NEWARK, Del, June 07, 2022 (GLOBE NEWSWIRE) — The Forward Collision Warning Market is expected to hit USD 11,282.8 Mllion by 2032, from USD 2,925.0 Mn in 2022, at a CAGR of 14.5% over the forecast period from 2022 to 2032.
Forward Collision Warning (FCW) systems are designed to alert drivers of an impending crash and help them avoid or mitigate collisions. FCW systems use sensors such as radar or cameras to detect objects in the vehicle’s path and warn the driver if a collision is imminent. Such systems are also known as pre-collision systems or frontal collision avoidance systems.
Forward collision warning systems are becoming increasingly popular in new vehicles due to their ability to improve road safety. Additionally, FCW systems can also help lower insurance premiums for motorists. The Front Collision Warning market report covers all the key parameters such as product innovation, market dynamics, opportunities and geographical prospects for Front Collision.
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According to IMF, the global forward collision warning market is expected to be dominated by Europe. The forward collision warning market in Europe is forecast to exceed US$4,222.0 Mn by 2032.
“Forward collision warning systems are intended to help drivers avoid rear-end vehicle crashes. Rising safety awareness among drivers and growing focus on road safety are expected to drive demand for these systems in the forecast period,” says an FMI analyst.
The ultrasonic sensor segment is forecast to hold approximately 35.3% of the total market share in 2022.
· The OEM segment is projected to grow at a CAGR of 14.5% through 2032.
· Europe will emerge as an attractive forward collision warning market globally and is expected to create an incremental dollar opportunity of US$3,193.3 Mn in the forecast period.
· The passenger vehicle segment is expected to reach around US$7,823.3 Mn at the end of the forecast period.
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Key market participants in the forward 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 forward collision warning market is dominated by a few major players. Major players are focused on providing a wide range of high-tech safety features designed to reduce crashes, reduce driver distraction and improve comfort for vehicle drivers. Major market players also aim to improve vehicle safety by helping to prevent vehicle accidents. They are focusing on increasing manufacturing capacity as well as developing advanced vehicle technology. For example:
· In February 2020, Continental AG announced the opening of a new manufacturing plant in the USA. The aim is to expand the production capacity of radar sensors for advanced driver assistance systems and also expand the market position of the business.
Forward Collision Warning Market by Category
- ultrasonic sensor
- lidar sensor
- radar sensor
- camera sensors
- infrared sensor
- pressure sensor
By sales channel:
By type of vehicle:
- North America
- Latin America
- east asian
- South Asia and the Pacific
- Middle East and Africa
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More information on the global front collision warning market report
In its latest report, FMI offers an unbiased analysis of the global forward collision warning market, providing historical data for the period 2017-2021 and forecast statistics for the period 2022-2032. To understand the global market potential, growth and scope, the market is segmented on the basis of technology (Ultrasonic Sensor, Lidar Sensor, Radar Sensor, Camera Sensor, Infrared Sensor, Pressure Sensor), by sales channel (OEM, aftermarket), by vehicle type (passenger vehicles, LCVs, HCVs), and by region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).
Table of Contents
1. Executive Summary
1.1. World Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key market trends
3.1. Key trends affecting the market
3.2. Innovation / Development Trends
4. Key success factors
4.1. Product Adoption/Usage Analysis
4.2. Innovation and product diversification
4.3. Marketing and brand management
4.4. Supply chain management
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