The global automotive blind spot detection system market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). Key manufacturers are investing heavily in R&D to reduce the impact on visually impaired people which in turn driving the growth of the global automotive blind spot detection system market. Reducing the size of the A-pillar and increasing the size of the side view mirror helps to increase the visibility of the car’s surface. Transport agencies and various unions have already introduced safety regulations for the installation of systems in commercial vehicles as heavy trucks and trailers have blind spots.
Additionally, increasing propensity for car users to improve safety features also improves the system of blind-spot detection. Increased revenue and consumer preferences regarding the purchase of vehicles fitted with safety features, such as the acquisition of blind spots instead of wide mirrors, promote the need for automotive blind spot technology. It created a challenging, fast-changing automotive manufacturing environment, leading to increased competition between international and domestic car manufacturers. Thus, the automotive industry is partnering with major technology companies to stay afloat and bring in more advanced, safer, and more comfortable cars.
In addition, the increasing use of new tools and programs to reduce the incidence of car crashes and accidents gives impetus to market growth. With the growing demand for luxury cars, car manufacturers are incorporating advanced safety features, such as pedestrian detection and BSD systems, for advanced features and traffic alerts. In line with this, the widespread adoption of BSD-based radar systems for commercial, long and medium-term commercial acquisition vehicles also promotes market growth. In addition, various technological advances, such as the development of smart mirrors and multi-camera systems, serve as other growth factors. The systems are often integrated with existing infotainment screens and use ultrasonic waves operating in extreme weather conditions with high accuracy. It includes the implementation of strong government policies to improve road and passenger safety andan increase in the cost of individual costs, which are expected to boost the market during the forecast period.
In August 2020, PRECO Electronics announced its acquisition by Sensata Technologies, Inc. The acquisition of PRECO is estimated to extend Sensata’s capabilities in plans to prevent car crashes in the industrial and heavy market or off-road markets. Such advancements are further anticipated to drive the market growth.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- Bycomponent Type
- By Vehicle Type
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Autoliv, Continental AG, Denso Corp., Delphi Automotive LLP, and Robert Bosch GmbH, among others.
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Global Automotive Blind Spot Detection System Market Report by Segment
By Component Type
- Ultrasonic
- RADAR
- Cameras
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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