Market Research Report
Automotive Blind Spot Detection System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||975984|
|Published||Content info||142 Pages
Delivery time: 2-3 business days
|Automotive Blind Spot Detection System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: December 5, 2020||Content info: 142 Pages||
The global automotive blind spot detection system market grew at a CAGR of around 13% during 2014-2019. The automotive blind spot detection (BSD) system refers to a sensor-based solution used to identify objects in the periphery of the mirrors or bumper of the vehicle. It consists of various embedded sensors that send out electromagnetic waves or computer-processed images through a digital camera. Some of the commonly used BSD sensors include radar-, ultrasonic- and light detection and ranging (LiDAR)-based sensors. Upon detecting a stationary or moving object, the system generates tactile, audible, vibrating or visual signals to warn the driver. As a result, the system is widely used in passenger cars and light, medium and heavy commercial vehicles.
The growing automotive industry across the globe represents one of the key factors creating a positive outlook for the market. Furthermore, the increasing utilization of innovative tools and systems to minimize the instances of vehicle collisions and accidents is providing a thrust to the market growth. With the growing demand for luxury vehicles, automobile manufacturers are integrating various advanced safety features, such as pedestrian detection and BSD systems, for enhanced object detection and cross-traffic alerts. In line with this, widespread adoption of radar-based BSD systems in commercial vehicles for long, medium and short-range object detection is also favoring the market growth. Additionally, various technological advancements, such as the development of smart mirrors and multicamera systems, are acting as other growth-inducing factors. These systems are usually combined with the existing infotainment screens and use ultrasonic waves that work in extreme weather conditions with high accuracy. Other factors, including the implementation of stringent government policies to enhance road and passenger safety, along with rising expenditure capacities of individuals, are anticipated to drive the market further. Looking forward, IMARC Group expects the global automotive blind spot detection system market to continue its strong growth during the next five years.
Figure 11 Global: Automotive Blind Spot Detection System (Commercial Vehicles) Market Forecast: Sales Value (in Million US$), 2020-2025