The Latin America, Middle East and Africa Collision Avoidance Sensor Market would witness market growth of 14.9% CAGR during the forecast period (2021-2027).
The collision avoidance sensor market would witness lucrative growth opportunities because of the technological advancements in the domains of the camera, radar, LiDAR, and ultrasound technologies. Most of the high-end automobile makers are likely to install these sensors significantly as a crucial part of the active safety systems package of a vehicle.
Increasing sales of utility vehicles, high-end luxury vehicles, and sports utility vehicles (SUVs) are acting as a catalyst for the demand & growth of collision avoidance sensors in the market. Some key automobile makers have begun to incorporate basic collision avoidance sensors in their product lines.
The untapped growth potential of this region is motivating many global players to enter and invest heavily in the regional market. These players are willing to put hefty investments in R&D activities and creating production units to develop and provide cost-efficient vehicle safety solutions. The increasing demand for luxury cars in the countries like UAE is expected to create profitable growth opportunities for the global collision avoidance sensors market during the forecast period.
Moreover, some of the major factors that fuel the growth of the market are strict government regulations and guidelines about the integration of vehicle safety features. Therefore, these factors are likely to drive the growth of the regional collision avoidance sensor market during the forecasting period.
The Brazil market dominated the LAMEA Camera Collision Avoidance Sensor Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $77.7 Million by 2027. The Argentina market would witness a CAGR of 15.1% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 14.3% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Collision Avoidance Sensor Market is Predict to reach $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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