PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1351101
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1351101
Automotive Blind Spot Detection System Market Forecasts to 2030 - Global Analysis By Vehicle Type (Commercial Vehicle, Passenger Cars and Other Vehicle Types), Component, Sales Channel and By Geography
According to Stratistics MRC, the Global Automotive Blind Spot Detection System Market is accounted for $7.2 billion in 2023 and is expected to reach $27.1 billion by 2030 growing at a CAGR of 20.7% during the forecast period. A safety feature called Blind Spot Detection (BSD) uses sensors to identify objects and pedestrians in and around moving cars. Incorrectly positioned rear view mirrors and headrests, window pillars, and seated passengers all contribute to blind spots. Any impediment that is not visible to the driver is alerted to by a blind spot detection system. The warning signal is produced in a variety of ways, including the steering shaking, a faint pulsing sound inside the driver's cabin, and a light flashing on the infotainment screen or the instrument cluster.
According to the World Health Organization (WHO), about 1.25 million people die each year in road accidents.
Market Dynamics:
Driver:
Increasing use of connected car technology
Vehicle connectivity is crucial to the development of automotive blind spot detection technology. This device assists in preventing blind spot collisions by providing real-time information on the presence of other vehicles in nearby lanes. Automotive blind spot detection systems make use of connected car technologies like joint perception, data analytics, and vehicle-to-vehicle communication. As a result, the system is better able to identify patterns, anticipate risks, and uncover blind spots. A key trend in this industry is the introduction of such cutting-edge technology.
Restraint:
Installation of blind spot detection sensor
Radar sensors behind the back bumper are the main technology used by blind spot monitoring systems. The amount of time it takes for the radio waves to return provides details on the structure of the object, including its size, distance from other moving objects, and direction of travel. However, other materials, like bumper repair material in the sensor's field of vision, may cause the radio waves to travel more slowly. Radar device readings may become erroneous as a result of this. This factor is limiting market expansion.
Opportunity:
Increased need for safety features
The need for safety technologies including lane departure alerts, parking assistance, collision avoidance systems, traction control, electronic stability control, tire pressure monitors, airbags, and telematics is on the rise as the incidence of traffic incidents increases globally. Depending on the traffic conditions, these systems can also automatically slow down or stop the car. Additionally, it has been noted that the death rates from traffic accidents have increased dramatically.
Threat:
Expensive upfront and complicated framework
It is anticipated that the high cost of implementing apps in vehicles will slow industry expansion. The cost of cars is rising as a result of factors including the higher installation costs for blind spot detection systems. Due to the vehicles numerous electrical parts and sensors, servicing it is very challenging and demands expert personnel. Systems with complex architectures have shorter shelf lives. Therefore, it is anticipated that the market's growth will be significantly impacted by the high starting cost and complex structure.
COVID-19 Impact:
The COVID-19 epidemic had a significant negative impact on the global auto industry. Several countries implemented nationwide lockdown measures to halt the virus' spread. Strict social segregation rules and state-wide lockdowns forced the closure of many OEM facilities, which also interrupted the flow of raw materials and had an indirect or direct impact on thousands of dependent workers and the industry. The need for autos was also significantly reduced by lockdowns, unemployment, and income decreases. As a result, the consumer's purchasing power has also been significantly reduced.
The passenger vehicle segment is expected to be the largest during the forecast period
The passenger vehicle segment is expected to be the largest during the forecast period. e increasing number of people on the planet and the resulting demand for transportation are to blame for this rise. The industry is expanding as a result of strict government laws requiring automobiles to be equipped with driver assistance systems that increase vehicle safety. Additionally, it is projected that rising consumer demand for passenger vehicle safety will support market expansion.
The radar segment is expected to have the highest CAGR during the forecast period
The radar segment is expected to have the highest CAGR during the forecast period due to its precise operation. Rising demand for automotive safety installations will help maintain RADAR's dominance throughout the forecast period. It uses radio waves that can be easily transmitted through the atmosphere. Automotive radar is, therefore, primarily used for object detection applications.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. Authorities in this region have tightened the requirements for vehicle ratings, putting manufacturers under pressure to build cars that adhere to strict safety regulations. In the automotive industry, the use of sensor-based technology is growing. As a result, over the projection period, there will be a rise in demand for sophisticated driver assistance systems.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. This growth can be attributed to the presence of the leading market players in the region that are making significant investments to develop enhanced blind spot detection systems. In addition, the growing demand for passenger vehicles with the rising purchasing power, improved living standards, and rapid urbanisation is also anticipated to positively impact the industry growth.
