Automotive Blind Spot Detection System Market estimated to grow at 12.4% CAGR in the forecast period (2017-2022)

Summary:
The report on the Automotive Blind Spot Detection System Market by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2017-2022. The report also offers insights into different market segments and other factors affecting the market.

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Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Automotive Blind Spot Detection System Market is expected to inflate at impressive CAGR of 12.4% by the forecast period (2017 – 2022).

As per the report, the market is segmented by:
• By Vehicle Type: Passenger Car, Light Commercial Vehicle, Medium & Heavy Duty Commercial Vehicle
• By Technology Type: Radar Sensor, Ultrasonic Sensor, LIDAR Sensor, Other Sensors
• By End-User Type: OE, Aftermarket
• By Region: North America, Europe, Asia-Pacific, Rest of the World

The Table of Contents can be gone through here:
https://www.stratviewresearch.com/toc/135/automotive-blind-spot-detection-system-market.html

Highlights of the Report:

Global blind spot detection system market is projected to witness an impressive double digit CAGR of 12.4% over the next five years and reach US$ 3.0 billion in 2022. Increased demand for safety solutions, the introduction of more stringent government programs, advancement in technology, and increasing production of luxury vehicles are the key factors that are directly contributing to the increasing demand for blind spot detection system in the automotive industry.

Global automotive blind spot detection system is segmented based on vehicle type: passenger car, light commercial vehicle, and medium & heavy duty commercial vehicle. The passenger car segment is expected to remain the largest blind spot detection market over the next five years. The vehicle type is also projected to witness the fastest growth in the same period. Increasing demand for active safety systems including blind spot detection in the luxury cars is driving the vehicle segment. All major luxury car manufacturers, such as BMW, Mercedes-Benz, and Audi are incorporating a higher amount of advanced safety features including blind spot detection in their models.

Based on the technology type, the automotive blind spot detection system market is segmented as Radar, Ultrasonic, LIDAR, and Other Sensors. The radar sensor is expected to remain the perennial choice of the sensor in the global automotive blind spot detection system during the forecast period and is also projected to witness the fastest growth in the same period. Radar provides 360-degree coverage around the car, hence, making it the most effective sensor for the blind spot detection system.

OEM is expected to remain the largest end-user type in the global automotive blind spot detection system market over the next five years. This end-user type currently holds more than 90% of the global market in 2016. OEM is expected to remain act as a growth engine of the global automotive blind spot detection market, driven by high demand for BSD systems in the luxury vehicles.

Based on the region, the global automotive blind spot detection system market is segmented into four regions as North America, Europe, Asia-Pacific and Rest of the World. Europe and North America are the biggest markets of automotive blind spot detection system as both are the homes of major blind spot detection system manufacturers and manufacturing capitals of luxury cars. Additionally, the introduction of more stringent programs, such as The United States New Car Assessment Program (US NCAP) is supporting the demand for advanced safety features in the automobiles including blind spot detection.

Asia-Pacific is projected to witness the fastest growth during the forecast period, driven by Japan, China, and India. Increasing production of luxury vehicles and improving safety standards and measures taken by the government to mitigate road accidents would continue driving the demand for blind spot detection in the region.

Key Players of the Market
The market is consolidated in nature with five major players Autoliv Inc., Continental AG, Ficosa International, Denso Corporation, Delphi Automotive Plc holding together the major share in the market, with Autoliv Inc. being the key player.
Other important firms are Preco Electronics, Robert Bosch GmbH, Valeo S.A., Xiamen Autostar Electronics Co., Ltd., ZF TRW

Features of the Report
The Report discusses about the working of the blind spot detection system, the various types, and the growth of the blind spot detection system in the global market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

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Ritesh Gandecha
Stratview Research
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Direct: +1-313-307-4176

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This release was published on openPR.