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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Automotive Blind Spot Detection Market Outlook
The global automotive blind spot detection market stood at a value of USD 4.66 billion in 2023. The market is further expected to grow at a CAGR of 9.4% in the forecast period of 2024-2032 to attain a value of USD 10.45 billion by 2032.
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Heightened Demand for Passenger Vehicles to Strengthen the Market Growth of the Global Automotive Blind Spot Detection Industry
Based on vehicle type, the passenger vehicle segment is predicted to hold a significant market share in the automotive blind spot detection industry. This growth can be attributed to the rising global population and the subsequent demand for transportation worldwide.
In addition, the growing demand for safety in passenger vehicles is anticipated to aid the market growth in the coming years. Meanwhile, the commercial vehicle segment is projected to positively impact the market growth, as commercial vehicles are large, and, therefore, suffer from poor visibility. In this regard, blind spot detection systems can help mitigate the risk of collision and accidents. These factors are expected to contribute to the overall market growth in the forecast period.
The Asia Pacific to Occupy a Substantial Market Share in the Global Automotive Blind Spot Detection Industry
The Asia Pacific is estimated to hold a substantial share of the automotive blind spot detection industry in the forecast period. This growth can be attributed to the presence of the leading market players in the region that are making significant investments to develop enhanced blind spot detection systems. In addition, the growing demand for passenger vehicles with the rising purchasing power, improved living standards, and rapid urbanisation is also anticipated to positively impact the industry growth. Meanwhile, North America is also estimated to account for a healthy market share in the coming years, with the stringent safety regulations imposed by the governments.
Automotive Blind Spot Detection: Market Segmentation
Automotive blind spot detection refers to a sensor based mechanism that helps in blind spot monitoring and informs the driver regarding the presence of any vehicle or obstacle in the vicinity, thus, reducing the risk of any accidents. In addition, blind spot detectors also help while switching lanes by warning the driver of any impending collision through visual, audible, vibration or tactile signal.
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By vehicle type, the market is divided into:
- Passenger Car
- Commercial Vehicle
Based on component type, the market can be categorised into:
- Ultrasonic
- RADAR
- Cameras
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Heightened Demand for Improved Vehicle Safety to Augment the Growth of the Global Automotive Blind Spot Detection Industry
The growing demand for efficient vehicle safety solutions is anticipated to drive the market growth in the forecast period. According to the UN statistics, approximately 1.3 million people succumb to road traffic accidents every year, with around 20-50 million individuals escaping with non-fatal injuries. The blind spot detection systems, in this regard, offer driver assistance facilities that help mitigate the risk of collision by providing timely warnings along with adaptive cruise control. In addition, these systems also offer lane change assistance and 360-degree surveillance through the use of short and mid-range radar sensors. Moreover, the rising disposable income levels, improved standards of living, and the developing automobile infrastructure are also significant factors, which are predicted to propel the industry growth in the forecast period.
Key Industry Players in the Global Automotive Blind Spot Detection Market
The report gives a detailed analysis of the following key players in the global automotive blind spot detection market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Delphi Automotive LLP
- Continental AG
- Robert Bosch GmBH
- ZF Friedrichafen AG
- Autoliv
- Denso Corporation
- Valeo
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Vehicle Type |
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| Breakup by Component Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global automotive blind spot detection market attained a value of nearly USD 4.66 billion.
The market is projected to grow at a CAGR of 9.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 10.45 billion by 2032.
The major drivers of the industry, such as the as increased demand for passenger cars, the rising concerns of road traffic accidents, the rapidly growing global population, growing disposable incomes, rapid technological advancements, and rising investments in the research and development of blind spot detection technology are expected to aid the market growth.
The key market trends guiding the growth of the industry include the increased demand for improved vehicle safety solutions and the developing automobile infrastructure.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant vehicle types include passenger car and commercial vehicle.
The significant component types include ultrasonic, RADAR and cameras.
The major players in the industry are Delphi Automotive LLP, Continental AG, Robert Bosch GmBH, ZF Friedrichafen AG, Autoliv, Denso Corporation, and Valeo, among others.
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