8:39 AM Automotive Blind Spot Detection System Market Size to reach US$ 3.0 billion in 2022 |
| Global blind spot detection system market is projected to witness an impressive double digit CAGR of 12.4% over the next five years and reach US$ 3.0 billion in 2022. Increased demand for safety solutions, the introduction of more stringent government programs, advancement in technology, and increasing production of luxury vehicles are the key factors that are directly contributing to the increasing demand for blind spot detection system in the automotive industry.
Click here to get a Free Sample of the report (with additional insights) Or Read the summary of the report here Automotive Blind Spot Detection System Market Insights: By Vehicle Type: Global automotive blind spot detection system is segmented based on vehicle type: passenger car, light commercial vehicle, and medium & heavy-duty commercial vehicle. The passenger car segment is expected to remain the largest blind spot detection market over the next five years. The vehicle type is also projected to witness the fastest growth in the same period. Increasing demand for active safety systems including blind spot detection in the luxury cars is driving the vehicle segment. All major luxury car manufacturers, such as BMW, Mercedes-Benz, and Audi are incorporating a higher amount of advanced safety features including blind spot detection in their models. By Technology Type: Based on the technology type, the automotive blind spot detection system market is segmented as Radar, Ultrasonic, LIDAR, and Other Sensors. The radar sensor is expected to remain the perennial choice of the sensor in the global automotive blind spot detection system during the forecast period and is also projected to witness the fastest growth in the same period. Radar provides 360-degree coverage around the car, hence, making it the most effective sensor for the blind spot detection system. By Region: Based on the region, the global automotive blind spot detection system market is segmented into four regions as North America, Europe, Asia-Pacific and Rest of the World. Europe and North America are the biggest markets of automotive blind spot detection system as both are the homes of major blind spot detection system manufacturers and manufacturing capitals of luxury cars. Additionally, the introduction of more stringent programs, such as The United States New Car Assessment Program (US NCAP) is supporting the demand for advanced safety features in the automobiles including blind spot detection. Asia-Pacific is projected to witness the fastest growth during the forecast period, driven by Japan, China, and India. Increasing production of luxury vehicles and improving safety standards and measures taken by the government to mitigate road accidents would continue driving the demand for blind spot detection in the region. Click below to run through the detailed ToC of the report Features of the Report This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. Based on the research, a proper report is crafted with the following key features:
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