Collins (US), and ALSTOM (France).
Other prominent players studied for the collision avoidance sensors market are General Electric (US), Honeywell International Inc. (US), Saab AB (Sweden), TRW Automotive (US), Becker Mining Systems AG (Germany), Panasonic Corporation (Japan), Sensata Technologies, Inc. (US), Takata Corporation (Japan), Wabtec Corporation (US), Autoliv Inc. (Sweden), among others.
Multiple Factors to Bolster Market Growth
The number of road accidents has been steadily increasing, resulting in fatalities, vehicle damage, and traffic jams. Although the use of autonomous vehicles is increasing in industrial applications such as moving goods or parts on preset paths, the risk of colliding with people or objects is significant. When such vehicles are outfitted with collision detection or avoidance sensors, they can come to a complete stop before an accident happens. To avoid accidents, major automakers have begun to incorporate collision avoidance sensors into their mass-market product offerings. Toyota Motor Corporation, for example, incorporates innovative technologies in their vehicles to avoid accidents, such as a pre-crash braking system, auto-parking, auto-adjust headlamps, and a vehicle communication system. Thus, one of the primary factors driving the growth of the collision avoidance sensors market is the increasing sale of utility vehicles, sports utility vehicles (SUVs), and high-end luxury vehicles
COVID-19 to have Temporary Impact on the Global Market
The spread of COVID-19 has had an impact on the market for collision avoidance sensors. The global spread of the pandemic has prompted lockdowns in a number of countries, disrupting supply chains and shutting down a number of manufacturing plants. The decrease in collision avoidance sensor production has had a significant influence on market growth.
To survive in the collision avoidance sensors market, industry participants all over the world are focusing on cutting operational costs. The post-lockdown resumption of manufacturing of collision avoidance sensors and related equipment is projected to fuel market expansion. Over the anticipated timeframe, government initiatives and relaxations in lockdowns are expected to raise demand for collision avoidance sensors. As a result of the increasing acceptance of such advanced products in automotive and marine applications to ensure vehicle safety, the demand for collision avoidance sensors and related products is predicted to rise.
Collision Avoidance Sensors Market Segmentation
The global collision avoidance sensors industry has been segmented on the basis of technology and application.
On the basis of technology, the global collision avoidance sensors market has been segmented into radar, camera, ultrasound, and LiDAR.
By application, the global collision avoidance sensors market has been segmented into adaptive cruise control (ACC), blind-spot detection (BSD), forward collision warning system (FCWS), lane departure warning system (LDWS), parking assistance, and others.
Collision Avoidance Sensors Market Regional Analysis
Europe to Dominate the Global Market
Due to the presence of a sizable automotive sector in Germany, Europe has the greatest market share in the worldwide collision avoidance sensors market. Furthermore, specific government rules exist in Europe for the installation of devices such as airborne collision avoidance systems (ACAS) in aircraft for seating capacity and tire pressure monitoring systems in automobiles.
Read More @
Haptic Technology Size to Surpass USD 21.469.6 Million by 2026 at 13.89% CAGR - Report by Market Research Future (MRFR)
GPS Tracking Device is Predicted to Increase at USD 3,396.20 Billion by 2026 at 11.96% CAGR - Report by Market Research Future (MRFR)
E-House Size to Reach USD 1.74 Billion by 2026 at 5.67% CAGR - Report by Market Research Future (MRFR)
Personal Emergency Response Systems (PERS) to Reach USD 5,540.2 Million by 2025 at a 7.4% CAGR - Report by Market Research Future (MRFR)
Contact us:
Market Research Future®,
99 Hudson Street,
5Th Floor,
New York, New York 10013,
United States of America
Phone: +1 628 258 0071(US),+44 2035 002 764(UK)
Email: [email protected]
Market Analysis
Home Automation System Market Size was valued at USD 65200 million in 2021. The Home Automation System market industry is projected to grow from USD 72437.2 Billion in 2022 to USD 151342.20 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.72% during the forecast period (2022 - 2030).
Key Players
Eminent players profiled in the home automation system market report include Honeywell International Inc. (U.S.), Acuity Brands, Inc. (U.S.), Johnson Controls Inc. (U.S.), United Technologies Corporation (U.S.), Crestron Electronics, Inc. (U.S.), Legrand (France), Schneider Electric Se (France), ABB Ltd. (Switzerland), Samsung Electronics Co., Ltd. (South Korea), Siemens Ag (Germany), among others.
Drivers
Rise in Electricity Prices to Boost Market Growth
The growth in electricity prices across the globe has increased the operating budget for house owners. The hospitality industries and residential buildings are major end users of the home automation market. The rising prices of commodities like coal significantly improve the cost for generating electricity and in turn boost the end user electricity cost. The use of home automation helps end users to regulate their use, thus decreasing their electricity expenditure. It is the home automation control that offers economical use of electricity and further reduces the consumption of energy in HVAC systems, security, and energy consumption in lighting. This will boost market growth.
North America to Lead Home Automation System Market
North America will lead home automation system industry over the forecast period. The presence of major industry players such as United Technologies Corporation (U.S.), Honeywell International Inc. (U.S.), Johnson Controls Inc. (U.S.), Crestron Electronics, Inc. (U.S.), Acuity Brands, Inc. (U.S.) and others coupled with the increasing demand for domestic energy management systems are adding to the market growth in the region.
Opportunities
Demand for Energy Efficiency to offer Robust Opportunities
The increasing demand for energy efficiency in smart homes and buildings will offer robust opportunities for the market in the forecast period.
Challenges
Security Concerns to act as Market Challenge
The growing security concerns with home automation devices may act as a market challenge over the forecast period.
Restraints
Lack of Awareness to act as Market Restraint
The lack of awareness about home automation coupled with lack of pre-installed home automation systems and provision in pre-built homes may act as market restraint over the forecast period.
COVID-19 Analysis
The home automation system market too was adversely affected by the COVID-19 pandemic. The majority of the home automation system manufacturers have been impacted by this crisis that is predicted to be a medium-term impact. The crisis will have a varying impact on various types of home automation systems. Industry players have witnessed a reduction in home automation installations. Because the programming and installation of home automation systems need professional on-site workers, the buyers are hesitant in installing such systems in minimizing outside contact during this time. Thus some players have recorded a fall in sales while DIY home automation companies have been impacted to a lesser extent.
Market Segmentation
The home automation system market has been bifurcated based on product, protocol and technology, and software algorithm.
- By product, the entertainment control system will lead the market over the forecast period.
- By software and algorithm, the proactive segment will dominate the market over the forecast period.
- By protocol and technology, the home automation system market is segmented into wireless and network. By network technology, this market has beeb segmented into LTE network, GSM/HSPA, and CDMA. By protocol, the market is segmented into BACnet, LONWORKS, Ethernet, digital addressable lighting interface, and others. By wireless technology, this market has been segmented into Bluetooth, Wi-Fi, Z-wave, Zigbee, and IR.
Read More @
IoT in Consumer Electronics Market-
Contact us:
Market Research Future®,
99 Hudson Street,
5Th Floor,
New York, New York 10013,
United States of America
Phone: +1 628 258 0071(US),+44 2035 002 764(UK)
Email: [email protected]
