Automotive Blind Spot Detection System Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Automotive Blind Spot Detection System Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Automotive Blind Spot Detection System Market

The automotive blind spot detection system market size was valued at USD 6.02 billion in 2022, and the market is now projected to grow from USD 7.22 billion in 2023 to USD 23.97 billion by 2030, exhibiting a CAGR of 18.7% during the forecast period of 2024-2032.

The COVID-19 pandemic seriously impacted the car organization, principal to a pointy decline in automobile income inside the second half of 2020. This changed into exacerbated by way of way of strict social distancing guidelines and lockdowns, affecting loads of hooked up people and the employer. However, in 2021, vaccination campaigns and elevated automotive blind spot detection system market growth the global market.

The World Health Organization evaluations that 1.25 million humans die yearly in street injuries. Governments are implementing strict regulations on automakers to enhance protection functions. Leading producers are remodeling motors to reduce blind spot detection areas, reducing the size of the A-pillar and enlarging facet mirrors. Heavy vehicles and trailers have large blind spots, prompting safety regulations from shipping associations and unions. Transport for London announced in February 2023 that all vans over 1 2 tonnes have to have blind spot cameras via 2024.

Connected vehicles are enhancing automotive blind spot detection structures via offering real-time facts about other automobiles in adjacent lanes and preventing injuries. These systems use technologies like vehicle-to-automobile (V2V) communication, automobile-to-infrastructure (V21) conversation, cloud connectivity, joint perception, information analytics, and ML. These technologies process vast amounts of information to recognize patterns, predict risks, and improve blind spot detection accuracy. V21 technology also involves information exchange between vehicles and roadside infrastructure, providing additional data for blind spot visibility.

Comprehensive Analysis of Automotive Blind Spot Detection System Market

The automotive radar market is segmented into ultrasonic, RADAR, and camera types. RADAR is expected to dominate due to its precise operation and rising demand for safety installations. Camera-based BSDs are expected to occupy the second-largest position, with advanced cameras combined with CMOS image sensors. Ultrasonic sensors are expected to show growth, but their accuracy is slow. The passenger cars segment is expected to dominate, driven by stringent government regulations and increasing global vehicle production. Commercial motors with BSD structures are expected to see full-size growth due to the booming e-commerce and logistics industry. Large vehicles, along with vehicles and trailers, have massive blind spots and are specifically at risk of accidents at the rear.

The Asia Pacific region lead the automotive blind spot detection system market share by benefitting a market size of USD 2.91 billion in 2023 due to Asia Pacific presently dominates the vehicle blind spot detection system market. The Asia Pacific market is seeing expansion due to low-cost raw resources and mass manufacturing of technologies. Manufacturers in the region prioritize creating high-end applications to attract customers and acquire a competitive advantage, substantial demand for BSD sensors in North America and Europe has resulted in substantial sales in the Asia-Pacific area. Increased consumer disposable income has shifted automobile purchase preferences from entry-level to mid-range vehicles.

Several notable automobile blind spot detection system firms, such as Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), Aptiv (Ireland), Autoliv Inc. (Sweden), Veoner (Sweden), Valeo SA (France), NXP Semiconductor NV (Netherlands), Texas Instruments Incorporated (U.S.), ZF Friedrichshafen AG (Germany), Infineon Technologies AG (Germany) and SerVision (Israel) leads the worldwide market by strategic decisions, market share dominance, and a strong product portfolio. Four to five important firms with strong regional presence and ongoing R&D have secured regulatory clearances.

In May 2023, Porsche announced a deal with Israel-based business Mobileye to include sophisticated driver assistance technologies. Porsche will include Mobileye's SuperVision driver assistance system onto future models. SuperVision technologies provide hands-free operation in specific use scenarios, including auto lane change, collision avoidance, and blind spot recognition.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 18.7% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Component Type

Ultrasonic

RADAR

Camera

By Vehicle Type

Passenger Cars

Commercial Vehicle

By Geography

North America (By Component Type, By Vehicle Type, By Country)

- U.S. (By Vehicle Type, By Component Type)

- Canada(By Vehicle Type, By Component Type)

- Mexico ( By Vehicle Type, By Component Type)

Europe (By Component Type, By Vehicle Type, By Country)

- U.K. (By Vehicle Type, By Component Type)

- Germany (By Vehicle Type, By Component Type)

- France (By Vehicle Type, By Component Type)

- Rest of Europe (By Vehicle Type, By Component Type)

Asia Pacific (By Component Type, By Vehicle Type, By Country)

- China (By Vehicle Type, By Component Type)

- Japan (By Vehicle Type, By Component Type)

- India (By Vehicle Type, By Component Type)

- South Korea (By Vehicle Type, By Component Type)

- Rest of Asia Pacific (By Vehicle Type, By Component Type)

Rest of the World (By Component Type, By Vehicle Type)


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