Market Size of United States Automotive Collision Avoidance Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.26 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Automotive Collision Avoidance Systems Market Analysis
The United States automotive collision avoidance systems market size is expected to grow from USD 14.22 billion in 2023 to USD 18.37 billion by 2028, at a CAGR of 5.26% during the forecast period (2023-2028).
- COVID-19 had a mild impact on the market. The automotive industry as a whole was severely impacted by the pandemic. However, the technology involved in developing the collision avoidance system could be built remotely, so it was not affected by the pandemic as much. The hardware setup and installation that needed to be performed on the cars, however, were hindered due to the stringent social distancing norms and lockdown restrictions all over the world.
- Post-pandemic, with an expected increase in demand and preference for individual mobility over public or common transport, vehicle sales were expected to increase. This was indirectly projected to increase the demand for collision avoidance systems and help in the growth of the industry.
- Many technology companies in the market are teaming up to solve the complexities of developing advanced driver-assistance systems (ADAS). For instance, in August 2020, Veoneer Inc. and Qualcomm Technologies Inc. announced that they were collaborating to deliver scalable advanced driver assistance systems (ADAS) and collaborative and autonomous driving (AD) solutions.
- Tesla is already offering all its cars with automatic emergency breaking (AEB) features as standard. Other automakers like Daimler, BMW, and Ford are expected to provide AEB in all their upcoming models. Tesla cars are equipped with all the necessary hardware to achieve full autonomy.
- In October 2020, the self-driving car company Waymo in Phoenix, Arizona, announced that its autonomous vehicles are available for taxi service. The service is only available in a limited area because of the relatively permissive Arizona and cars' requirement for a detailed three-dimensional map. The service was shut down due to the COVID-19 pandemic, but now the company aims to increase availability in the coming years.
