Anti-Collision Sensor Global Market Report 2024

The anti-collision sensor market size has grown rapidly in recent years. It will grow from $12.4 billion in 2023 to $14.78 billion in 2024 at a compound annual growth rate (CAGR) of 19.1%. The growth observed during the historical period in the field of anti-collision sensors can be attributed to several factors. These include the implementation of stringent safety regulations, an increase in road traffic accidents, the overall growth of the automotive industry, heightened consumer awareness about safety features, the impact of urbanization leading to traffic congestion, and incentives provided by the insurance industry to promote the adoption of safety technologies. These factors collectively contributed to the development and adoption of anti-collision sensors during the historic period.

The anti-collision sensor market size is expected to see rapid growth in the next few years. It will grow to $30.33 billion in 2028 at a compound annual growth rate (CAGR) of 19.1%. The anticipated growth in the forecast period in the field of anti-collision sensors can be attributed to several factors. These include the increasing deployment of autonomous and semi-autonomous vehicles, a heightened focus on pedestrian and cyclist safety, government initiatives aimed at improving road safety, the growth of the electric vehicle market, and the overall demand for more efficient transportation solutions. Key trends expected in the forecast period encompass advancements in lidar technology, the integration of radar and camera systems for comprehensive sensing capabilities, the adoption of vehicle-to-everything (V2X) communication for enhanced safety measures, the miniaturization and integration of sensor technologies in smartphones, and an increased focus on cybersecurity considerations in sensor-equipped vehicles. These trends collectively contribute to the continued evolution and expansion of the anti-collision sensor market.

Increased road accidents are projected to drive the growth of the anti-collision sensor market. These accidents involve at least one vehicle on public roads, resulting in injuries or fatalities. Anti-collision sensor systems, utilizing radar, cameras, GPS, and AI, aim to prevent crashes and reduce mishaps by warning or assisting drivers. Augmented traffic congestion has contributed to the surge in accidents, highlighted by statistics from August 2022 by the National Highway Traffic Safety Administration (NHTSA), where the fatality rate rose to 1.27 per 100 million vehicle miles traveled, up from 1.25 in the same period in 2021. Additionally, the World Health Organization (WHO) reported over 1.3 million annual fatalities in road traffic accidents as of June 2022, further emphasizing the driving force behind the anti-collision sensor market.

The expansion in automotive production is anticipated to fuel the growth of anti-collision sensor technology. This sector involves the mass production of vehicles such as cars, trucks, buses, and motorcycles in specialized facilities utilizing large-scale assembly lines. Anti-collision sensors integrated into vehicles significantly contribute to road safety by identifying obstacles, pedestrians, and other vehicles, offering real-time data to automated systems or drivers for prompt evasive actions. August 2023 data from the Board of Governors of the Federal Reserve System noted a rise in total vehicle production in the United States to 11.77 million units in July, up from 10.91 million units in June. Consequently, this surge in automotive output is a driving force behind the expansion of the anti-collision sensor market.

Technological advancements stand as a prominent trend influencing the popularity of anti-collision sensors in the market. Major companies within this sphere prioritize developing innovative solutions to solidify their market positions. As an illustration, in June 2021, Sick AG, a German sensor and sensor solutions manufacturer, unveiled scanGrid2. This new offering harnesses proprietary solid-state LiDAR technology, enhancing the productivity of small autonomous vehicles and line-guided transport trucks. scanGrid2, categorized as a Type 2/SIL 1 safety sensor, effectively safeguards hazardous areas up to Performance Level C, serving proficiently in collision avoidance scenarios.

Prominent entities within the anti-collision sensor market are intensifying their efforts towards introducing AI-powered anti-collision devices to gain a competitive advantage. These innovative safety solutions leverage artificial intelligence algorithms to scrutinize real-time data obtained from diverse sensors and cameras, enabling the detection of potential hazards or collisions across various environments. Notably, in September 2021, India's Central Road Research Institute (CRRI) launched iRASTE (Intelligent Solutions for Road Safety through Technology and Engineering), an AI-driven anti-collision device. iRASTE focuses on identifying potential accident-prone situations during driving, utilizing an Advanced Driver Assistance System (ADAS) to alert drivers, thereby bolstering road safety measures through risk identification and accident prevention.

In August 2022, Cummins Inc., a US-based company specializing in diesel and natural gas engines, as well as power generation systems and associated components, completed the acquisition of Meritor Inc. for an undisclosed amount. This strategic acquisition extends Cummins' components business, offering significant growth prospects across the company's array of power solutions and applications. Cummins foresees leveraging its global presence to expand these fundamental axle and brake businesses, catering to a wide spectrum of customers, including commercial truck, trailer, off-highway, defense, specialized, and aftermarket segments, on a global scale. Meritor Inc., based in the US, is a renowned manufacturer of automotive components catering to military, trucks, trailers, and specialized vehicles, aligning well with Cummins' strategic objectives.

Major companies operating in the anti-collision sensor market report are Delphi Technologies Inc., Denso Corporation, Robert Bosch GmbH, TRW Automotive Holdings Corp., Continental Aktiengesellschaft, ZF Friedrichshafen AG, NXP Semiconductors N.V., Honeywell International Inc., Siemens Aktiengesellschaft, Wadeco Co. Ltd., Texas Instruments Incorporated, Aisin Seiki Co. Ltd., Autoliv AB, Raytheon Technologies Corporation, GEM Electronica Co. Ltd., Volkswagen Aktiengesellschaft, Bayerische Motoren Werke Aktiengesellschaft, Mercedes-Benz Group AG, Volvo Car Corporation, Wabtec Corporation, General Electric Company, Analog Devices Inc., Hyundai Mobis Co. Ltd., Valeo SA, Aptiv PLC, Infineon Technologies AG, STMicroelectronics N.V., Panasonic Corporation, LG Innotek Co. Ltd., Murata Manufacturing Co. Ltd., TE Connectivity Ltd., Sensata Technologies Holding plc.

Asia-Pacific was the largest region in the anti-collision sensors market in 2023. The regions covered in the anti-collision sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the anti-collision sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary vehicle types for anti-collision sensors include passenger cars and commercial vehicles. Passenger cars, defined as road motor vehicles meant to transport passengers with a seating capacity of no more than nine people (including the driver), benefit from various sensor technologies. These technologies encompass camera sensors, lidar sensors, radar sensors, and ultrasonic sensors, employed in applications such as forward collision warning systems, blind-spot monitors, lane departure warning systems, parking sensors, and adaptive cruise control. Anti-collision sensors find applications across diverse industries, including aerospace and defense, automotive, industrial, rail, and others.

The anti-collision sensor market research report is one of a series of new reports that provides anti-collision sensor market statistics, including anti-collision sensor industry global market size, regional shares, competitors with a anti-collision sensor market share, detailed anti-collision sensor market segments, market trends and opportunities, and any further data you may need to thrive in the anti-collision sensor industry. This anti-collision sensor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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