Semiconductor

  Market Analysis Market Research Future (MRFR) presumes the global collision avoidance sensors market size to hit USD 15 billion at a CAGR of 22% from 2020 to 2027 (forecast period). Multiple Factors to Bolster Market Growth The number of road accidents has been steadily increasing, resulting in fatalities, vehicle damage, and traffic jams. Although the use of autonomous vehicles is increasing in industrial applications such as moving goods or parts on preset paths, the risk of colliding with people or objects is significant. When such vehicles are outfitted with collision detection or avoidance sensors, they can come to a complete stop before an accident happens. To avoid accidents, major automakers have begun to incorporate collision avoidance sensors into their mass-market product offerings. Toyota Motor Corporation, for example, incorporates innovative technologies in their vehicles to avoid accidents, such as a pre-crash braking system, auto-parking, auto-adjust headlamps, an...