The global front collision warning market is projected to expand at a firm 14.5% CAGR during the forecast period between 2022 and 2032.
Front collision warning (FCW) system is an ADAS feature in-built in vehicles to warn drivers if they are approaching any collision in the form of an obstruction or car in its path. The demand for advanced driver assistance system (ADAS) is estimated to grow in tandem with surging passenger vehicles with advanced safety features globally.
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Forward collision warning systems use radar, LIDAR, camera and ultrasonic sensors to scan the road while driving and detect any obstruction coming the way. Forward collision warning system is also known as a collision avoidance or collision mitigation system. The front collision warning systems demand is driven by factors like increasing sales of luxury vehicles and increase in demand of autonomous vehicles in regions like North America, Europe and others.
As per FMI, the global front collision warning market is expected to be dominated by Europe. Front collision warning market in Europe is projected to top US$ 4,222.0 Mn by 2032.
“Front collision warning systems are intended to assist drivers in avoiding rear- end vehicle crashes. Increasing safety awareness among drivers and surging focus on road safety are expected to boost the demand for these systems in the forecast period,” says an FMI analyst.
Key Takeaways:
- The ultrasonic sensor segment is projected to hold approximately 3% of the total market share in 2022.
- The OEM segment is anticipated to grow at 14.5% CAGR through 2032.
- Europe will emerge as an attractive front collision warning market globally and is expected to create an incremental dollar opportunity of US$ 3,193.3 Mn in the forecast period.
- Passenger vehicle segment is expected to reach about US$ 7,823.3 Mn by end of the forecast period.
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Competitive Landscape
Key market participants in the front collision warning market elaborated in the report include Continental AG, Robert Bosch GmbH, Magna International, Delphi Automotive, ZF Friedrichshafen, Denso Corporation, Gentex Corporation, Honeywell International Inc., Wabtec Corporation and others.
The global front collision warning market is dominated by a few large players. Major players focus on providing a wide range of high- tech safety features designed to reduce crashes, reduce driver distraction and enhance comfort for vehicle drivers. The major players in the market also aim at improving vehicle safety by helping avoid accidents of vehicles. They are focusing on increasing the manufacturing capacity as well as focusing on advanced technology development for vehicles. For instance:
- In Feb 2020, Continental AG announced the opening of a new manufacturing plant in US. The purpose is expansion of production capacity of radar sensors for advanced driver assistance systems and expand the company’s market position as well.
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More Insights into the global front collision warning market Report
In its latest report, FMI offers an unbiased analysis of the global front collision warning market, providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on Technology (Ultrasonic Sensor, Lidar Sensor, Radar Sensor, Camera Sensor, Infrared Sensor, Pressure Sensor), By Sales Channel (OEM, Aftermarket), by vehicle type (Passenger Vehicles, LCV, HCV) & By Region ( North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).
About Future Market Insights – Automotive
The research report analyzes demand for automotive front collision warning systems. The global vehicle market has been analyzed upon Covid-19 impact, macroeconomic factors, market trends & market background. As per FMI’s research scope, the market has been analyzed on the basis of products, customers & regions. The report gives us qualitative and quantitative information on various players in this market. Also, this report tracks the market by both supply side and demand side.
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