Market Size of Automotive Collision Avoidance Systems Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 64.96 Billion |
| Market Size (2029) | USD 115.87 Billion |
| CAGR (2024 - 2029) | 12.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Collision Avoidance Systems Market Analysis
The Automotive Collision Avoidance Systems Market size is estimated at USD 64.96 billion in 2024, and is expected to reach USD 115.87 billion by 2029, growing at a CAGR of 12.20% during the forecast period (2024-2029).
Automotive collision avoidance systems prevent imminent crashes by receiving environmental inputs and adapting accordingly. It takes control and performs complicated functions for drivers in complex situations. It also uses sensors and cameras to collect data and process it through controller units. These units send signals to drivers to alert them about concerns that increase the risk of collision and injury, both regarding their driving and other’s driving.
Various initiatives by governments of different countries to improve the safety systems onboard a car are considered significant growth factors. For instance, the National Transportation Safety Board (NTSB) of the United States released a list of the 10 most wanted transportation safety improvements. This list suggests incorporating technologies that can be used to equip vehicles for passenger safety.
Growing demand for autonomous vehicles drives the demand for automobile collision avoidance systems. However, market growth is hindered by a high installation cost. On the other hand, rising concerns about automotive safety norms and increased electronic integration in vehicles are anticipated to generate further opportunities for expansion in the collision avoidance systems market.
