$SNSGF Sense Technologies Enters the $49 Billion Waste Collection Service Industry and The $2.8 Billion Blind Spot Detection System
Source: InvestorsHub NewsWire
GRAND ISLAND, NE-- December 16, 2015 -- InvestorsHub NewsWire -- Sense Technologies, Inc. (OTC PINK: SNSGF) announced that it is entering the $49 Billion Waste Collection Service Industry and the $2.8 Billion Blind Spot Detection System Market with commercial and consumer safety solution aimed at saving lives.
The average American produces over 4 pounds of trash per day. That's more than enough waste to fill over 65,000 garbage trucks daily. It is estimated that there are over 185,000 garbage trucks running in the United States.
"We understand the unique challenges and blind spots created by refuse trucks. Our products assist drivers in facing these challenges as they navigate alleys, busy streets, and tight turns," said Mr. Bruce Schreiner, CEO.
Depending on the type, garbage trucks can cost an average of $130,000 to $235,000 per unit. Municipalities can spent millions a year to purchase and maintain a fleet of vehicles to service their communities.
In 2013 there were over 15,000 fatality accidents over a five-year period. According to the survey of over 22,000 trucks, garbage trucks were the third leading cause of fatalities with an average 5.12 deaths per every 100 million miles driven.
According to the National Institute for Occupational Health, solid waste collection continues to have the fifth highest fatality rate in the United States -- 40.7 fatalities per 100,000 workers.
Sense Technologies, Inc. is has also updated its website: www.sensetech.com as it further prepares its participation in the $2.8 Billion blind spot detection system market.
"We are getting ready for a major marketing campaign that will highlight the Guardian Alert and Scope Out, two outstanding blind spot detection products, aimed at saving lives with affordable solutions," said Bruce Schreiner, CEO.
Automotive safety systems have become advanced, sophisticated and efficient over a period of time. Today, the automotive industry is more inclined toward the use of advanced technologies to reduce the number of accidents and to mitigate the impact of accidents on occupants. The recent increase in the acceptance of both governments and consumers toward safety attributes of vehicles is one of the major drivers for the automotive safety systems market.
According to research by the advocacy group kidsandcars.org, back up collisions was the leading cause (34%) for U.S. non-traffic fatalities of children under 15 from 2006 - 2010.
The US Centers for Disease Control reported that from 2001-2003, an estimated 7,475 children under the age of 15 were treated for automobile back-over incidents. About 300 fatalities per year result from back up accidents.
"Time and time again, our Guardian Alert has proven to be a highly versatile, cost effective and extremely user-friendly backing awareness system. It alerts a vehicle operator to the presence of obstacles in blind spots that exist behind virtually all vehicles," continued Mr. Schreiner.
"Our Scope Out product is indeed a new vision for drivers because the system of specially-designed mirrors in an aerodynamic, high-tech design which are placed at exterior points on automobiles offers the driver a more complete and heretofore unachieved view backing out of a parking spot or garage or when changing lanes or merging in traffic flows," ended Mr. Schreiner.
The Blind Spot Detection system market in terms of value is projected to grow $2.8 Billion by 2019 at a healthy CAGR of 22.8% from 2014 to 2019.
In the coming years, the increasing demand for luxury cars in the regions such as Europe and Asia Pacific, mainly in China, India and Japan, is expected to further drive the market. Germany, the U.K., and the U.S. are expected to be the largest market for automotive blind spot detection systems. Developing countries like China, Russia, Brazil, and Mexico are expected to have high growth rate in the demand for automotive BSD systems from 2014 to 2019.
About Sense Technologies, Inc.
Sense Technologies develops and markets backing awareness products for safety. It is a public company with its stock listed on the OTC under the symbol SNSGF. For additional information, visit www.sensetech.com.
This press release consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. In particular, there is no assurance that the parties will reach a definitive agreement for the proposed transaction or that the transaction will be completed. Additionally, no assurance can be provided that the terms of any transaction will be similar to those contemplated by the Letter of Intent. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, and actual results could differ materially from those indicated by such forward looking statements. The Company assumes no obligation to update the information contained in this press release, whether as a result of new information, future events, or otherwise.
For more information contact:
sensetechnologyinc@gmail.com
