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Automotive Blind Spot Detection System Market

Automotive Blind Spot Detection System Market

Automotive Blind Spot Detection System Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

189

Base Year:

2023

Date

May - 2024

Format:

PDF XLS PPT

Report Code:

VMR-VMR-2021-0763

Segments Covered
  • By Technology By Technology Ultrasound, Radar, Camera
  • By Vehicle Type By Vehicle Type Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
  • By Vehicle Propulsion By Vehicle Propulsion ICE, Electric
  • By Sales Channel By Sales Channel OEM, Aftermarket
  • By Region By Region North America, Asia Pacific, Europe, Latin America, Middle East & Africa
Snapshot
Base YearBase Year: 2023
Forecast YearsForecast Years: 2024 - 2032
Historical YearsHistorical Years: 2018 - 2022
Revenue 2023Revenue 2023: USD 4.74 Billion
Revenue 2032Revenue 2032: USD 14.6 Billion
Revenue CAGRRevenue CAGR (2024 - 2032): 13.3%
Fastest Growing Region Fastest Growing Region (2024 - 2032) Europe
Largest Region Largest Region (2023): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
Automotive Blind Spot Detection System Market Share

The global Automotive Blind Spot Detection System Market is valued at USD 4.74 Billion in 2023 and is projected to reach a value of USD 14.6 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 13.3% between 2024 and 2032.

Key Highlights of Automotive Blind Spot Detection System Market

  • Asia Pacific mainly led the Automotive Blind Spot Detection System market in 2023, with 34.5% of the total market share
  • Europe is expected to witness significant growth during the forecast period
  • In 2023, the Camera segment contributed a 40.5% extensive revenue share to the overall market
  • In 2023, the Passenger Cars segment revealed the most significant market growth with 75.1% of share
  • The OEM segment accounted for the highest growth in 2023, i.e., 90.2% of market share

Automotive Blind Spot Detection System Market Size, 2023 To 2032 (USD Billion)

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Automotive Blind Spot Detection System Market: Regional Overview

In 2023, the Asia Pacific Automotive Blind Spot Detection System market held a significant share with 34.5% of revenue. The Asia Pacific region is experiencing significant growth in the Automotive Blind Spot Detection System market, driven by rising vehicle production, technological advancements, and increasing awareness about road safety. As urbanization accelerates and disposable incomes grow, the demand for cars with advanced safety features is rising. Countries such as China, India, and Japan are leading this trend, with manufacturers incorporating blind spot detection systems into their vehicles to meet consumer safety expectations and regulatory requirements. Market growth is also stimulated by partnerships with technology companies for the development of novel solutions based on sensors.

China Automotive Blind Spot Detection System Market Overview

The Automotive Blind Spot Detection System market in China, with a valuation of USD 3.35 Billion in 2023, is projected to reach around USD 9.3 Billion by 2032. A significant compound annual growth rate of 12% between 2024 and 2032 is projected in this forecast. The market for automotive blind spot detection systems in China is growing strongly, driven by an increase in vehicle production and improved awareness of safety among consumers. In view of the urbanization and development of safety legislation, China, which is the world's largest automobile market, has seen a boom in demand for high security technologies. To meet these requirements, the auto industry is integrating GPS detection systems and promoting partnerships with technology companies in order to come up with new solutions as well as maintain a leading position on this fast-developing market.

U.S. Automotive Blind Spot Detection System Market

The global Automotive Blind Spot Detection System market can be categorized as Technology, Vehicle Type, Sales Channel, and Region.

