Blind Spot Detection (BSD) System Market 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): Global Opportunity Analysis and Industry Forecast, 2021-2031
Blind spot detection (BSD) system is a type of advanced driver assistance system which detects objects within a blind spot with the help of unique sensors. Mostly, image sensors are used to transmit an image to the monitor to provide vital information to the driver. These sensors initiate an alarm after sensing the presence of an object within the blind spot. Moreover, different automobile companies have other names for BSD system such as blind-spot monitoring, and blind-spot information system. Furthermore, the purpose of blind spot detection system is to increase safety by reducing the risk of collisions caused by drivers and to reduce the frequency of accidents.
Features such as long range, unlimited potential to extend functions such as stop-and-go support in other applications, and excellent performance in range & angle or angle measurement have increased the adoption of radar sensors. The 24 GHz radar sensors are widely used in the high-volume industry segments due to their low cost. However, the prices are expected to decrease due to the continuing efforts by manufacturers across the globe and supportive government initiatives, especially in regions such as Japan, the U.S., and Europe. The technology has witnessed remarkable commercial demand and adoption in the global market, as it is cost-effective and thus widely used in medium range cars. These competent factors are expected to drive the growth of the blind spot detection system market during the forecast period.
The growth of the global blind spot detection system market is propelling, due to high demand for safety features, stringent safety rules and regulations, and increased demand for comfort while driving. However, high initial cost and complex structure, and lower efficiency in bad weather conditions are the factors hampering the growth of the market. Furthermore, technological advancements are the factor expected to offer growth opportunities during the forecast period.
The blind spot detection system market is segmented on the basis of technology, vehicle type, vehicle propulsion, sales channel, and region. By technology, it is segmented into ultrasound, radar, and camera. By vehicle type, it is classified into passenger cars, light commercial vehicles, and heavy commercial vehicles. By vehicle propulsion, it is fragmented into ICE and electric. By sales channel, it is categorized into OEM and aftermarket. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the blind spot detection (BSD) system market analysis from 2021 to 2031 to identify the prevailing blind spot detection (BSD) system market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the blind spot detection (BSD) system market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global blind spot detection (BSD) system market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology
Ultrasound
Radar
Camera
By Vehicle Type
Heavy Commercial Vehicles
Passenger Cars
Light Commercial Vehicles
By Vehicle Propulsion
ICE
Electric
By Sales Channel
OEM
Aftermarket
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Russia
Rest Of Europe
Asia-Pacific
China
Japan
India
Australia
Rest Of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Continental AG
Bosch Mobility Solutions
VBOX Automotive
Hyundai Mobis
Autoliv, Inc.
Delphi Technologies
Denso Corporation
Ficosa International SA
Preco Electronics
Valeo Group
Xiamen Autostar Electronics Co., Ltd.
Magna International Inc.
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