Impact of COVID-19 on the Collision Avoidance Sensors Market
Collision avoidance sensors refer to the safety systems designed to detect obstacles and minimize the risk of accidents. It is based on the principle of SONAR that finds applications in ships and submarines. These systems are extensively used in aircraft, cars, and other vehicles for safety purposes. Rising incorporation of these sensors in self-driving cars & supersonic jets along with the increasing demand for such systems in niche applications is expected to fuel the market growth post-COVID-19. Evolving semiconductor and sensor technologies are transforming the global electronics industry, with sectors such as electronics and automotive using lidar, radar, or vision sensors for improved vehicle operations.
The spread of COVID-19 has impacted the collision avoidance sensors market. The global spread of the pandemic has initiated lockdowns in numerous countries, disrupting supply chains and shutting down numerous manufacturing plants. The slowdown in the production of collision avoidance sensors has severely impacted market growth.
Industry players across the globe are focused on lowering operational costs to survive in the collision avoidance sensors market. A resumption in the manufacturing of collision avoidance sensors and related devices in the post-lockdown period is expected to drive the market growth. Government initiatives and relaxations in the lockdowns are expected to boost the demand for collision avoidance sensors over the forecast timeframe. Thus, the demand for collision avoidance sensors and related products is expected to increase due to the rising adoption of such advanced products in automotive and marine applications to ensure vehicle safety.