Parameter Details
Segments Covered

By Technology

  • Ultrasound
  • Radar
  • Camera

By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Vehicle Propulsion

  • ICE
  • Electric

By Sales Channel

  • OEM
  • Aftermarket

By Region

  • North America
  • Asia Pacific
    • China
  • Europe
  • Latin America
  • Middle East & Africa

Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Continental AG
  • Delphi Technologies
  • Hyundai Mobis
  • Valeo
  • Robert Bosch GmbH
  • NXP Semiconductors N.V.
  • Autoliv
  • ZF Friedrichshafen AG
  • Ficosa Internacional SA
  • Xiamen Australia Shida Electronics Co. Ltd.
  • VBOX Automotive
  • SerVision
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
Pricing and purchase options Avail of customized purchase options to meet your exact research needs. Explore purchase options

Automotive Blind Spot Detection System Market: Technology Overview

In 2023, substantial expansion was observed in the Global Automotive Blind Spot Detection System market within the Camera segment, accounting for a market share of 40.5%. The Technology segment is divided into Ultrasound, Radar, and Camera. The camera segment in the global Automotive Blind Spot Detection System market is witnessing significant growth due to the increasing adoption of camera-based technology in vehicles. These systems shall be equipped with cameras to detect blind spots in the vehicle and provide drivers with visual feedback, improve safety as well as reduce their risk of collision. Camera flexibility and precision make them an excellent fit for the integration of advanced driver assistance systems, such as ADAS. In addition, camera based blind spot detection systems offer a more comprehensive monitoring than traditional radar based blind spot detection systems, which may sometimes be limited by weather conditions or obstacles.

Automotive Blind Spot Detection System Market: Vehicle Type Overview

Substantial growth was seen in the Passenger Cars segment in 2023, with 75.1% of market share. Based on the Vehicle Type, the Automotive Blind Spot Detection System market is divided into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. In view of increasing consumer demand for advanced safety features, the passenger car segment is a key contributor to market growth in the Global Automotive Blind Spot Monitoring System Market. As safety requirements are tightened and customers are becoming more aware of them, the automotive industry is introducing blind spot detection systems for a wider range of passenger cars, from compacts to luxury sedans. Increased emphasis on safety and driver assistance in the vehicle industry is behind this trend. In the automotive sector, this development reflects a growing emphasis on safety and driver assistance.

Automotive Blind Spot Detection System Market: Sales Channel Overview

There was a major growth in the OEM segment in 2023, over 90.2% of the market share. Based on the Sales Channel, the Automotive Blind Spot Detection System market is segmented into OEM and Aftermarket. The OEM segment in the global Automotive Blind Spot Detection System market is pivotal to its growth, as OEMs are responsible for integrating safety features into vehicles during manufacturing. With the increasing demand for advanced driver-assistance systems (ADAS), OEMs are focusing on incorporating blind spot detection systems into their product lines to meet regulatory requirements and consumer expectations. The competitive environment in which manufacturers seek to differentiate their vehicles by offering advanced safety features is at the heart of this trend.

Key Trends

  • Due to the increased importance of safety for car buyers, there is a growing demand for more sophisticated driver assistance systems. One such safety feature gaining traction is the detection of blind spots.
  • Safety standards encouraging or requiring the inclusion of systems such as blind spot detection in vehicles are being established by governments and regulatory bodies. Market growth is driven by this pursuit of better road safety.
  • In order to provide a more comprehensive safety package, blind spot detection systems are becoming part of the wider range of ADAS features such as lane departure warnings, adaptive cruise control and automatic emergency braking. Bosch's Blind Spot Detection System for heavy commercial vehicles issues acoustic/haptic warnings based on sensor data, crucial for safe lane changes. It detects and mitigates dangerous situations along with or behind the vehicle by monitoring blind spots using corner radar sensors, exceeding legal requirements
  • The benefits of safety features such as blind spot detection are now being more widely known to consumers. This awareness is encouraging manufacturers to integrate these features into more vehicle models, thereby increasing demand for them.
  • To allow consumers to choose the features that suit their preferences, manufacturers are offering customized blind spot detection systems. A wider customer base can be drawn from this trend.

