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LONDON, GREATER LONDON, UNITED KINGDOM, February 28, 2025 /EINPresswire.com/ -- What Is The Current Growth Rate Of The Pedestrian Detection System Global Market?
In recent years, the pedestrian detection system market size has shown rapid expansion, with projections estimating its growth from $8.46 billion in 2024 to $9.88 billion in 2025, marking a compound annual growth rate CAGR of 16.8%. The historic period growth attributes to increasing incidents of traffic accidents involving pedestrians, advancements in sensor technology, stricter government regulations and spreading awareness about road safety, along with enhanced vehicle safety features such as the adoption of advanced driver assistance systems ADAS.
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What Is The Projected Growth Of The Pedestrian Detection System Global Market?
The pedestrian detection system market is projected to witness boosted growth in the next few years, growing to $18.2 billion in 2029 at a CAGR of 16.5%. The forecast period growth underpins the expansion of autonomous vehicle technology, increasing urbanization and pedestrian traffic, development of smart cities and infrastructure, and a rising trend in demand for real-time data processing alongside growing emphasis on vehicle-to-everything V2X communication.
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What Are The Key Market Drivers And Trends In The Pedestrian Detection System Sector?
An important driver for the market growth is the rising number of road fatalities, which propels the demand for the pedestrian detection system. Road fatalities refer to deaths as a direct result of injuries sustained in traffic accidents. The rise in fatalities being attributed to factors such as higher vehicle speeds, distracted driving due to mobile phone usage, and inadequate road safety measures. Additionally, surging urbanization and an increasing number of vehicles are leading to more frequent and severe traffic accidents. Pedestrian detection systems, equipped with AI, sensors, and cameras in vehicles and road infrastructure, identify pedestrians and prevent accidents, thereby reducing road fatalities. Interestingly, according to Eurostat, a Luxembourg-based statistical office of the European Union, in 2022, there were 20,653 sad losses in road accidents in the EU. This recorded an increase of 3.7% compared with 2021, driving the growth of the pedestrian detection system market.
Who Are The Key Industry Players In The Pedestrian Detection System Sector?
Key operating companies in the pedestrian detection system market include Hitachi Ltd., Robert Bosch GmbH, Siemens AG, Intel Corporation, Panasonic Corporation, Denso Corporation, ZF Friedrichshafen AG, Continental AG, Magna International Inc., NVIDIA Corporation, Subaru Corporation, Geely Automobile, Valeo S.A., Texas Instruments Incorporated, Aptiv PLC, Infineon Technologies AG, Magneti Marelli S.p.A., Autoliv Inc., HELLA GmbH & Co. KGaA, Teledyne Technologies, Mobileye, Veoneer, Velodyne Lidar Inc., LeddarTech.
Is There Specific Technological Integration In The Pedestrian Detection System Sector?
Many companies in the pedestrian detection system market are focusing on AI integration as part of proactive safety measures, such as AI-powered object detection, to enhance safety, reduce accidents, and provide real-time insights for informed decision-making. The AI-powered object detection identifies people and material handling equipment MHE, offering visual and audio alerts for potential hazards.
How Is The Pedestrian Detection System Market Segmented?
1 By Component: Hardware; Software.
2 By Technology: Vision-Based Systems; Sensor Fusion Systems; Infrared Systems; Ultrasonic Systems.
3 By Distribution Channel: Original Equipment Manufacturers OEMs; Aftermarket.
4 By Vehicle Type: Passenger Vehicles; Commercial Vehicles.
5 By Application: Traffic Management; Surveillance; Other Applications.
Each category is further divided into subsegments:
1 By Hardware: Cameras; Sensors; Processing Units; Communication Modules; Display Units; Mounting Accessories.
2 By Software: Image Processing Software; Machine Learning Algorithms; Data Fusion Software; Real-Time Processing Software; Simulation and Testing Software; User Interface Software; Integration Software For Vehicle Systems.
What Is The Regional Insight Into The Pedestrian Detection System Market?
The dominant region in the pedestrian detection system market in 2024 was Asia-Pacific. Europe, however, is expected to outpace Asia-Pacific to be the fastest-growing region over the forecast period. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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