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Allied Market Research

Blind Spot Detection (BSD) System Market by Technology (Radar, Ultrasonic, LIDAR, and Other Sensors), by Sales Channel (OEM and Aftermarket), and by Vehicle Type (Passenger Vehicle, Commercial Vehicle, and Electric Vehicle): Global Opportunity Analysis and Industry Forecast, 2020–2027

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Aug 2021 | 671 Views
   
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Blind Spot Detection (BSD) System Market Outlook – 2027 

The automotive industry has come a long way with technological advancements in improving the safety of the vehicle. Amidst the safety features like seat belts, mirrors, turn signals, and airbags, blind spot detection system has gained significant importance in upgrading the safety level of the vehicle. Blind spot detection system, as the name implies, assist the driver by detecting the vehicles in the blind spot area while changing lanes. Blind spot monitoring system uses electronic devices and sensors for its operation. Radar sensor located at the rear bumper detects a vehicle in adjacent lane and sends this information to driver via electronic devices. Similarly, a BSD warns a driver by flashing a light (often on a rear-view mirror) or by making audible sounds to warn the driver. 

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

  Technology, Sales channel, Vehicle type

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa

  Companies covered

Valeo, Continental AG, Autoliv, Denso, Bosch, Siemens, Mobileye, Delphi, Harman, and Ficosa

 

COVID-19 scenario analysis: 

  • The coronavirus containment measures coupled with other hurdles are weakening the automotive sector.
  • Additionally, economic uncertainties are expected to rise due to the novel coronavirus pandemic. As a result of this, the companies have started salary-cutting and job-layoffs. 
  • The investments have been frozen and the advancements towards newer technologies have stopped. 
  • The demand for unessential and luxury items would reduce owing to economic regression. This would affect the automobile sector and blind spot detection system market simultaneously as it is majorly used in luxury cars

Top impacting factors: market scenario analysis, trends, drivers and impact analysis

Digitization in the automotive sector has enriched the experience of the passengers in vehicles. Increase in use of advanced driver assistance system in vehicles is proliferating the blind spot detection system market. Rise in demand from the consumers for advanced vehicle safety is the major driving factor of the market. Increase in number of accidents caused due to the driver’s inability to judge certain conditions and make the right decisions could increase the sales of blind spot monitoring system. However, the use of radar being illegal in some countries may decrease the sales. Also, slow adoption rate of blind spot monitoring system could hinder its market growth. With investment in R&D for new innovations and changing customer demand is expected to drive the market in the coming years.

The blind spot detection (BSD) system market trends are as follows:

Intelligent blind spot detection system

With heavy investment on development of safety features by automakers, the blind spot detection system is evolving. The new intelligent blind spot detection system features real-time display instead of warning lights or buzzing alarm. Moreover, it uses a system of cameras to display a live camera feed of either the left or right blind spot in the central digital portion of the gauge cluster when the turn signal is activated. Recently, Kia Motors has unveiled its intelligent blind spot detection system in 2020 Kia Telluride.

Blind spot detection system for commercial vehicles

As the blind spots are more in commercial vehicle, Blind spot detection system is of greater use in such applications. Blind spot detection system in commercial vehicle is radar-based system that alerts drivers of the presence of a moving object in a vehicle’s blind spot and mitigates rearward collision to reduce the risk of accidents. Lately, WABCO company has launched its product viz. TailGUARD and OnSide for blind spot detection in commercial vehicles and trailers.

Key segments covered:

Segments

Sub-segments

  Technology

  • Radar
  • Ultrasonic
  • LIDAR
  • Other Sensors

  Sales channel

  • OEM
  • Aftermarket

  Vehicle type

  • Passenger vehicle
  • Commercial vehicle
  • Electric vehicle

 

Key benefits of the report:

  • This study presents the analytical depiction of the Blind Spot Detection (BSD) System industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed Blind Spot Detection (BSD) System market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the Blind Spot Detection (BSD) System Market research report:

  • What are the leading market players active in the Blind Spot Detection (BSD) System market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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