According to a new report, published by KBV research, The Global Collision Avoidance System Market size is expected to reach $160.86 billion by 2031, rising at a market growth of 11.0% CAGR during the forecast period.
Artificial intelligence (AI) and machine learning (ML) transform collision avoidance systems by improving real-time object detection, decision-making, and predictive analysis. AI-driven algorithms can process large volumes of sensor data and identify potential hazards faster and more accurately than traditional systems.
The Radar segment led the maximum revenue in the Global Collision Avoidance System Market by Technology in 2023, thereby, achieving a market value of $63.82 Billion by 2031. This dominance was driven by the widespread use of radar technology in advanced driver assistance systems (ADAS), particularly in adaptive cruise control (ACC), blind spot detection (BSD), and forward collision warning systems (FCWS).
The Adaptive Cruise Control (ACC) segment is growing at a CAGR of 9.9 % during the forecast period. This was primarily due to the increasing adoption of ADAS features in modern vehicles, stringent safety regulations, and growing consumer demand for enhanced driving comfort and fuel efficiency. ACC systems help maintain a safe distance from other vehicles by automatically adjusting speed, making them a key component in semi-autonomous and autonomous driving technologies.
Full Report: https://www.kbvresearch.com/collision-avoidance-system-market/
The Europe region the Global Collision Avoidance System Market by Region in 2023, thereby, achieving a market value of $54.02 Billion by 2031. The North America region is anticipated to grow at a CAGR of 10.8% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 11.6% during (2024 - 2031).
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