USD 2.42 billion
Global Automotive Blind Spot Detection System Market Size, Share, Growth Analysis, By Component(BSD, Park Assist), By Application(Passenger Vehicles, Commercial Vehicles.) - Industry Forecast 2024-2031
Report ID:
SQSG45I2030 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
63 |
Figures:
75
Global Automotive Blind Spot Detection System Market Insights
Automotive Blind Spot Detection System Market size was valued at USD 2.42 billion in 2019 and is poised to grow from USD 2.72 billion in 2023 to USD 8.89 billion by 2031, growing at a CAGR of 12.24% in the forecast period (2024-2031).
A sensor-based device called the automobile blind spot detection (BSD) system aids in vehicle control and increases passenger safety. Through inbuilt sensors and digital cameras that make use of electromagnetic waves or photos that have been processed by a computer, it assists in detecting objects that are outside the vehicle's mirrors or bumper. To warn the driver about objects in the blind spots of the adjacent lanes of traffic, it produces tactile, auditory, vibrating, or visual signals.
The term "blind spot detection system" describes how certain parts, sensors, and accessories are integrated onto cars. They work together so that the driver can be alerted to any impediments or cars that are approaching from the driver's blind side or are very close to the vehicle. These parts often consist of mirrors, sensors, alarms, and visualisation systems that give the driver better blind-side protection and control.
One of the key factors propelling the growth of the automotive blind spot detection system market is the increase in demand for high-end vehicles across the globe. Government safety regulations that are becoming more strict and the development of new products like at-home test drives, review videos, and digital showrooms all contribute to the market's rapid expansion. The market is also influenced by the increased usage of safety services and technology due to the strict government rules put in place to prevent collisions and accidents, as well as the concentration of car manufacturers on meeting these criteria.
US Automotive Blind Spot Detection System Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Radar-based system
Fastest Growth
Radar-based system
Growth Rate
12.24% CAGR
Global Automotive Blind Spot Detection System Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Automotive Blind Spot Detection System Market Size by End-User, 2021-2028 ($ Bn)
Global Automotive Blind Spot Detection System Market Size by End-User, 2021-2028 (%)
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Global Automotive Blind Spot Detection System Market Segmental Analysis
Global Automotive Blind Spot Detection System Market is segmented based on Component Type, Application, and Region. Based on the Component the Automotive Blind Spot Detection System Market is further sub-segmented into BSD, Park Assist, Backup Camera, Surround View & Virtual Pillar, Ultrasonic, RADAR, and cameras. According to the Application, the Automotive Blind Spot Detection System Market is segregated into passenger vehicles and commercial vehicles. Based on Region, the Automotive Blind Spot Detection System Market is further sub-segmented into North America, Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand.
Automotive Blind Spot Detection System Market Analysis by Component Type
Over the course of the forecast period, the RADAR market segment is expected to rule the industry. Growing interest in installing safety equipment in vehicles is contributing to RADAR's continued dominance over the forecast period. The radio waves used by the automotive RADAR can easily travel through the atmosphere. When the waves encounter a surface or obstruction, they bounce back to the moving object. Automotive RADARs are therefore primarily employed in object detection applications. There are three types of automotive RADARs: long-, medium-, and short-range RADARs.
The range of a long-range radar is between 10 and 250 metres, that of a mid-range radar is between 1 and 60 metres, and that of a short-range radar is between 0.5 and 20 metres. The use of short- and medium-range radar sensors helps drivers keep a safe distance from objects and stay in their lane by detecting objects around them. The vehicle's park assist system also makes use of short-range RADAR to guide the driver while parking in a crowded space.
Automotive Blind Spot Detection System Market Analysis by Application
There are two segments of the global automotive blind spot detection market: passenger vehicles and commercial vehicles. During the forecast period, the passenger vehicle segment is expected to be quite appealing. Consumers are becoming more aware of safety, which is expected to help the passenger vehicle segment grow during the projection period.
Global Automotive Blind Spot Detection System Market Share By End-User, 2021 (%), 2023 (%)
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Global Automotive Blind Spot Detection System Market Regional Insights
Over the forecast period, Asia Pacific is expected to rule the market. The rapid expansion of Asia Pacific in this market is being fueled by the simple accessibility of raw materials and the low-cost mass production of blind spot detection (BSD) system technology. Consumers' changing preference for mid-level to premium vehicle models has been influenced by rising disposable income. In terms of market share, North America is expected to be in second place. North America continues to hold the second-largest position thanks to strict safety regulations imposed by the government. The rating system for vehicles has been enhanced by ruling bodies in this region, which has forced manufacturers to increase production.
The market is expected to grow strongly in Europe. The presence of significant key players in this area and rising consumer awareness of vehicle safety are expected to drive positive market growth. During the expected period, an increase in the number of vehicles in this region equipped with driver assistance systems will propel the market for blind spot detection systems in Europe.
Global Automotive Blind Spot Detection System Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
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Global Automotive Blind Spot Detection System Market Dynamics
Automotive Blind Spot Detection System Market Driver
- It is expected that strict safety regulations will drive the market.
