Drivers nowadays are getting more concerned about safety features in their vehicles and thus are willing to pay the cost of acquiring safer vehicles. The main threat for a driver on the highway comes from the surrounding vehicles especially when he is not aware of their close presence. The OEMs approaches the problem of blind spot detection in slightly different way, but we can loosely group the new blind spot monitoring solutions into two different categories: Active and Passive. This report analysis the active blind spot monitoring solutions and provides insights about various technologies including LIDAR, RADAR, ultrasonic and various sensors along with the market associated with them.
The global blind spot monitoring systems market is projected to grow at a CAGR of nearly 12.7% in the period between 2019 and 2024. Over the last few years the growth was slow due to the high cost of safety systems and they were primarily installed in premium vehicles. However, in the recent years the growing need for vehicle and passenger safety is making the installation of advanced safety systems a necessity in most vehicles. The growing stringency of government regulations pertaining passenger and vehicle safety is also giving significant boost to this market.
APAC is anticipated to witness the fastest growth in the forecast period, owing to the growing demand in Japan, China, and India. Increasing sales of luxury vehicles and improving safety standards and measures taken by the government to reduce road accidents would continue driving the demand for blind spot detection in this region.
This report ‘Technology, Innovation and Market Report: Automotive Blind Spot Detection Solutions’ provides an extensive analysis of technology prospective which is segmented based upon technology type, product type and vehicle type. This report also comprises of key insights from patent analysis of different companies and universities in this domain. Additionally, the report provides market related insights including the key market trends, current and future market demand and the factors affecting the market along with a detailed competitive landscape.
Continental, Denso, Robert Bosch, Delphi Automotive, and Autoliv are the leading players in global automotive blind spot detection solutions market. Other manufacturers include ZF Friedrichshafen, Magna, Denso and Valeo among various others. New product launches, innovations in technology, and collaboration with OEMs are the key strategies adopted by the key players to gain a competitive edge in the market.
Key purposes of the study: