Automotive Blind Spot Detection System Market

The global Automotive Blind Spot Detection System market was valued at USD 5.64 Billion in 2020 and is projected to reach USD 9.25 Billion by 2028, growing at a CAGR of 9.40%% from 2021 to 2028.

The blind-spot detection uses a set of sensors mounted on the side mirrors or rear bumper to detect vehicles in the adjacent lanes. If the sensors detect something, they'll alert you through an audible and/or visual warning. Some vehicles even use a camera as the main part of the system or to complement the sensors. As the cost of the tech has gone down, the safety and convenience feature is now offered across the market—not just on luxury vehicles. Models ranging from the subcompact Nissan Versa to massive trucks like the Ford Super Duty all offer the feature. The blind spot detection system reduces the risk of accidents during lane changes by monitoring the dangerous blind spot area.

The global Automotive Blind Spot Detection System market report provides a thorough analysis of each segment, region, and country. All the segments are studied considering historical and future trends across geographies. All the segments are analyzed based on trends, market size, and forecasts, and the data is provided for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report. In addition to that, the report will cover a thorough analysis of major players operating in the market based on company overview, product portfolio, recent developments, business strategies, financial performance, and market share among others. Cumulatively, the report will cover all aspects regarding the global Automotive Blind Spot Detection System market. 

In 2020, swift spread of COVID-19 largely impacted the global business operations, disrupting the supply chain and impairing various industries. The global trading activities were declined severely owing to the nationwide lockdowns, international border seals, and strict social distancing measures. This had a drastic impact on the global economy, as the companies across the globe were forced to either fully close or partially close their operations, leading to disruption in the supply-demand ratio. Moreover, in 2021 several key markets such as U.S., India, and Brazil among others witnessed a second wave of COVID-19 that further disrupted the market. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The report includes an exhaustive analysis of Automotive Blind Spot Detection System industry that includes drivers, restraints/challenges, opportunities, and segmental/regional trends among others. Apart from that, it will also cover extensive information on various marketing tools such as PEST Analysis, Porter’s Five Forces Analysis, pricing trends,  SWOT analysis, and value chain among others.

The governments are implementing stringent regulations for vehicles to be installed with advanced safety systems to decrease accident rates and resulting injuries and deaths in countries across the globe. Furthermore, obligatory installation of blind spot detection system in both developed and emerging countries is augmenting the market growth. The deployment of ADAS systems in other car models is further supporting the growth of the automotive blind spot detection system market. Various manufacturers in automotive industry are investing in ADAS in order to differentiate their automobiles from other manufacturers in the industry which in turn is augmenting the automotive blind spot detection system market are factors driving the market 

The rising vehicle sale across the globe is anticipated to augment the growth of the automotive blind spot detection system market during the forecast period. This is owing to the rapid urbanization, rising disposable income of the consumers, and increasing developments in technologies. Furthermore, the increasing adoption of personal vehicles has also increased the global sales of automobiles and its production by the manufacturers which in turn is expected to support the growth of the automotive blind spot detection system market in the forecast period.

The lack of required infrastructure in emerging countries is expected to hamper the growth of the automotive blind spot detection system market. This system needs basic infrastructure like lane marking, well-organized roads, and availability of GPS for proper functioning. The cost considerations, poor infrastructure outside urban areas, and poor driving training and rules are expected to hinder the growth of the advanced driver assistance systems market in emerging economies.

Component  Analysis: Preview

On the basis of Component, the market is segmented into RADAR sensor, ultrasonic sensor. RADAR sensor held the highest share in the global Automotive Blind Spot Detection System market and is projected to witness the same trend during the forecast period.

Application Analysis: Preview

Based on Application, the market is segmented into Passenger Vehicle, Commercial Vehicle. Passenger vehicle accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.

Analysis: Preview

Based on , the market is segmented into . dominates the global Automotive Blind Spot Detection System market and is expected to continue the same trend from 2021 to 2028. 

Geographically, the global Automotive Blind Spot Detection System market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The report covers a thorough segmental analysis for each region comprising of market size and estimations for each segment by region for the years 2016–2028. In addition to that the report analyses Automotive Blind Spot Detection System market at country-level hence the regional study is further bifurcated into key country-level markets from each region. North America is anticipated to dominate the global market during upcoming years. This is accredited to the presence of key market players combined with rising demand from the end-users.  Some of the prominent country-level markets are U.S., China, Germany, France, India, and Japan.   

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

Major players in the global Automotive Blind Spot Detection System market are Robert Bosch GmbH, Continental AG, Xiamen Autostar Electronics Co. Ltd., Denso Corporation, Valeo S.A., Preco Electronics, Autoliv Inc., Ficosa International, ZF TRW, Delphi Automotive Plc.. The global Automotive Blind Spot Detection System market report covers an exhaustive analysis of all the key players in the industry. This includes a business overview, extensive portfolio, business strategies, news, financial performance, length of distribution network,  and geographical presence among others. In addition to that, the report also covers company market share along with in-depth strategic developments.   

• The global Automotive Blind Spot Detection System market was valued at USD 5.64 Billion in 2020
• The global Automotive Blind Spot Detection System Market is projected to reach USD 9.25 Billion by 2028
• North America held the highest share of the Automotive Blind Spot Detection System market in 2020
• Some of the major companies operating in the Automotive Blind Spot Detection System market are Robert Bosch GmbH, Continental AG, Xiamen Autostar Electronics Co. Ltd., Denso Corporation, Valeo S.A., Preco Electronics, Autoliv Inc., Ficosa International, ZF TRW, Delphi Automotive Plc.