Anti-collision Sensor Market Size, Share, Trends and Forecast To 2024 Anti-collision Sensor Market

Global Anti-collision Sensor Market: Vehicular Density
and Road Accidents on the Rise, observes TMR
Nearly all the leading players in the global anti-collision sensor market hold extensive business grasp
and experience in the automotive industry. Their strong distribution networks in the global automotive
industry is expected to allow them to continue their dominance in the global anti-collision sensor market
over the coming years. The list of market leaders for 2015 included Robert Bosch GmbH, Continental A.G.,
Denso Corporation, and ZF Friedrichshafen.
According to a research report released by Transparency Market Research, the global anti-collision sensor
market was calculated to be valued at US4.36 bn by the end of 2016. The market’s revenue is expected to
expand at a CAGR of 19.8% from 2016 to 2024 and is likely to account for a total revenue of US$18.54 bn
at the end of 2024. The global anti-collision sensor market is expected to expand at a CAGR of 23.3% from
2016 to 2024 on the basis of volume.
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Growing Vehicle Count Prompts Better Car Safety Equipment Production
“The leading factor promoting the global anti-collision sensor market today, is the staggering volume of
vehicles coming on the roads. The high vehicle count, coupled with human error and unpredictable
circumstances, is increasing the count of accidents across the world. This is more prevalent in emerging
economies, where road planning is low and stringency of traffic rules is needed. Developed economies
such as the U.S. hold several strict regulations when it comes to vehicle and driver safety. One such
initiative was the New Car Assessment Program, where car makers are given a set of guidelines to follow
when building new cars. Today, these regulations are creating a solid ground for manufacturers of anti-
collision sensors to rise on,” states a TMR analyst.
The global anti-collision sensor market is also being driven by the swift rate of advancements being made
in sensor technology. These improvements are making today’s sensors cheaper, more reliable, stronger,
and capable of working in a large array of conditions. These factors are making it increasingly appealing
for car makers to incorporate state of the art anti-collision sensors to their newer models. The same can be
said for automotive manufacturers in defense and agriculture, where the growing use of UAVs is driving the
demand for advanced anti-collision sensors.
High Costs Still Deter Large-scale Use of Anti-collision Sensors in Numerous Regions
Although advancements are creating space for cost reduction in modern sensor technologies, their
commercial use is still not completely viable for small and medium scale car makers, as well as the
companies based in emerging economies. This is a significant loss to the global anti-collision sensor market
as the emerging economies are where the current boom in automobile demand is emanating from.
“The cost deterrent is expected to ease up over the coming years. Buyers from emerging economies are
expected to show a greater demand for high-end luxury cars due to growing disposable incomes and a