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.
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.
Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: BLIND SPOT DETECTION (BSD) SYSTEM MARKET, BY TECHNOLOGY
4.1 Overview
4.1.1 Market size and forecast
4.2 Ultrasound
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Radar
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Camera
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
CHAPTER 5: BLIND SPOT DETECTION (BSD) SYSTEM MARKET, BY VEHICLE TYPE
5.1 Overview
5.1.1 Market size and forecast
5.2 Passenger Cars
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Light Commercial Vehicles
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Heavy Commercial Vehicles
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
CHAPTER 6: BLIND SPOT DETECTION (BSD) SYSTEM MARKET, BY VEHICLE PROPULSION
6.1 Overview
6.1.1 Market size and forecast
6.2 ICE
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Electric
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
CHAPTER 7: BLIND SPOT DETECTION (BSD) SYSTEM MARKET, BY SALES CHANNEL
7.1 Overview
7.1.1 Market size and forecast
7.2 OEM
7.2.1 Key market trends, growth factors and opportunities
7.2.2 Market size and forecast, by region
7.2.3 Market analysis by country
7.3 Aftermarket
7.3.1 Key market trends, growth factors and opportunities
7.3.2 Market size and forecast, by region
7.3.3 Market analysis by country
CHAPTER 8: BLIND SPOT DETECTION (BSD) SYSTEM MARKET, BY REGION
8.1 Overview
8.1.1 Market size and forecast
8.2 North America
8.2.1 Key trends and opportunities
8.2.2 North America Market size and forecast, by Technology
8.2.3 North America Market size and forecast, by Vehicle Type
8.2.4 North America Market size and forecast, by Vehicle Propulsion
8.2.5 North America Market size and forecast, by Sales Channel
8.2.6 North America Market size and forecast, by country
8.2.6.1 U. S.
8.2.6.1.1 Market size and forecast, by Technology
8.2.6.1.2 Market size and forecast, by Vehicle Type
8.2.6.1.3 Market size and forecast, by Vehicle Propulsion
8.2.6.1.4 Market size and forecast, by Sales Channel
8.2.6.2 Canada
8.2.6.2.1 Market size and forecast, by Technology
8.2.6.2.2 Market size and forecast, by Vehicle Type
8.2.6.2.3 Market size and forecast, by Vehicle Propulsion
8.2.6.2.4 Market size and forecast, by Sales Channel
8.2.6.3 Mexico
8.2.6.3.1 Market size and forecast, by Technology
8.2.6.3.2 Market size and forecast, by Vehicle Type
8.2.6.3.3 Market size and forecast, by Vehicle Propulsion
8.2.6.3.4 Market size and forecast, by Sales Channel
8.3 Europe
8.3.1 Key trends and opportunities
8.3.2 Europe Market size and forecast, by Technology
8.3.3 Europe Market size and forecast, by Vehicle Type
8.3.4 Europe Market size and forecast, by Vehicle Propulsion
8.3.5 Europe Market size and forecast, by Sales Channel
8.3.6 Europe Market size and forecast, by country
8.3.6.1 Germany
8.3.6.1.1 Market size and forecast, by Technology
8.3.6.1.2 Market size and forecast, by Vehicle Type
8.3.6.1.3 Market size and forecast, by Vehicle Propulsion
8.3.6.1.4 Market size and forecast, by Sales Channel
8.3.6.2 France
8.3.6.2.1 Market size and forecast, by Technology
8.3.6.2.2 Market size and forecast, by Vehicle Type
8.3.6.2.3 Market size and forecast, by Vehicle Propulsion
8.3.6.2.4 Market size and forecast, by Sales Channel
8.3.6.3 UK
8.3.6.3.1 Market size and forecast, by Technology
8.3.6.3.2 Market size and forecast, by Vehicle Type
8.3.6.3.3 Market size and forecast, by Vehicle Propulsion
8.3.6.3.4 Market size and forecast, by Sales Channel
8.3.6.4 Russia
8.3.6.4.1 Market size and forecast, by Technology
8.3.6.4.2 Market size and forecast, by Vehicle Type
8.3.6.4.3 Market size and forecast, by Vehicle Propulsion
8.3.6.4.4 Market size and forecast, by Sales Channel
8.3.6.5 Rest of Europe
8.3.6.5.1 Market size and forecast, by Technology
8.3.6.5.2 Market size and forecast, by Vehicle Type
8.3.6.5.3 Market size and forecast, by Vehicle Propulsion
8.3.6.5.4 Market size and forecast, by Sales Channel
8.4 Asia-Pacific
8.4.1 Key trends and opportunities
8.4.2 Asia-Pacific Market size and forecast, by Technology
8.4.3 Asia-Pacific Market size and forecast, by Vehicle Type
8.4.4 Asia-Pacific Market size and forecast, by Vehicle Propulsion
8.4.5 Asia-Pacific Market size and forecast, by Sales Channel
8.4.6 Asia-Pacific Market size and forecast, by country