Key players in the market:
Some of the key players in Automotive Blind Spot Detection System market include: Smart Microwave Sensors GmbH, Robert Bosch GmbH, Porsche, Texas Instruments Incorporated, Continental AG, Gentex, Denso Corporation, Preco Electronics, Magna International Inc., Tata Motors, Infineon Technologies AG, NXP Semiconductors, Infineon Technologies AG, SerVision and Xiamen Autostar Electronics Co.
Key Developments:
In May 2023, Porsche announced a partnership with Israel-based company Mobileye to integrate advanced driver assistance technology. As part of the partnership, Porsche will integrate Mobileye's advanced SuperVision driver assistance system into future models.
In February 2023, Tata Motors launched the latest dark edition of compact SUV namely Harrier and Safari which is a SUV; to the Indian market. The Harrier and Safari dark edition are equipped with Advanced Driver Assistance System (ADAS).
In January 2023, NXP Semiconductors released an advanced automotive 28nm RFCMOS radar-on-chip family for next-generation ADAS and autonomous driving systems.
Vehicle Types Covered:
- Commercial Vehicle
- Passenger Cars
- Other Vehicle Types
Components Covered:
- RADAR
- Ultrasonic
- Camera
- Other Components
Sales Channels Covered:
- Aftermarket
- Original Equipment Manufacturers (OEM)
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Emerging Markets
- 3.7 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Automotive Blind Spot Detection System Market, By Vehicle Type
- 5.1 Introduction
- 5.2 Commercial Vehicle
- 5.3 Passenger Cars
- 5.4 Other Vehicle Types
6 Global Automotive Blind Spot Detection System Market, By Component
- 6.1 Introduction
- 6.2 RADAR
- 6.3 Ultrasonic
- 6.4 Camera
- 6.5 Other Components
7 Global Automotive Blind Spot Detection System Market, By Sales Channel
- 7.1 Introduction
- 7.2 Aftermarket
- 7.3 Original Equipment Manufacturers (OEM)
8 Global Automotive Blind Spot Detection System Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Smart Microwave Sensors GmbH
- 10.2 Robert Bosch GmbH
- 10.3 Porsche
- 10.4 Texas Instruments Incorporated
- 10.5 Continental AG
- 10.6 Gentex
- 10.7 Denso Corporation
- 10.8 Preco Electronics
- 10.9 Magna International Inc.
- 10.10 Tata Motors
- 10.11 Infineon Technologies AG
- 10.12 NXP Semiconductors
- 10.13 Infineon Technologies AG
- 10.14 SerVision
- 10.15 Xiamen Autostar Electronics Co.
