Pune, India, June 23, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on "Collision Avoidance and Object Detection Maritime Market Size Report and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Application, End User, and Geography," the market is projected to reach $722.09 million by 2028 from $450.61 million in 2022; it is expected to grow at a CAGR of 8.2% during 2022–2028. China, South Korea, and UK are the prominent countries which are expected to register high growth rates, during the forecast period.
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Global Collision Avoidance and Object Detection Maritime Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | US$ 450.61 Million in 2022 |
| Market Size Value by | US$ 722.09 Million by 2028 |
| Growth rate | CAGR of 8.2 % from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 169 |
| No. of Tables | 88 |
| No. of Charts & Figures | 82 |
| Historical data available | Yes |
| Segments covered | Technology, Application, and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Benewake (Beijing) Co., Ltd.; Furono Electric Co., Ltd.; Garmin Ltd.; Orlaco Products BV; Raytheon Anschutz GmbH; Robopec SAS; Sea Machines Robotics, Inc.; Teledyne FLIR LLC; Terma A/S; and Velodyne Lidar, Inc. |
Browse key market insights spread across 169 pages with 88 list of tables & 82 list of figures from the report, "Collision Avoidance and Object Detection Maritime Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (LiDAR, Computer Vision, Radar, and Others), Application (Blind Spot Detection, Night Vision, and Others), and End User (Unmanned Surface Vehicle, Ships, and Autonomous Underwater Vehicle)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/collision-avoidance-and-object-detection-maritime-market
North America is a technologically advanced region, which includes key economies such as the US and Canada. The US dominates the collision avoidance and object detection maritime market in North America. Industrial and business activities in the US contribute significantly to the overall economy of North America. The widespread availability of financial aid and early acceptance of technologically advanced solutions and software support the rapid adoption of collision avoidance and object detection solutions in the region, which help the maritime industry to reduce sailing accidents caused by human errors by improving operational safety and navigation. These solutions are prominently used in unmanned surface vehicles (USVs) and autonomous underwater vehicles (AUVs). Key players in the maritime market are focused on developing new vessels equipped with collision avoidance and object detection technology. These factors collectively favor the collision avoidance and object detection maritime market growth in North America.
The collision avoidance and object detection maritime market is broadly segmented into 5 major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. Europe has emerged as one of the world's crucial international trade corridors by sea. Per the European Union (EU) statistics, in 2020, the EU port handled approximately 3.3 billion metric tons of freight. The availability of technologically well-equipped infrastructure to handle large cargo fleets significantly contributes to the adoption of collision avoidance and object detection systems in Europe. The rising adoption of ships for passenger transport and the presence of several key collision avoidance and object detection maritime market players are other major factors favoring the market growth in the region.
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Global Collision Avoidance and Object Detection Maritime Market Analysis: Industry Overview
Based on technology, the collision avoidance and object detection maritime market is segmented into LiDAR, computer vision, radar, and others. The radar segment accounted for the largest share of the collision avoidance and object detection maritime market in 2021. Further, the LiDAR segment is projected to register the highest CAGR during the forecast period. The integration of LiDAR technology plays a vital role in the ability of ships and other water vehicles to avoid collisions and obstacles. LiDARs can be installed near the pipes of the ships along the stern side where aerosol produced by the engines are accurately measured to detect pollution levels.
Based on application, the collision avoidance and object detection maritime market is segmented into blind spot detection, night vision, and others. The others segment accounted for the largest share of the collision avoidance and object detection maritime market in 2021. The blind spot detection segment is projected to register the highest CAGR during the forecast period. Blind spot detection ability improves operators’ vision, eliminates blind spots, and improves situational awareness over the distance upto 500 m.
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Global Collision Avoidance and Object Detection Maritime Market: Competitive Landscape and Key Developments
Benewake (Beijing) Co., Ltd.; Furono Electric Co., Ltd.; Garmin Ltd.; Orlaco Products BV; Raytheon Anschutz GmbH; Robopec SAS; Sea Machines Robotics, Inc.; Teledyne FLIR LLC; Terma A/S; and Velodyne Lidar, Inc. are among the key collision avoidance and object detection maritime market players profiled during this study. Several other important collision avoidance and object detection maritime market players were also studied and analyzed during the course of this market study to get a holistic view of the market and its ecosystem.
In September 2022, Benewake launched the LIDAR device named TF-LC02. It is offered for the cost of US$ 9.9 and is ideal for various applications due to small size, high performance and accuracy, and low error. The TF-LCO2 is a LiDAR distance module with a built-in time-to-digital converter (TDC) circuit and a high-precision ToF sensor. It can be used to make various electronic devices, including floor sweepers, robots, unmanned aerial vehicles, and smart home products.
In December 2020, NYK Group companies MTI Co., Ltd. and Japan Marine Science Inc. (JMS) conducted the demonstration of collision avoidance navigation using artificial intelligence (AI) in Osaka Bay as part of a research program to develop navigation support for domestic vessels by using AI as a core technology.
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