Bumper Sensor Market
Bumper Sensor Market Forecasts to 2030 - Global Analysis By Vehicle Type (Commercial Vehicles, Passenger Cars, Off-Road Vehicles and Other Vehicle Types), Component, Technology, Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
CAGR (2023 - 2030) |
9.0% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Bumper Sensor Market is growing at a CAGR of 9.0% during the forecast period. A bumper sensor is a device integrated into a vehicle's bumper designed to detect obstacles or objects in close proximity during parking or maneuvering. It typically utilizes ultrasonic or electromagnetic technology to gauge distance and provide feedback to the driver through audible alerts or visual indicators on the dashboard. Bumper sensors enhance safety by helping drivers avoid collisions with objects, pedestrians, or other vehicles. They contribute to easier parking and reduce the risk of damage to the vehicle, making them a valuable addition to modern automotive safety systems.
Market Dynamics:
Driver:
Integration with advanced driver-assistance systems (ADAS)
Advanced driver-assistance systems are a collection of technologies that utilize sensors to improve vehicle safety and driver assistance. Bumper sensors play a vital role in ADAS by providing data on surrounding obstacles, which is then used to enable functions like automatic emergency braking, lane departure warning, and blind spot monitoring. The increasing demand for ADAS features in modern cars is a major driver for the bumper sensor market.
Restraint:
Limited detection range
The primary function of bumper sensors is to warn drivers of obstacles. Limited detection range undermines this purpose. If obstacles aren't detected early enough, the system's ability to prevent collisions or parking mishaps is compromised. This can lead to a decrease in driver confidence and a negative perception of the technology thus hampering the growth of the market.
Opportunity:
Rising focus on driver convenience and comfort
As drivers seek features that make their experience more relaxing, parking sensors become increasingly desirable. These sensors eliminate the stress and guesswork associated with parking, especially in tight spaces or low-visibility conditions. This growing demand translates to a larger market for parking sensors. Manufacturers are developing parking sensor systems with more functionalities to cater to the comfort demands includes features like multi-sensor systems, graphical displays and integration with other systems propel the market growth.
Threat:
System design and failure probability
Malfunctions or false positives can significantly erode driver trust in bumper sensor systems. Imagine a situation where a car brakes suddenly due to a faulty sensor reading, or if the system constantly triggers warnings with no obstacles present. This can lead to drivers disengaging the system altogether, defeating its purpose of enhancing safety and convenience. For car manufacturers, a reputation for unreliable bumper sensor systems can be damaging. If there are widespread reports of system failures or malfunctions, it can tarnish the brand's image and lead to customer dissatisfaction. This can hurt sales and discourage future investment in the technology.
Covid-19 Impact
The Covid-19 pandemic has impacted the bumper sensor market significantly, primarily due to disruptions in automotive production and supply chains. With manufacturing plants temporarily shuttered and consumer demand dwindling, the production and sales of vehicles, including those equipped with bumper sensors, have declined. Additionally, economic uncertainties have led to cautious spending among consumers, affecting aftermarket sales of bumper sensors. However, as the automotive industry gradually recovers post-pandemic, the bumper sensor market is expected to rebound, driven by renewed demand for vehicle safety features.
The commercial vehicles segment is expected to be the largest during the forecast period
The commercial vehicles segment is estimated to have a lucrative growth, due to fleet operators prioritize safety features to mitigate accidents and protect their assets. Bumper sensors offer essential collision avoidance capabilities, reducing the risk of costly collisions and downtime. As such, the demand for bumper sensors in commercial vehicles is significant, driving market growth. Additionally, regulations mandating safety features in commercial vehicles further stimulate adoption. However, economic fluctuations affecting commercial vehicle sales can impact the bumper sensor market.
The blind spot detection segment is expected to have the highest CAGR during the forecast period
The blind spot detection segment is anticipated to witness the highest CAGR growth during the forecast period, as these systems enhance driver awareness by detecting vehicles in adjacent lanes, thereby reducing the risk of side collisions. As vehicle manufacturers prioritize advanced safety features, the demand for blind spot detection systems incorporating bumper sensors rises. Moreover, consumer awareness of the benefits of such systems drives market growth.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to many countries in the Asia Pacific region, such as China, Japan, South Korea, and India, which are major hubs for automobile manufacturing. As the automotive industry continues to expand, there's a growing demand for advanced safety features, including bumper sensors, to comply with regulations and consumer preferences. Further with increasing traffic congestion and road accidents, there's a heightened focus on vehicle safety across the Asia Pacific region. Bumper sensors play a crucial role in collision avoidance systems and parking assistance, thereby contributing to overall road safety.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to strict safety regulations imposed by government agencies such as the National Highway Traffic Safety Administration (NHTSA). These regulations often mandate the inclusion of advanced safety features in vehicles, including bumper sensors, to enhance collision avoidance and pedestrian protection. Consumers in North America are increasingly prioritizing safety features when purchasing vehicles. Bumper sensors, along with other ADAS technologies, are viewed favorably by consumers for their potential to improve overall vehicle safety.
Key players in the market
Some of the key players in the Bumper Sensor Market include American Honda Motor Co., Inc., Aptiv, Autoliv, BMW, Denso Corporation, Ford Motor Company, Freescale Semiconductor, Gentex Corporation, Hyundai Motor India, Mercedes-Benz, Murata Manufacturing Co., Ltd, NXP SemiconductorsRobert Bosch GmbH, STMicroelectronics, Texas Instruments Incorporated and Valeo
Key Developments:
In January 2024, Sony Corporation has reached an agreement with World Athletics for sponsorship of their World Athletics Series events from 2024 to 2026. Based on this sponsorship, Sony will support all World Athletics Series events from the World Athletics Indoor Championships Glasgow 24, which will start on March 1st of this year.
