The new report by Expert Market Research titled, ‘Global Automotive Blind Spot Detection Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the global automotive blind spot detection market, assessing the market based on its segments like vehicle types, component types, and regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators and analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 9.3%
The global automotive blind spot detection industry is being driven by the rising demand for passenger vehicles among the consumers. This can be associated with the steadily increasing global population and their subsequent transportation needs. Additionally, the rapid urbanisation, high purchasing power, and the improved standards of living are further expected to positively impact the market growth. Moreover, the rapid technological advancements such as the integration of advanced technologies such as artificial intelligence (AI) are also estimated to aid the market growth. The factors are anticipated to augment the market growth in the coming years.
Industry Definition and Major Segments
Automotive blind spot detection is a sensor-based technology that helps drivers to monitor the blind spots of their vehicles to ensure the presence of any obstacles in the vicinity. These devices issue a signal to the driver informing about an impending collision, thus, helping the driver to avoid any such situations.
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The automotive blind spot detection market, on the basis of vehicle type, can be segmented into:
• Passenger Car
• Commercial Vehicle
Based on component type, the industry can be segregated into:
• Ultrasonic
• RADAR
• Cameras
The regional markets for automotive blind spot detection include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The global automotive blind spot detection industry is being driven by the rising demand for vehicular safety. This can be associated with the rising number of road traffic accidents worldwide with 1.3 million casualties every year, according to the WHO reports. Additionally, the increased demand for blind spot detection in commercial vehicles is further expected to positively impact the market growth. This can be associated with the large body structure of commercial vehicles, which reduces the visibility of the driver. The factors are anticipated to augment the market growth in the coming years.
Key Market Players
The major players in the market are Delphi Automotive LLP, Continental AG, Robert Bosch GmBH, ZF Friedrichafen AG, Autoliv, Denso Corporation, and Valeo, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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