Dublin, April 29, 2024 (GLOBE NEWSWIRE) -- The "Pre-Collision Technology Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global pre-collision technology market is poised for significant growth, expected to increase from $51.04 billion in 2023 to $56.56 billion in 2024, marking a sturdy 10.8% compound annual growth rate (CAGR). This robust expansion is driven by the increasing integration of advanced safety systems in automobiles, including forward collision warnings, automatic emergency braking, and other collision avoidance technologies. The continued enhancement of these systems and their adoption in the automotive safety arena contribute to a safer driving environment and a steady incline in market size.
Emerging trends in the automotive industry, such as advanced driver-assistance systems, connected vehicle technologies, and autonomous vehicles, are integral to the prospective growth of the pre-collision technology market. By 2028, the market is forecasted to grow to an impressive $80.52 billion with a CAGR of 9.2%.
Advancements such as sensor fusion, AI-powered collision prediction, and continuous improvements through software updates are expected to be major contributors to the market momentum. Companies across the globe are accelerating their innovation efforts to meet the growing demands for these systems amidst an advancing technological landscape.
Developments Shaping Industry Dynamics
Significant developments within the pre-collision technology sphere showcase the industry’s dedication to advancing vehicle safety. For example, cutting-edge collision avoidance systems such as the Generation 3 Collision Avoidance System by Wabtec Corporation represent the pioneering spirit of market leaders, setting new standards for operator response and safety. Additionally, strategic acquisitions, like Epiroc AB’s acquisition of Mernok Elektronik Pty Ltd., reinforce the commitment to innovation and leadership in global markets, such as mining safety and automation.
Regional Market Insights
In 2023, North America emerged as the most significant market for pre-collision technology. However, the Asia-Pacific region is identified as the fastest-growing market during the forecasted period. This signals a shift in the global market landscape, wherein all regions are progressively embracing advanced vehicle safety technologies. The diversified applications across industries like automotive, aviation, and mining underpin the broad scope and potential of pre-collision technology across varied market sectors worldwide.
About the Pre-Collision Technology Market
Pre-collision technology, encompassing collision avoidance systems, is an integral part of the evolving landscape of advanced driver-assistance systems (ADAS). It integrates a range of sensors, cameras, radar, and innovative software to preemptively tackle the threat of vehicular collisions. As an essential safety feature in current and future mobility solutions, pre-collision technology is not only pivotal in saving lives but is also crucial in the transition towards more autonomous driving experiences. With comprehensive market coverage, the industry diligently addresses the growing demand for safety and efficiency on the roads.
This market insight sheds light on the significant rise in the value and impact of pre-collision technology on the global stage. The ongoing developments and anticipated growth signify a remarkable evolution of vehicular safety measures that stand to redefine transportation standards for decades to come.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $56.56 Billion |
| Forecasted Market Value (USD) by 2028 | $80.52 Billion |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
- Toyota Motor Corporation
- Robert Bosch GmbH
- Siemens AG
- General Electric Company
- Hitachi Automotive Systems
- Panasonic Corporation
- Denso Corporation
- Qualcomm Technologies Inc.
- ZF Friedrichshafen AG
- Continental AG
- Hyundai Mobis
- Magna International Inc.
- Mitsubishi Electric Corporation
- Honeywell International Inc.
- Valeo SA
- Texas Instruments Incorporated
- Collins Aerospace
- Aptiv PLC
- Alstom SA
- Infineon Technologies AG
- NXP Semiconductors
- Renesas Electronics Corporation
- Autoliv Inc.
- Wabtec Corporation
- Garmin Ltd.
- Pioneer Corporation
- Mobileye
- Delphi Automotive PLC
For more information about this report visit https://www.researchandmarkets.com/r/g1aj5o
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