The Growing Market for Global Pedestrian Detection Systems
Pedestrian detection systems are intelligent systems that use various sensors and algorithms to detect and identify pedestrians in a vehicle’s path. These systems have become increasingly popular in the automotive industry due to the rising number of pedestrian fatalities and injuries caused by road accidents. The global pedestrian detection systems market is expected to witness significant growth in the coming years due to the growing demand for advanced safety features and increasing government regulations for vehicle safety.
Market Overview
The global pedestrian detection systems market was valued at USD 810 million in 2020 and is expected to reach USD 1.59 billion by 2026, growing at a CAGR of 10.5% during the forecast period of 2021-2026. The increasing number of road accidents and the rising demand for advanced driver assistance systems (ADAS) are the key factors driving the growth of this market. In addition, the growing trend of autonomous vehicles and the rising adoption of electric vehicles are also expected to fuel the market growth in the coming years.
The market is segmented based on type, technology, end-use industry, and geography. By type, the market is divided into active and passive pedestrian detection systems. The active pedestrian detection systems segment is expected to dominate the market as these systems provide real-time alerts to the driver and have a higher accuracy rate. By technology, the market is classified into camera-based, radar-based, and lidar-based systems. The camera-based systems segment is expected to hold the largest market share due to its low cost and high accuracy compared to other technologies. By end-use industry, the market is segmented into passenger cars, commercial vehicles, and autonomous vehicles. The passenger car segment is expected to dominate the market owing to the increasing focus of automakers on improving the safety features of their vehicles.
Regional Analysis
The global pedestrian detection systems market is analyzed across five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America dominates the market, followed by Europe and Asia Pacific. The presence of key players, stringent government regulations, and the rising number of pedestrian accidents are the major factors driving the market growth in these regions. Moreover, the growing demand for advanced driver assistance systems and the increasing production of electric vehicles are also contributing to the market growth in these regions.
Key Players
The global pedestrian detection systems market is highly competitive, with the presence of several major players. These players are focused on partnerships, collaborations, and new product launches to expand their market share. Some of the key players operating in this market include ZF Friedrichshafen AG, Delphi Automotive PLC, Continental AG, Bosch GmbH, Denso Corporation, Magna International Inc., Mobileye N.V., WABCO Holdings Inc., Valeo SA, and Autoliv Inc., among others.
Recent Developments
In January 2021, ZF Friedrichshafen AG and Mobileye N.V. signed an agreement to offer advanced camera technology to a major global OEM for a range of advanced driver assistance systems.
In September 2020, Bosch GmbH launched a new pedestrian detection system for commercial vehicles, which uses artificial intelligence (AI) and radar sensors to detect pedestrians and objects in the vehicle’s path.
In May 2020, Continental AG launched a new stereo camera system for the detection of pedestrians and cyclists, which can also detect objects in low light conditions.
In December 2019, WABCO Holdings Inc. collaborated with ZF Friedrichshafen AG to launch a pedestrian detection system that combines radar and camera technology for enhanced safety of pedestrians.
Conclusion
The global pedestrian detection systems market is expected to witness significant growth in the coming years due to the increasing number of road accidents and the rising demand for advanced driver assistance systems. The market is highly competitive, with key players focusing on partnerships, collaborations, and new product launches to expand their market presence. The growing trend of autonomous vehicles and the rising adoption of electric vehicles are also expected to boost the market growth. With the ever-increasing focus on vehicle safety, pedestrian detection systems are likely to become an essential feature in all vehicles, thus driving the growth of the market in the future.