Anti-Collision Sensor Market size is driven by the increasing number of on-road vehicles, rise in traffic congestion, and a significant increase in road accidents. Globally, government initiatives and regulatory norms are in place to control traffic congestion and ensure greater safety for the driver and passengers. Anti-collision sensors are increasing becoming a part of modern vehicle safety systems designed to avoid and reduce the severity of traffic and road accidents. These factors along with advances in sensor technologies are propelling the market growth.
The growing popularity of autonomous vehicles worldwide has created a need for improved safety of vehicles and occupants. As a result, vehicle systems such as advanced driver assistance system (ADAS), automatic parking, and lane assistance systems are experiencing demand. While developments in the self-driving industry continue to create new opportunities, the demand from new luxury passenger vehicles will certainly augment the industry forecast over 2021-2027.
Considering the technology, camera-based sensor systems are slated to capture a fair share of the market by 2027. Numerous automakers are utilizing camera-based systems in ADAS, parking assistance, and other vehicle systems owing to better safety and reliability over other technologies such as ultrasonic, laser, and radar. For instance, in May 2021, EV maker Tesla announced plans to replace radar sensors with camera-based autopilot system on its Model 3 and Model Y cars to support ADAS as well as active safety features.
In terms of the regional outlook, Europe is expected to be a highly profitable market for anti-collision sensors in the near future. The region is home to some of the world’s biggest carmakers who are rapidly adopting sensor technology in their vehicles, fueling the scope of the market. Also, strict regulatory safety standards will create a favorable growth outlook for automotive component developers.
The European Commission had introduced road safety as part of its 2021-2030 policy framework with a key focus on autonomous mobility. As part of the initiative, the commission proposes making reverse detection sensor, reversing cameras, and intelligent speed assistance systems, among other technologies, mandatory in future vehicles.
Global market consists of notable players including Delphi Automotive, Denso Corporation, Robert Bosch GmbH, Yaskawa, TRW Automotive (ZF Friedrichshafen, ZF TRW Automotive Holdings Corp.), Continental AG, ZF Friedrichshafen, and Wadeco, among others. These companies are continuously working on product innovations to bring new, advanced, and more innovative solutions to the market.
For instance, in October 2020, Robert Bosch had unveiled a new ADAS and body electronics catalogue which features Park Pilot ultrasonic parking sensors among other sensors and systems. With the launch of the catalogue Bosch aims to bolster its commitment to deliver more ADAS systems in the future. Bosch had also collaborated with Siemens Mobility in March 2021 to design a fully integrated collective perception system by connecting vehicles with roadside cameras for pedestrian and vehicle collision avoidance.
The coronavirus outbreak had slowed down the market trends to some extent due to supply chain disruption and considerable disruption of automotive manufacturing activities. Also, self-driving companies may have temporarily suspended or postponed autonomous vehicle development and testing, leading to a weakened demand for new sensors.
The COVID-19 situation is gradually improving, and autonomous carmakers have started to resume testing operations. For instance, in June 2020, American ridesharing company Lyft had resumed autonomous vehicle testing on public roads with the necessary safety guidelines prescribed by the U.S. CDC.