Premium Insights

Strong growth is being recorded in the global Automotive Blind Spot Detection System market, driven by a strong need for safer driving practice. In order to cope with the continuing danger of obscured areas, these systems provide vital warnings of potential accidents when changing lanes. They allow the early detection of approaching vehicles in a blind spot, thus reducing the risk of an accident, by using corner radar sensors. In order to improve system efficiency, manufacturers are investing in R&D because of the increasing emphasis on accident prevention and strict safety regulations encourage further market expansion.

Report Coverage & Deliverables

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  • Competitor Benchmarking
  • Market Trends Heatmap
  • Custom Research Queries
  • Market Sentiment Analysis
  • Demographic and Geographic Insights

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Market Dynamics

Continental AG is offering TurnAssist, a technology to ensure the safety of trucks, buses and recreational vehicles at left angles in order to make it easier to turn. As the world's largest supplier of vehicle systems, components and tyres, Continental is committed to road safety. To reduce the driver's stress and make turns safer and more efficient, Turn Assist actively monitors blind spots so as to warn drivers of pedestrians, cyclists or other vulnerable road users with audible and visual signals. This radar base system guarantees the reliability of detection even when weather or light conditions are unfavourable. In all types of vehicles, including older ones, it can be combined with existing warning systems. A radar sensor, an assessment unit, sound buzzer, angle sensors and a visual warning light are part of the turn assist system.

Xiamen Autostar Electronics CO. Ltd, situated in Xiamen, is a distinguished high-tech enterprise accredited with IATF16949 certification, specializing in the design, manufacture, and distribution of automotive electronics. Xiamen seasoned in-house R&D team ensures the development of products tailored to meet the needs of the entire supply chain, from car manufacturers to end-users. Their products are widely used in a variety of vehicle categories, including ultrasonic blind spot assist systems, microwave blind spot alerts, digital parking sensors, rear view cameras, automatic parking assists and PDCs.

Competitive Landscape

Dynamic interplay between established car suppliers, technology companies and new entrants characterises the competitive landscape of the global market for Automotive Blind Spot Inspection Systems. Top companies like Bosch, Continental, and NXP Semiconductors dominate the market due to their extensive experience in automotive safety and sensor technology. These players constantly innovate to offer advanced blind spot detection solutions that can be integrated into other ADAS features. Key strategies are collaboration and partnerships where companies work together to develop the greatest innovation technologies.

Recent Market Developments

  • In January 2023, in a significant stride towards advancing automotive safety technology, NXP has unveiled its groundbreaking Automotive Radar One-Chip Family, marking a pivotal development for next-generation Advanced Driver Assistance Systems (ADAS) and autonomous driving systems. This industry-first 28nm RFCMOS radar one-chip represents a major breakthrough for safety-critical ADAS applications, such as automated emergency braking and blind-spot detection. Leveraging NXP's cutting-edge radar technology, DENSO Corporation is poised to spearhead the development of next-generation ADAS platforms, ushering in a new era of automotive safety and innovation.
  • In May 2022, the Valeo Safe Side - Blind Spot Detection System, a groundbreaking product from Valeo designed specifically for vehicles lacking a built-in blind spot detection system. With the innovative Valeo Safe Side kit, drivers can effortlessly and professionally upgrade their vehicles, significantly enhancing safety and comfort during every journey.

FAQ
Frequently Asked Question
  • The global Automotive Blind Spot Detection System valued at USD 4.74 Billion in 2023 and is expected to reach USD 14.6 Billion in 2032 growing at a CAGR of 13.3%.

  • The prominent players in the market are Continental AG, Delphi Technologies, Hyundai Mobis, Valeo, Robert Bosch GmbH, NXP Semiconductors N.V., Autoliv, ZF Friedrichshafen AG, Ficosa Internacional SA, Xiamen Australia Shida Electronics Co. Ltd., VBOX Automotive, SerVision.

  • The market is project to grow at a CAGR of 13.3% between 2024 and 2032.

  • The driving factors of the Automotive Blind Spot Detection System include

  • Asia Pacific was the leading regional segment of the Automotive Blind Spot Detection System in 2023.