8.4.6.1 China
8.4.6.1.1 Market size and forecast, by Technology
8.4.6.1.2 Market size and forecast, by Vehicle Type
8.4.6.1.3 Market size and forecast, by Vehicle Propulsion
8.4.6.1.4 Market size and forecast, by Sales Channel
8.4.6.2 Japan
8.4.6.2.1 Market size and forecast, by Technology
8.4.6.2.2 Market size and forecast, by Vehicle Type
8.4.6.2.3 Market size and forecast, by Vehicle Propulsion
8.4.6.2.4 Market size and forecast, by Sales Channel
8.4.6.3 India
8.4.6.3.1 Market size and forecast, by Technology
8.4.6.3.2 Market size and forecast, by Vehicle Type
8.4.6.3.3 Market size and forecast, by Vehicle Propulsion
8.4.6.3.4 Market size and forecast, by Sales Channel
8.4.6.4 Australia
8.4.6.4.1 Market size and forecast, by Technology
8.4.6.4.2 Market size and forecast, by Vehicle Type
8.4.6.4.3 Market size and forecast, by Vehicle Propulsion
8.4.6.4.4 Market size and forecast, by Sales Channel
8.4.6.5 Rest of Asia-Pacific
8.4.6.5.1 Market size and forecast, by Technology
8.4.6.5.2 Market size and forecast, by Vehicle Type
8.4.6.5.3 Market size and forecast, by Vehicle Propulsion
8.4.6.5.4 Market size and forecast, by Sales Channel
8.5 LAMEA
8.5.1 Key trends and opportunities
8.5.2 LAMEA Market size and forecast, by Technology
8.5.3 LAMEA Market size and forecast, by Vehicle Type
8.5.4 LAMEA Market size and forecast, by Vehicle Propulsion
8.5.5 LAMEA Market size and forecast, by Sales Channel
8.5.6 LAMEA Market size and forecast, by country
8.5.6.1 Latin America
8.5.6.1.1 Market size and forecast, by Technology
8.5.6.1.2 Market size and forecast, by Vehicle Type
8.5.6.1.3 Market size and forecast, by Vehicle Propulsion
8.5.6.1.4 Market size and forecast, by Sales Channel
8.5.6.2 Middle East
8.5.6.2.1 Market size and forecast, by Technology
8.5.6.2.2 Market size and forecast, by Vehicle Type
8.5.6.2.3 Market size and forecast, by Vehicle Propulsion
8.5.6.2.4 Market size and forecast, by Sales Channel
8.5.6.3 Africa
8.5.6.3.1 Market size and forecast, by Technology
8.5.6.3.2 Market size and forecast, by Vehicle Type
8.5.6.3.3 Market size and forecast, by Vehicle Propulsion
8.5.6.3.4 Market size and forecast, by Sales Channel
CHAPTER 9: COMPANY LANDSCAPE
9.1. Introduction
9.2. Top winning strategies
9.3. Product Mapping of Top 10 Players
9.4. Competitive Dashboard
9.5. Competitive Heatmap
9.6. Key developments
CHAPTER 10: COMPANY PROFILES
10.1 Continental AG
10.1.1 Company overview
10.1.2 Company snapshot
10.1.3 Operating business segments
10.1.4 Product portfolio
10.1.5 Business performance
10.1.6 Key strategic moves and developments
10.2 Bosch Mobility Solutions
10.2.1 Company overview
10.2.2 Company snapshot
10.2.3 Operating business segments
10.2.4 Product portfolio
10.2.5 Business performance
10.2.6 Key strategic moves and developments
10.3 VBOX Automotive
10.3.1 Company overview
10.3.2 Company snapshot
10.3.3 Operating business segments
10.3.4 Product portfolio
10.3.5 Business performance
10.3.6 Key strategic moves and developments
10.4 Hyundai Mobis
10.4.1 Company overview
10.4.2 Company snapshot
10.4.3 Operating business segments
10.4.4 Product portfolio
10.4.5 Business performance
10.4.6 Key strategic moves and developments
10.5 Autoliv, Inc.
10.5.1 Company overview
10.5.2 Company snapshot
10.5.3 Operating business segments
10.5.4 Product portfolio
10.5.5 Business performance
10.5.6 Key strategic moves and developments
10.6 Delphi Technologies
10.6.1 Company overview
10.6.2 Company snapshot
10.6.3 Operating business segments
10.6.4 Product portfolio
10.6.5 Business performance
10.6.6 Key strategic moves and developments
10.7 Denso Corporation
10.7.1 Company overview
10.7.2 Company snapshot
10.7.3 Operating business segments
10.7.4 Product portfolio
10.7.5 Business performance
10.7.6 Key strategic moves and developments
10.8 Ficosa International SA
10.8.1 Company overview
10.8.2 Company snapshot
10.8.3 Operating business segments
10.8.4 Product portfolio
10.8.5 Business performance
10.8.6 Key strategic moves and developments
10.9 Preco Electronics
10.9.1 Company overview
10.9.2 Company snapshot
10.9.3 Operating business segments
10.9.4 Product portfolio
10.9.5 Business performance
10.9.6 Key strategic moves and developments
10.10 Valeo Group
10.10.1 Company overview
10.10.2 Company snapshot
10.10.3 Operating business segments
10.10.4 Product portfolio
10.10.5 Business performance
10.10.6 Key strategic moves and developments