In January 2024, Sony Corporation announced development of an immersive spatial content creation system, which includes an XR head-mounted display equipped with high-quality 4K OLED Microdisplays*2.
In January 2024, TikTok owner ByteDance looks to expand in US, Canada and Australia amid rising competition and political headwinds. ByteDance is also transferring existing employees from other regions to some of the new locations.
Vehicle Types Covered:
• Commercial Vehicles
• Passenger Cars
• Off-Road Vehicles
• Other Vehicle Types
Components Covered:
• Displays
• Control Modules
• Sensors
• Other Components
Technologies Covered:
• Radar Sensors
• Ultrasonic Sensors
• LiDAR Sensors
• Camera Sensors
• Sensor Fusion Systems
• Other Technologies
Applications Covered:
• Blind Spot Detection
• Parking Assistance
• Cross-Traffic Alert
• Adaptive Cruise Control
• Other Applications
End Users Covered:
• Automobile Manufacturers
• Aftermarket
• Fleet Operators
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Bumper Sensor Market, By Vehicle Type
5.1 Introduction
5.2 Commercial Vehicles
5.3 Passenger Cars
5.4 Off-Road Vehicles
5.5 Other Vehicle Types
6 Global Bumper Sensor Market, By Component
6.1 Introduction
6.2 Displays
6.3 Control Modules
6.4 Sensors
6.5 Other Components
7 Global Bumper Sensor Market, By Technology
7.1 Introduction
7.2 Radar Sensors
7.3 Ultrasonic Sensors
7.4 LiDAR Sensors
7.5 Camera Sensors
7.6 Sensor Fusion Systems
7.7 Other Technologies
8 Global Bumper Sensor Market, By Application
8.1 Introduction
8.2 Blind Spot Detection
8.3 Parking Assistance
8.4 Cross-Traffic Alert
8.5 Adaptive Cruise Control
8.6 Other Applications
9 Global Bumper Sensor Market, By End User
9.1 Introduction
9.2 Automobile Manufacturers
9.3 Aftermarket
9.4 Fleet Operators
9.5 Other End Users
10 Global Bumper Sensor Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 American Honda Motor Co., Inc.
12.2 Aptiv
12.3 Autoliv
12.4 BMW
12.5 Denso Corporation
12.6 Ford Motor Company
12.7 Freescale Semiconductor
12.8 Gentex Corporation
12.9 Hyundai Motor India
12.10 Mercedes-Benz
12.11 Murata Manufacturing Co., Ltd
12.12 NXP Semiconductors
12.13 Robert Bosch GmbH
12.14 STMicroelectronics
12.15 Texas Instruments Incorporated
12.16 Valeo
List of Tables
1 Global Bumper Sensor Market Outlook, By Region (2021-2030) ($MN)
2 Global Bumper Sensor Market Outlook, By Vehicle Type (2021-2030) ($MN)
3 Global Bumper Sensor Market Outlook, By Commercial Vehicles (2021-2030) ($MN)
4 Global Bumper Sensor Market Outlook, By Passenger Cars (2021-2030) ($MN)
5 Global Bumper Sensor Market Outlook, By Off-Road Vehicles (2021-2030) ($MN)
6 Global Bumper Sensor Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
7 Global Bumper Sensor Market Outlook, By Component (2021-2030) ($MN)
8 Global Bumper Sensor Market Outlook, By Displays (2021-2030) ($MN)
9 Global Bumper Sensor Market Outlook, By Control Modules (2021-2030) ($MN)
10 Global Bumper Sensor Market Outlook, By Sensors (2021-2030) ($MN)
11 Global Bumper Sensor Market Outlook, By Other Components (2021-2030) ($MN)
12 Global Bumper Sensor Market Outlook, By Technology (2021-2030) ($MN)
13 Global Bumper Sensor Market Outlook, By Radar Sensors (2021-2030) ($MN)
14 Global Bumper Sensor Market Outlook, By Ultrasonic Sensors (2021-2030) ($MN)
15 Global Bumper Sensor Market Outlook, By LiDAR Sensors (2021-2030) ($MN)
16 Global Bumper Sensor Market Outlook, By Camera Sensors (2021-2030) ($MN)
17 Global Bumper Sensor Market Outlook, By Sensor Fusion Systems (2021-2030) ($MN)
18 Global Bumper Sensor Market Outlook, By Other Technologies (2021-2030) ($MN)
19 Global Bumper Sensor Market Outlook, By Application (2021-2030) ($MN)
20 Global Bumper Sensor Market Outlook, By Blind Spot Detection (2021-2030) ($MN)
21 Global Bumper Sensor Market Outlook, By Parking Assistance (2021-2030) ($MN)
22 Global Bumper Sensor Market Outlook, By Cross-Traffic Alert (2021-2030) ($MN)
23 Global Bumper Sensor Market Outlook, By Adaptive Cruise Control (2021-2030) ($MN)
24 Global Bumper Sensor Market Outlook, By Other Applications (2021-2030) ($MN)
25 Global Bumper Sensor Market Outlook, By End User (2021-2030) ($MN)
26 Global Bumper Sensor Market Outlook, By Automobile Manufacturers (2021-2030) ($MN)
27 Global Bumper Sensor Market Outlook, By Aftermarket (2021-2030) ($MN)
28 Global Bumper Sensor Market Outlook, By Fleet Operators (2021-2030) ($MN)
29 Global Bumper Sensor Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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