Automotive Blind Spot Detection System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

August 2022
146 pages
ID: 5997567
Format: PDF
IMARC Group

Summary

Table of Contents

The global automotive blind spot detection system market size reached US$ 4.3 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 8.8 Billion by 2027, exhibiting a CAGR of 12.58% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

The automotive blind spot detection (BSD) system is a sensor-based technology that assists in controlling the vehicle and promotes passenger safety. It helps detect objects in the periphery of the mirrors or bumper of the vehicles through embedded sensors and digital cameras, which utilize electromagnetic waves or computer-processed images. It generates tactile, audible, vibrating, or visual signals to alert the driver about the presence of obstacles at blind spot areas of the adjacent traffic lanes.

The burgeoning automotive industry represents one of the key factors positively influencing the market. In addition, the increasing number of road accidents and rising safety concerns among individuals about vehicle safety are catalyzing the need for integrating advanced safety technologies in automobiles. In line with this, the growing demand for luxury vehicles is propelling automobile manufacturers to manufacture automobiles equipped with advanced safety features, such as pedestrian detection and BSD systems, which is creating a positive outlook for the market. Additionally, the widespread adoption of radar-based BSD systems in commercial vehicles for long, medium, and short-range object detection is also contributing to the market growth. Furthermore, technological advancements, such as the introduction of smart mirrors and multicamera systems to provide improved user convenience and safety, are offering a favorable market outlook. These systems are integrated with the existing infotainment screens and use ultrasonic waves that work effectively in adverse weather conditions. Moreover, the implementation of stringent government policies to encourage road and passenger safety is expected to drive the market.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global automotive blind spot detection system market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on vehicle type, technology and end user.

Breakup by Vehicle Type:
Passenger Cars
Commercial Vehicles

Passenger cars represent the biggest vehicle type due to the escalating demand for cars and stringent regulations imposed by governments of various countries to equip driver assistance systems in vehicles, which enhance the safety of passengers and vehicles.

Breakup by Technology:
Radar Sensor
Ultrasonic Sensor
LIDAR Sensor
Others

Radar sensors currently hold the largest market share as they assist drivers in changing lanes safely by indicating warning against dangerous situations.

Breakup by End User:
Original Equipment Manufacturers (OEM)
Aftermarket

OEMs presently account for the majority of the market share on account of the introduction of stringent government regulations to integrate advanced safety measures in automobiles that help passengers save their lives.

Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The Asia Pacific exhibits a clear dominance in the market due to the easy availability of raw materials and mass production of blind spot detection (BSD) systems technology at lower costs in the region.

Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Autoliv Inc., Continental Aktiengesellschaft, Delphi Technologies Plc, DENSO Corporation, Ficosa International S.A. (Panasonic Corporation), Magna International Inc., Mando Corporation, Preco Electronics Inc. (Sensata Technologies), Robert Bosch GmbH, Smart Microwave Sensors GmbH and ZF Friedrichshafen AG (Zeppelin-Stiftung).

Key Questions Answered in This Report:
How has the global automotive blind spot detection system market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global automotive blind spot detection system market?
What are the key regional markets?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global automotive blind spot detection system market and who are the key players?
What is the degree of competition in the industry?

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