10.11 Xiamen Autostar Electronics Co., Ltd.
10.11.1 Company overview
10.11.2 Company snapshot
10.11.3 Operating business segments
10.11.4 Product portfolio
10.11.5 Business performance
10.11.6 Key strategic moves and developments
10.12 Magna International Inc.
10.12.1 Company overview
10.12.2 Company snapshot
10.12.3 Operating business segments
10.12.4 Product portfolio
10.12.5 Business performance
10.12.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Blind Spot Detection (BSD) System Market,' the blind spot detection (bsd) system market was valued at $3.9 billion in 2021, and is estimated to reach $13.7 billion by 2031, growing at a CAGR of 13.7% from 2022 to 2031.Europe is expected to dominate the global blind spot detection system market. Technical developments for efficient enforcement of safety features and better drive quality lead toward the growth of the automotive industry. With the rise in popularity of autonomous driving, the adoption of BSD has increased in safety systems of automobiles. The presence of supportive legislations, and cost-effective vehicles fuel the use of safety systems in cars to improve safety and comfort.
Automotive manufacturers in the region have focused on reducing road fatalities by adopting various safety ensuring programs such as eSafety Aware and other informative campaigns. Automotive electronics manufacturers have prioritized the development of infrared cameras to develop better vision assisting systems for cars. The demand for electronic equipment has rapidly increased to improve driving and vehicle safety.
Increase in the demand for light commercial vehicle mainly for the purpose of carrying cargo leads to the growth of the industry. This segment is considered to be a fast-growing vehicle type in the market due to its vital role in the transportation industry. With the advancement in technology and the mandatory regulations toward blind spot detection system to be installed in the vehicles is leading to the growth of the market as users are now more concerned towards the safety of the people, vehicle, and the cargo they carry.
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.
COVID-19 Impact Analysis
The spread of the COVID-19 pandemic has negatively impacted the blind spot detection system market, owing to commute restrictions, and is expected to weaken the financial performance of the market players. It has impacted the overall economy, and contributors such as market participants are formulating strategic cost-saving plans.The sale of blind spot detection system is directly associated with automotive production and sales activities across the globe. The global automotive production has witnessed decline by 16% in 2020 as compared to automotive production in 2019. Moreover, the global sales of automotive has witnessed drop by around 14% (Y-o-Y) from 90.42 million units in 2019 to 77.97 million units in 2020.
However, during the pandemic period, few companies also introduced new sensors to enhance advanced driver assistance systems (ADAS) in vehicles. For instance, in November 2020, Velodyne Lidar Inc., introduced its solid state Velarray H800 sensor. This new sensor is designed for safe navigation and collision avoidance in ADAS and autonomous mobility applications. The Velarray H800 can aid automakers to design ADAS solutions which will aid in reducing traffic accidents as well as injuries and deaths of driver, bicyclists, passengers and pedestrians.
KEY FINDINGS OF THE STUDY
By technology, the camera segment is anticipated to exhibit significant growth in the near future.By vehicle type, the heavy commercial vehicles segment is anticipated to exhibit significant growth in the near future.
By vehicle propulsion, the electric segment is anticipated to exhibit significant growth in the near future.
By sales channel, the OEM segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Key players operating in the global blind spot detection system market include Autoliv, Inc., Borgwarner Inc., Continental AG, Denso Corporation, Hyundai Mobis, Magna International Inc., Panasonic (Ficosa International), Robert Bosch GmbH, Sensata Technologies, Valeo SA, VBOX Automotive, and Xiamen Autostar Electronic Inc.
Companies Mentioned
- 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.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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