PORTLAND, OREGON, UNITED STATES, October 13, 2021 /EINPresswire.com/ — Surge in demand for automotive vehicles and defense industries and increase in automotive safety norms drive the growth of the global collision avoidance sensor market. Europe contributed to the highest share in terms of revenue in 2020, contributing to more than one-third of the total market share. The outbreak of the COVID-19 pandemic has affected the progress of the collision avoidance sensor market revenue.
According to the report published by Allied Market Research, the global collision avoidance sensor market generated $4.00 billion in 2020, and is projected to reach $12.25 billion by 2030, witnessing a CAGR of 11.9% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Asavari Patil, a Lead Analyst, Semiconductor and Electronics at Allied Market Research, stated, “The collision avoidance sensor market in Asia-Pacific is expected to grow at the highest rate during the forecast period, owing to high investment in the automotive sector. Moreover, economically developed nations tend to witness high penetration of collision avoidance sensor products in rail, automotive, and marine sector, which is projected to significantly contribute toward the growth of the market.”
• The outbreak of the Covid-19 pandemic created uncertainty in the stock market and resulted in falling business confidence, slowing of the supply chain, and increase in panic among the customer segments.
• The manufacturing industries got hampered by the outbreak of the Covid-19 disease, which has further affected the progress of the collision avoidance sensor market revenue.
• Covid-19 has impacted a large-scale manufacturing across Europe and interrupted export of Chinese parts.
The report offers detailed segmentation of the global collision avoidance sensor market based on application, technology, function type, industry and region.
Based on technology, the RADAR segment held the highest market share in 2020, accounting around one-fourth of the total market share, and is expected to continue its leadership status during the forecast period. However, the ultrasound segment is estimated to register the highest CAGR of 14.0% from 2021 to 2030.
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Based on function type, the warning segment held the highest market share in 2020, accounting for nearly two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 13.9% from 2021 to 2030.
Based on region, Europe contributed to the highest share in terms of revenue in 2020, contributing to more than one-third of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific region is projected to manifest the fastest CAGR of 13.8% during the forecast period.
Leading players of the global collision avoidance sensor market analyzed in the research include Denso Corporation, General Electric Company, Honeywell International Inc., Infineon Technologies AG, Murata Manufacturing Co., Ltd., NXP Semiconductors N.V., Robert Bosch GmbH, Saab AB, Siemens AG, and Texas Instruments Inc.
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Key Market Segments
By Function Type
• Adaptive Cruise Control (ACC)
• Blind Spot Detection (BSD)
• Forward Collision Warning System (FCWS)
• Lane Departure Warning System (LDWS)
• Parking Assistance
• Night Vision (NV)
• Autonomous Emergency Braking
o Passenger Cars
o Commercial Vehicle
• Aerospace & defense
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o Latin America
o Middle East
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.