Growing demand of Advanced Driver Assistance Systems (ADAS) in vehicles for ensuring the safety of the driver is expected to drive the anti-collision sensor market growth. It includes several systems such as adaptive cruise control, adaptive light control, automatic braking, automatic parking, blind spot detection, collision avoidance, driver drowsiness detection, GPS navigation, hill descent control, intelligent speed adaptation, night vision and tire pressure monitoring. Increasing requirement of ADAS among the customers is increasing rapidly, which is growing the industry share of anti-collision sensor market. For instance, NVIDIA DRIVE PX AI by NVIDIA Corporation is a self-driving car solution, which provides driver assistance in several functions such as lane change assistance, blind spot monitoring and forward collision warnings.
Increasing demand of automatic parking functions in the vehicles is growing the demand of these components in anti-collision sensor market. With the rise in traffic, it is becoming difficult to park cars in tiny spaces. These sensors provide the driver assistance and information about the parking space and guides them to park the vehicles effectively. Automatic parking system consists of these sensors to provide the details about the space left to park the vehicle. The integration of these components in parking system is driving the anti-collision sensor market growth. Several automobile players which are integrating these components in their cars include Mercedes Benz, which introduces Mercedes Benz E Class in February 2017 consists of E-Class parking pilot.
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Growth in sales of sports and luxury vehicles is predicted to drive the anti-collision sensor market growth. The incorporation of the sensors in these vehicles provides assistance at the time of accidents. The luxury vehicles are provided with several ADAS to provide the customers value for their purchase. Several luxury cars provided by the major players of automobile sector includes Audi A3, Genesis G80, Lexus ES 350 and Volvo S90 among others. These manufacturers are adopting technologies which will ensure safety of the driver and passengers, thereby driving the anti-collision sensor market growth.
High costs associated with the sensors are limiting the adoption of these components restricting the growth of anti-collision sensor market. These systems are integrated in luxury vehicles and is affordable by the upper-class people. The middle and lower-class range of people finds it difficult to afford these luxurious vehicles. To combat this problem, several industry players are offering cars with the systems to cater these segments of market in an affordable price range such as Prius by Toyota launched in 2012, Honda Crosstour in 2013 and Chevrolet Malibu in 2013 among others. These offerings of the major players are increasing the demand of safety systems in anti-collision sensor market.
Camera based system is expected to grow substantially over the forecast timespan in anti-collision sensor market with the rise in adoption of these systems in automobiles. The camera provides the rear view of the vehicle and assistance to the driver in several functions such as pre-crash braking assistance, pre-crash warnings and autonomous braking. It becomes difficult to get the rear view in larger vehicles such as SUVs, which is growing the demand of these systems to be integrated in the cars. For instance, Jaguar F-PACE consists of rear camera that provides several features such as park assist, 360-degree parking aid and rear traffic monitor. Several advantages offered by camera-based systems include reduced risks at the time of multiple distractions, safer highway driving and night driving assistance. Rise in demand of these features among the customers is driving the anti-collision sensor market growth.
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Europe is expected to witness high growth in anti-collision sensor market among other regions owing to the growth of automobile industry. The region witnesses high demand of automobile products and consists of several major players of the industry such as Daimler AG, Volkswagen, BMW, Audi and Opel. These players are manufacturing luxurious cars which are integrated with several ADAS technologies, which is driving the anti-collision sensor market growth. Major countries of the region such as Germany and France are the technological providers of automobile industry and provides new innovations in their offerings.
Key players operating in anti-collision sensor market is Delphi Automotive, ZF Friedrichshafen, Bosch, Continental AG, TRW Automotive, Wadeco, Yaskawa, Robert Bosch GmbH, and Denso Corporation among others. These players are competing based on the customers requirement and targeting their offerings in automobile sector. The strategies adopted by the players include product differentiation and penetration. The competitors are developing strategies to combat the restraints in the anti-collision sensor market and target the opportunities in the industry. The demand of these sensors in aerospace industry is also providing an opportunity for the players to develop technologies which can be integrated in space ships.
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