Around 1.25 million people per year perish in traffic accidents, according to the WHO. Governments have imposed strict regulations on automotive manufacturers to equip cutting-edge safety features that help save the lives of passengers in the vehicles in order to reduce the rising number of traffic accidents. Leading manufacturers have made significant R&D investments to redesign their cars to reduce the blind spot detection area. The area of the vehicle can be seen more clearly by reducing the size of the A-pillar and increasing the size of the side viewing mirror. Due to the fact that heavy-duty trucks and trailers have a large blindspot area, numerous transportation associations and unions have established safety regulations for the installation of these systems in commercial vehicles.
- Consumers' Increasing Preference for Safety Solutions Will Support Growth
The market for blind spot detection systems has benefited from consumers' growing preference for enhanced safety features. The demand for BSD has increased due to the increasing number of traffic accidents worldwide. The demand for BSD technology is being fueled by rising disposable income and a shift in consumer preference toward buying cars with BSD instead of wide mirrors. The combination of ADAS and blindspot technology is also growing in popularity with consumers because it automatically assists in avoiding obstacles. The BSD works in conjunction with RADAR technology to keep the car in its lane and prevent it from deviating from the path.
Automotive Blind Spot Detection System Market Restraint
- Poor weather will continue to restrain the expansion of a select number of regional markets.
Over the course of the forecast period, regions with extreme weather, such as fog, snowfall, and rainfall, are expected to restrain market growth. The blind spot detection system is ineffective in the region with the harsh climate. Extreme weather makes it difficult to see, and camera-based systems produce blurry images because of the heavy accumulation of fog or moisture on the camera's lens. Utilizing camera-based technology in severe weather could harm the camera's lens. It is also expected that the high repair costs of camera-based BSD will restrain market expansion.
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Global Automotive Blind Spot Detection System Market Competitive Landscape
In the regions of Europe and Asia Pacific, Continental AG is a major player. The business provides cutting-edge components and blind spot detection systems to various automakers. High R&D expenditures have led to the development of technologically advanced components that are competitively priced.
Automotive Blind Spot Detection System Market Top Player’s Company Profiles
- Autoliv Inc.
- Continental AG
- Delphi Automotive LLP
- Denso Corporation
- Robert Bosch GmbH
- Magna International Inc.
- Hella KGaA Hueck & Co.
- Valeo SA
- Samvardhana Motherson Reflectec
- Ficosa International S.A.
- Gentex Corporation
- ZF Friedrichshafen AG
- Mobileye N.V.
- Stoneridge, Inc.
- Quanergy Systems, Inc.
- Hitachi Automotive Systems, Ltd.
- Muth Mirror Systems, LLC
- WABCO Holdings Inc.
- Preco Electronics, Inc.
- Aptiv PLC.
Automotive Blind Spot Detection System Market Recent Development
- In October 2021,Wide A-pillars were nearly see-through thanks to a Virtual A-Pillar that Continental created to assist reduce forward blind spots. The Virtual A-Pillar from Continental is intended to address the rising issue of vehicles that require enlarged front pillars to pass required safety tests. Continental is delivering improved vision to the driver's view with new foldable OLED displays and sophisticated head tracking. A camera positioned inside the vehicle, directly above the steering wheel, is used to monitor movement. The OLED screens built into the A-pillars are simultaneously receiving a live feed from Continental's SurroundView camera, which is installed on the exterior of the car.
- In September 2021,The digital rearview system for the Audi e-Tron was created by Ficosa. The digital rear-view system offers a completely new driving experience that is safer, more effective, and comfortable by replacing the conventional exterior side mirrors with cameras and displays. This system was created and produced at the Wolfenbuttel Center and the Viladecavalls Technology Center in Spain (Germany).
Global Automotive Blind Spot Detection System Key Market Trends
- A growing trend in the market for blind spot detection systems is consumers' increasing propensity for CMOS image sensors. The cameras in conventional vehicles used charged coupled device (CCD) technology to produce distorted images on the infotainment screen. In order to offer high-resolution technology that is invisible to CCD technology devices, major OEMs have heavily invested in developing advanced image sensor technology. A significant market trend is the increase in demand for CMOS image sensors to improve vehicle safety.
Global Automotive Blind Spot Detection System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the RADAR segment dominated the global Automotive Blind Spot Detection System Market in 2021 and is expected to maintain its dominance throughout the forecast period. In 2021, the Asia Pacific dominated the global Automotive Blind Spot Detection System Market owing to the region's highly aware and economically stable population.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.42 billion |
| Market size value in 2031 | USD 8.89 billion |
| Growth Rate | 12.24% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Automotive Blind Spot Detection System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Automotive Blind Spot Detection System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Automotive Blind Spot Detection System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automotive Blind Spot Detection System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Automotive Blind Spot Detection System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Automotive Blind Spot Detection System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Automotive Blind Spot Detection System Market Report Snapshots
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