Europe Pedestrian Detection Systems Market Size

Europe Pedestrian Detection Systems Market Analysis

The European pedestrian detection systems market was valued at USD 3.03 billion, and it is estimated to reach USD 9.32 billion over the period of five years, registering a CAGR of 16.71% during the forecast period.

• The COVID-19 pandemic harmed the market studied as lockdowns and trade restrictions led to supply chain disruptions and a halt of vehicle production across the world. However, as restrictions eased, players started focusing on mitigating such risks and developing strategies to create momentum in the market during the forecast period.
• Over the long term, growing safety concerns and government regulations regarding passenger and pedestrian safety, along with the increase in demand for premium vehicles, are some of the driving factors of the market. Over the years, there has been significant growth in the number of vehicles on the road and the construction of roads, resulting in a higher rate of road accidents. Pedestrians account for one-fifth of all traffic deaths in the European Union (EU). This proportion was larger than for other vulnerable road users, such as bicycles (9%), mopeds (3%), and motorcycles (16%).
• The pedestrian detection system is an important component of the driver assistance system, which is developed to avoid collisions between the vehicle and pedestrians, especially while driving during night time. The night-time pedestrian detection system works by letting the driver of the vehicle know about the obstacles on the road with the help of a near-infrared (NIR) camera and its displaying unit.
• The market is expanding as a result of customers becoming more aware of the advantages of having pedestrian protection systems installed in vehicles for the safety of drivers, passengers, and pedestrians, as well as the rising number of traffic accidents around the world. The expansion of pedestrian protection systems is being fueled by rising consumer demand for high-end vehicles as a result of shifting consumer preferences. Bicyclists and other road users also gain from systems with improved features, which explains why solutions based on pedestrian protection are widely used worldwide. Major players are also focusing on enhancing the pedestrian system. For instance,
• In April 2022, Vauxhall upgraded its best-selling Corsa and Mokka model lines for 2023, providing them with a fresh look, an appealing combination of new technology, and an improved Mokka powertrain choice. The Corsa design models received enhancements, including a redesigned Automatic Emergency Braking system that now includes Pedestrian Detection.
• In February 2022, Opel continued its electric onslaught with the introduction of the new Astra Sports Tourer. The vehicle came equipped with numerous cutting-edge assistance systems as standard equipment, such as front collision warning with automatic emergency braking, pedestrian detection, lane departure warning, traffic sign recognition, drowsiness detection, and cruise control with intelligent speed limiters.
• Additionally, it is anticipated that increased government initiatives and ongoing technological innovation would fuel market expansion. Additionally, during the projection period, market participants would benefit from technical developments in the automotive sector.