The North America Collision Avoidance Sensor Market would witness market growth of 11.2% CAGR during the forecast period (2021-2027).
Deployment and inclusion of collision avoidance sensors in passengers, as well as commercial vehicles, are likely to lead to a decline in road accidents while offering better protection to vehicle occupants. Moreover, some of the major factors that fuel the growth of the global market are strict government regulations and guidelines about the integration of vehicle safety features.
The growth of the collision avoidance sensor market would witness new growth avenues due to the higher consumer awareness, updated safety ratings by the concerned authorities, and increased focus on R&D activities by the automobile markets. For example, in January 2015, the U.S. National Highway Traffic Safety Administration (NHTSA) introduced the inclusion of automatic emergency braking systems into its New Car Assessment Program (NCAP) with an aim to avoid and/or decrease the intensity of crashes.
North America is a well-established market for integrating collision avoidance systems in vehicles. In addition, the region is home to some of the leading market players that can bolster its position in the global market. The deployment of advanced safety systems has been made necessary by government norms in this region.
The region has remained at the forefront of adopting the latest & advanced technologies. Moreover, the region is likely to acquire a significant revenue share of the global market. The growth of the regional collision avoidance sensor market is fueled by the increasing up-gradations in sensor technologies and the high adoption of these sensors in the industries like mining, railways, and construction. The vehicle integrated with these safety sensors comes at a high cost. In the last few years, the consumers of the region have witnessed a spur in their disposable income due to which their purchasing power of non-essential goods has increased dramatically. Therefore, this section of the population can easily afford these vehicles, thereby creating new growth avenues for the players operating in the regional collision avoidance sensors market.
The US market dominated the North America Blind Spot Detection (BSD) Collision Avoidance Sensor Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $210.3 Million by 2027. The Canada market is experiencing a CAGR of 14.4% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 13.4% during (2021 - 2027).
Based on Sensor Type, the market is segmented into Radar, Camera, Ultrasound, Lidar and Others. Based on Application, the market is segmented into Adaptive Cruise Control (ACC), Forward Collision Warning System (FCWS), Blind Spot Detection (BSD), Lane Departure Warning System (LDWS), Parking Assistance, Autonomous Emergency Braking and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Collision Avoidance Sensor Market is Estimated to Reach USD 8.8 Billion by 2027 at a CAGR of 11.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Continental AG, NXP Semiconductors N.V., Infineon Technologies AG, Panasonic Corporation, Robert Bosch GmbH, Denso Corporation, Honeywell International, Inc., Texas Instruments, Inc., Sensata Technologies Holdings PLC, and Murata Manufacturing Co., Ltd.
By Sensor Type
By Application
By Country
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