List of Tables
- Table 1 Global Automotive Blind Spot Detection System Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Automotive Blind Spot Detection System Market Outlook, By Vehicle Type (2021-2030) ($MN)
- Table 3 Global Automotive Blind Spot Detection System Market Outlook, By Commercial Vehicle (2021-2030) ($MN)
- Table 4 Global Automotive Blind Spot Detection System Market Outlook, By Passenger Cars (2021-2030) ($MN)
- Table 5 Global Automotive Blind Spot Detection System Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
- Table 6 Global Automotive Blind Spot Detection System Market Outlook, By Component (2021-2030) ($MN)
- Table 7 Global Automotive Blind Spot Detection System Market Outlook, By RADAR (2021-2030) ($MN)
- Table 8 Global Automotive Blind Spot Detection System Market Outlook, By Ultrasonic (2021-2030) ($MN)
- Table 9 Global Automotive Blind Spot Detection System Market Outlook, By Camera (2021-2030) ($MN)
- Table 10 Global Automotive Blind Spot Detection System Market Outlook, By Other Components (2021-2030) ($MN)
- Table 11 Global Automotive Blind Spot Detection System Market Outlook, By Sales Channel (2021-2030) ($MN)
- Table 12 Global Automotive Blind Spot Detection System Market Outlook, By Aftermarket (2021-2030) ($MN)
- Table 13 Global Automotive Blind Spot Detection System Market Outlook, By Original Equipment Manufacturers (OEM) (2021-2030) ($MN)
- Table 14 North America Automotive Blind Spot Detection System Market Outlook, By Country (2021-2030) ($MN)
- Table 15 North America Automotive Blind Spot Detection System Market Outlook, By Vehicle Type (2021-2030) ($MN)
- Table 16 North America Automotive Blind Spot Detection System Market Outlook, By Commercial Vehicle (2021-2030) ($MN)
- Table 17 North America Automotive Blind Spot Detection System Market Outlook, By Passenger Cars (2021-2030) ($MN)
- Table 18 North America Automotive Blind Spot Detection System Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
- Table 19 North America Automotive Blind Spot Detection System Market Outlook, By Component (2021-2030) ($MN)
- Table 20 North America Automotive Blind Spot Detection System Market Outlook, By RADAR (2021-2030) ($MN)
- Table 21 North America Automotive Blind Spot Detection System Market Outlook, By Ultrasonic (2021-2030) ($MN)
- Table 22 North America Automotive Blind Spot Detection System Market Outlook, By Camera (2021-2030) ($MN)
- Table 23 North America Automotive Blind Spot Detection System Market Outlook, By Other Components (2021-2030) ($MN)
- Table 24 North America Automotive Blind Spot Detection System Market Outlook, By Sales Channel (2021-2030) ($MN)
- Table 25 North America Automotive Blind Spot Detection System Market Outlook, By Aftermarket (2021-2030) ($MN)
- Table 26 North America Automotive Blind Spot Detection System Market Outlook, By Original Equipment Manufacturers (OEM) (2021-2030) ($MN)
- Table 27 Europe Automotive Blind Spot Detection System Market Outlook, By Country (2021-2030) ($MN)
- Table 28 Europe Automotive Blind Spot Detection System Market Outlook, By Vehicle Type (2021-2030) ($MN)
- Table 29 Europe Automotive Blind Spot Detection System Market Outlook, By Commercial Vehicle (2021-2030) ($MN)
- Table 30 Europe Automotive Blind Spot Detection System Market Outlook, By Passenger Cars (2021-2030) ($MN)
- Table 31 Europe Automotive Blind Spot Detection System Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
- Table 32 Europe Automotive Blind Spot Detection System Market Outlook, By Component (2021-2030) ($MN)
- Table 33 Europe Automotive Blind Spot Detection System Market Outlook, By RADAR (2021-2030) ($MN)
- Table 34 Europe Automotive Blind Spot Detection System Market Outlook, By Ultrasonic (2021-2030) ($MN)
- Table 35 Europe Automotive Blind Spot Detection System Market Outlook, By Camera (2021-2030) ($MN)
- Table 36 Europe Automotive Blind Spot Detection System Market Outlook, By Other Components (2021-2030) ($MN)
- Table 37 Europe Automotive Blind Spot Detection System Market Outlook, By Sales Channel (2021-2030) ($MN)
- Table 38 Europe Automotive Blind Spot Detection System Market Outlook, By Aftermarket (2021-2030) ($MN)
- Table 39 Europe Automotive Blind Spot Detection System Market Outlook, By Original Equipment Manufacturers (OEM) (2021-2030) ($MN)
- Table 40 Asia Pacific Automotive Blind Spot Detection System Market Outlook, By Country (2021-2030) ($MN)
