The blind spot detection market is projected to grow from USD 2,464.90 million in 2023 to USD 9,058.10 million by 2033, with a CAGR of 13.90% during this period.
The increasing preference among automotive consumers for enhanced safety features is driving demand for blind spot detection technology. Rising disposable incomes and changing consumer preferences for vehicles equipped with safety features, such as blind spot detection systems over wide mirrors, are also contributing to market growth.
Crossover and SUV vehicles, which have larger blind spots compared to sedans and hatchbacks, are particularly fueling the demand for BSD systems. The automotive industry is collaborating with major technology companies to remain competitive by offering advanced, safe, and comfortable vehicles, further benefiting the blind spot detection market.
Stricter safety regulations by governments and the adoption of advanced driver assistance systems (ADAS) to reduce road accidents are key factors boosting the demand for blind spot detection systems. Additionally, growth in the automotive market, particularly in emerging economies, is expanding the customer base for these systems.Bottom of Form
Key Takeaways
- In 2022, the blind spot detection market was valued at US$ 2,164.10 million.
- Based on sales channel, the OEM segment is expected to account for a share of 92% in 2023.
- Based on technology, camera segments account for a market share of 41.76%
- Global blind spot detection demand in China is predicted to account for a CAGR of 13.40% through 2033.
- Bags in the United States is expected to account for a CAGR of 14.0% between 2023 and 2033.
- Germany is projected to expand by a value CAGR of 15.2% between 2023 and 2033.
- By 2033, the blind spot detection market in India is anticipated to record a CAGR of 13.70% during the forecast period.
Competitive Landscape
The overall market is highly fragmented, with several competitors in the surgical blind spot detection sphere. To meet consumer demand and expand their customer base, these companies are implementing methods such as mergers and acquisitions, partnerships and collaborations, and new product launches.
- Bosch is a major player in the automotive technology industry, offering a range of ADAS solutions, including blind spot detection systems. They provide radar and camera-based systems that help enhance vehicle safety.
- Magna is a global automotive supplier known for its ADAS and vehicle safety technologies innovations. They offer a range of solutions, including blind spot detection systems.
- Visteon Corporation is a technology company specializing in automotive cockpit electronics and ADAS solutions. They provide a range of sensor-based systems, including blind spot detection.
- Denso Corporation is a leading automotive component manufacturer, and they develop a variety of ADAS technologies, including blind spot detection systems.
Key Players in the Blind Spot Detection Market
- Continental AG
- ZF Friedrichshafen AG
- DENSO Corporation
- Mobileye
- Aptiv Plc
- Veoneer Inc.
- Autoliv Inc.
- Valeo SA
- Magna International
- Aisin Seiki Co. Ltd.
Blind Spot Detection Market by Category
By Technology:
- Ultrasonic Sensor
- Lidar Sensor
- Radar Sensor
- Camera Sensor
- Infrared Sensor
- Pressure Sensor
By Sales Channel:
- Original Equipment Manufacturer (OEM)
- Aftermarket
By Vehicle Type:
- Passenger Vehicle
- Heavy Commercial Vehicle
- Light Commercial Vehicle
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/blind-spot-detection-market
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