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LONDON, GREATER LONDON, UNITED KINGDOM, October 8, 2024 /EINPresswire.com/ -- The forward collision warning system for automotive market has experienced robust growth in recent years, expanding from $30.73 billion in 2023 to $34.45 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to increasing awareness of road safety, consumer demand for safety features, rising number of road accidents, government initiatives for road safety, increased vehicle production, integration with advanced driver assistance systems.
What Is The Estimated Market Size Of The Global Forward Collision Warning System For Automotive Market And Its Annual Growth Rate?
The forward collision warning system for automotive market is projected to continue its strong growth, reaching $53.55 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to continued emphasis on vehicle safety ratings, global expansion of adas market, regulatory mandates, insurance industry collaboration, urbanization and traffic congestion, development of customizable warning alerts. Major trends in the forecast period include integration with advanced driver assistance systems (adas), collision mitigation and autonomous emergency braking (aeb), pedestrian detection and cyclist detection, multi-sensor fusion technology, improved false alarm reduction, adoption of v2x communication.
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Growth Driver Of The Forward Collision Warning System For Automotive Market
The rising incidences of road accidents are driving the growth of forward collision warning systems for the automotive market. Road accident causes injury or death due to crashes originating from vehicles. Road accidents can be avoided with the implementation of collision warning systems in vehicles. It analyzes the speed of the car and gives warning lights and images if a collision is detected.
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Who Are The Leading Competitors In The Forward Collision Warning System For Automotive Market Share?
Key players in the forward collision warning system for automotive market include Velodyne LiDAR Inc., Gentex Corporation, ZF Friedrichshafen AG, Continental AG, Denso Corporation, BorgWarner Inc., Mobileye Global Inc., Delphi Automotive LLP, Honeywell International Inc., Robert Bosch GmbH, Wabtec Corporation, Alstom SA, Becker Mining Systems AG, Siemens AG, General Electric Company, Saab AB, Autoliv Inc., Infineon Technologies AG, Panasonic Corporation, Bendix Commercial Vehicle Systems LLC, Toyota Motor Corporation, WABCO Vehicle Control Services, Fujitsu Laboratories Ltd., RTX Corporation, Valeo Group, Aptiv PLC, Hitachi Astemo Ltd., NXP Semiconductors, STMicroelectronics N.V., Tadano Limited.
What Are The Dominant Trends In Forward Collision Warning System For Automotive Market Growth?
Technological advancements are a key trend gaining popularity in collision warning systems for the automotive market. Many companies operating in collision warning systems for the automotive industry are developing new products or new technologies to gain a competitive advantage in the market.
How Is The Global Forward Collision Warning System For Automotive Market Segmented?
1) By Type: Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Lane Departure Warning System (LDWS), Parking assistance, Other Types
2) By Technology: LIDAR, Radar, Camera, Ultrasonic, Other Technologies
3) By Sales Channel: OEM, Aftermarket
4) By Application: Aerospace & Defense, Marine, Rail, Automotive
Geographical Insights: North America Leading The Forward Collision Warning System For Automotive Market
North America was the largest region in the forward collision warning system for the automotive market in 2023. The regions covered in the forward collision warning system for automotive market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Forward Collision Warning System For Automotive Market Definition
The Forward Collision Warning System for the automotive industry refers to a proactive safety device that alerts the driver in advance of a frontal accident. A probable collision with a vehicle ahead is detected by the collision warning system, which informs the driver. It supports drivers in critical situations such as congested traffic or poor visibility conditions by giving visual and audio warnings. When a potential collision is detected, the collision warning system issues a warning to the driver, and if the driver does not respond quickly enough, the collision warning system can initiate automated braking.
Forward Collision Warning System For Automotive Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global forward collision warning system for automotive market report covering trends, opportunities, strategies, and more
The Forward Collision Warning System For Automotive Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on forward collision warning system for automotive market size, forward collision warning system for automotive market drivers and trends, forward collision warning system for automotive market major players, forward collision warning system for automotive competitors' revenues, forward collision warning system for automotive market positioning, and forward collision warning system for automotive market growth across geographies. The forward collision warning system for automotive market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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