Pre-Collision Technology Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Pre-Collision Technology Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 21, 2024 /EINPresswire.com/ -- The global pre-collision technology market is on a rapid growth trajectory, driven by the increasing demand for advanced driver-assistance systems (ADAS) and autonomous vehicles. Pre-collision technology, also known as collision avoidance technology, is a critical component of ADAS, utilizing a sophisticated system of sensors, cameras, radar, and software to detect potential collisions and take preventive action.

Market Size and Growth
The pre-collision technology market is set to grow from $51.04 billion in 2023 to $56.56 billion in 2024, at a compound annual growth rate (CAGR) of 10.8%. This growth is attributed to the adoption of forward collision warning, automatic emergency braking, lane departure warning, blind spot detection, and collision avoidance systems. In the forecast period, the market is expected to expand further, reaching $80.52 billion by 2028, with a CAGR of 9.2%. Factors such as advanced driver-assistance systems, connected vehicle technology, and the rise of autonomous vehicles are driving this growth.

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Rising Demand for Autonomous Vehicles
The increasing demand for autonomous vehicles is a significant driver of the pre-collision technology market. Autonomous vehicles, or self-driving automobiles, rely on pre-collision technology to sense their surroundings and operate without human intervention. The Insurance Institute for Highway Safety estimates that by 2025, around 3.5 million self-driving vehicles will be on US roads, and by 2030, this number will reach 4.5 million. With an estimated 75% of cars worldwide expected to be autonomous by 2040, the demand for pre-collision technology is expected to surge.

Key Players and Market Trends
Major companies operating in the pre-collision technology market, such as Toyota Motor Corporation, Robert Bosch GmbH, and Siemens AG, are focusing on technologically advanced products, including collision avoidance systems, to enhance their market position. For instance, Wabtec Corporation recently launched the Generation 3 Collision Avoidance System (CAS), featuring a new user interface and context-based voice alerts to improve safety and productivity.

Segments
The pre-collision technology market covered in this report is segmented –
1) By Product: Parking Assistance, Lane Departure Warning System (LDWS), Autonomous Emergency Braking (AEB), Adaptive Cruise Control (ACC), Other Products
2) By Technology: Camera, Ultrasonic, Radio Detection And Ranging (RADAR), Light Detection And Ranging (LiDAR), Other Technologies
3) By Application: Automotive, Aviation, Railway, Mining, Marine, Other Applications

Regional Insights
North America led the pre-collision technology market in 2023, with Asia-Pacific expected to be the fastest-growing region in the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Pre-Collision Technology Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• 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.

Trends, opportunities, strategies and so much more.
The Pre-Collision Technology Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on pre-collision technology market size, pre-collision technology market drivers and trends, pre-collision technology market major players, competitors' revenues, market positioning, and market growth across geographies. The pre-collision technology market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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