- Table 41 Asia Pacific Automotive Blind Spot Detection System Market Outlook, By Vehicle Type (2021-2030) ($MN)
- Table 42 Asia Pacific Automotive Blind Spot Detection System Market Outlook, By Commercial Vehicle (2021-2030) ($MN)
- Table 43 Asia Pacific Automotive Blind Spot Detection System Market Outlook, By Passenger Cars (2021-2030) ($MN)
- Table 44 Asia Pacific Automotive Blind Spot Detection System Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
- Table 45 Asia Pacific Automotive Blind Spot Detection System Market Outlook, By Component (2021-2030) ($MN)
- Table 46 Asia Pacific Automotive Blind Spot Detection System Market Outlook, By RADAR (2021-2030) ($MN)
- Table 47 Asia Pacific Automotive Blind Spot Detection System Market Outlook, By Ultrasonic (2021-2030) ($MN)
- Table 48 Asia Pacific Automotive Blind Spot Detection System Market Outlook, By Camera (2021-2030) ($MN)
- Table 49 Asia Pacific Automotive Blind Spot Detection System Market Outlook, By Other Components (2021-2030) ($MN)
- Table 50 Asia Pacific Automotive Blind Spot Detection System Market Outlook, By Sales Channel (2021-2030) ($MN)
- Table 51 Asia Pacific Automotive Blind Spot Detection System Market Outlook, By Aftermarket (2021-2030) ($MN)
- Table 52 Asia Pacific Automotive Blind Spot Detection System Market Outlook, By Original Equipment Manufacturers (OEM) (2021-2030) ($MN)
- Table 53 South America Automotive Blind Spot Detection System Market Outlook, By Country (2021-2030) ($MN)
- Table 54 South America Automotive Blind Spot Detection System Market Outlook, By Vehicle Type (2021-2030) ($MN)
- Table 55 South America Automotive Blind Spot Detection System Market Outlook, By Commercial Vehicle (2021-2030) ($MN)
- Table 56 South America Automotive Blind Spot Detection System Market Outlook, By Passenger Cars (2021-2030) ($MN)
- Table 57 South America Automotive Blind Spot Detection System Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
- Table 58 South America Automotive Blind Spot Detection System Market Outlook, By Component (2021-2030) ($MN)
- Table 59 South America Automotive Blind Spot Detection System Market Outlook, By RADAR (2021-2030) ($MN)
- Table 60 South America Automotive Blind Spot Detection System Market Outlook, By Ultrasonic (2021-2030) ($MN)
- Table 61 South America Automotive Blind Spot Detection System Market Outlook, By Camera (2021-2030) ($MN)
- Table 62 South America Automotive Blind Spot Detection System Market Outlook, By Other Components (2021-2030) ($MN)
- Table 63 South America Automotive Blind Spot Detection System Market Outlook, By Sales Channel (2021-2030) ($MN)
- Table 64 South America Automotive Blind Spot Detection System Market Outlook, By Aftermarket (2021-2030) ($MN)
- Table 65 South America Automotive Blind Spot Detection System Market Outlook, By Original Equipment Manufacturers (OEM) (2021-2030) ($MN)
- Table 66 Middle East & Africa Automotive Blind Spot Detection System Market Outlook, By Country (2021-2030) ($MN)
- Table 67 Middle East & Africa Automotive Blind Spot Detection System Market Outlook, By Vehicle Type (2021-2030) ($MN)
- Table 68 Middle East & Africa Automotive Blind Spot Detection System Market Outlook, By Commercial Vehicle (2021-2030) ($MN)
- Table 69 Middle East & Africa Automotive Blind Spot Detection System Market Outlook, By Passenger Cars (2021-2030) ($MN)
- Table 70 Middle East & Africa Automotive Blind Spot Detection System Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
- Table 71 Middle East & Africa Automotive Blind Spot Detection System Market Outlook, By Component (2021-2030) ($MN)
- Table 72 Middle East & Africa Automotive Blind Spot Detection System Market Outlook, By RADAR (2021-2030) ($MN)
- Table 73 Middle East & Africa Automotive Blind Spot Detection System Market Outlook, By Ultrasonic (2021-2030) ($MN)
- Table 74 Middle East & Africa Automotive Blind Spot Detection System Market Outlook, By Camera (2021-2030) ($MN)
- Table 75 Middle East & Africa Automotive Blind Spot Detection System Market Outlook, By Other Components (2021-2030) ($MN)
- Table 76 Middle East & Africa Automotive Blind Spot Detection System Market Outlook, By Sales Channel (2021-2030) ($MN)
- Table 77 Middle East & Africa Automotive Blind Spot Detection System Market Outlook, By Aftermarket (2021-2030) ($MN)
- Table 78 Middle East & Africa Automotive Blind Spot Detection System Market Outlook, By Original Equipment Manufacturers (OEM) (2021-2030) ($MN)
