Market Size of Global Pedestrian Detection Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 15.50 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Pedestrian Detection Systems Market Analysis
The pedestrian detection system market was valued at USD 6,071.18 Million in 2021 and is projected to grow to 14,413.36 Million by 2027, registering a CAGR of 15.5% in terms of revenue during the forecast period.
The COVID-19 pandemic had a massive impact on the market studied as lockdowns and trade restrictions have 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 developments to create momentum in the market during the forecast period.
Over the medium term, Growing production of vehicles with integrated ADAS features in the wake of rising awareness toward comfort and safety of passengers and government regulations mandating safety features are expected to drive demand in the market.
The pedestrian detection system is an essential component of the driver assistance system, which is developed to avoid collisions between vehicles and pedestrians, especially while driving at night-time. The night-time pedestrian detection systems work 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.
Some of the major factors driving the growth of the market studied are the growing emphasis on the safety of passengers and pedestrians, owing to a rise in the number of accidents and the increasing demand for premium vehicles. However, factors, such as difficulty in detecting pedestrians during bad weather conditions, may hinder the growth of the market studied.
In recent years, the automobile industry has motivated its R&D work to improve night vision systems. This has led to further improvements in advanced driving assistance systems, with the surge in demand for night-time pedestrian detection systems. Low penetration of leading providers of advanced driving assistance systems (ADASs) in the emerging markets and the rise in the number of autonomous cars are reasons for the opportunities present in the market studied.
