Press release
Blind Spot Solutions Market size, share, growth factors, trends and opportunities
Blind spot solutions is a combination of components that are designed to improve the visibility of the driver whether on the side or on the rear end, the blind spot solutions is a combination of information generated from radar sensors, LIDAR, cameras and others.View Detailed Report: https://www.databridgemarketresearch.com/reports/global-blind-spot-solutions-market
Rising focus over vehicle and passenger security systems by the major manufacturers has resulted in growth in the demand for blind spot solutions globally. Rising incorporation of advanced technological solutions in the automobiles coupled with increased regulations by the government regarding vehicle regulation will also create lucrative growth opportunities for the blind spot solutions market. Rising application of advanced mirrors on rear and side ends which result in better visualization is also fostering the market growth. Growing demand for passenger vehicles owing to the rising population and increasing personal disposable income will further induce growth in the demand for blind spot solutions.
However, increase in the cost of passenger vehicles owing to the incorporation of blind spot solutions technology will pose a major challenge to the market growth. Presence of regulations pertaining to the utilization of vehicles that are mirror less will act as market restraint for this market.
Data Bridge Market Research analyses that the blind spot solutions market would exhibit a CAGR of 12.15% for the forecast period. Rising demand for blind spot solutions in luxurious and premium vehicles and rising incidences of accidents caused with heavy commercial vehicles due to their inability to view the vehicle's blind spots are the two major factors attributable to the growth of blind spot solutions market. In terms of blind spot solutions market value, it will stand tall by USD 32.14 billion by the year 2028.
Key Players Analysis"
The major players covered in the blind spot solutions market report are Robert Bosch GmbH, Continental AG, DENSO CORPORATION., Valeo, Magna International Inc., Faurecia, HYUNDAI MOBIS., Aptiv., TOYOTA MOTOR CORPORATION., Schaeffler AG, Ficosa Internacional SA, Autoliv Inc., ZF Friedrichshafen AG, GENTEX CORPORATION, Motherson., Murakami Corporation., Renesas Electronics Corporation., SAMSUNG ELECTRO-MECHANICS, SL Corporation and STONKAM CO.,LTD. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Global Blind Spot Solutions Market Scope and Market Size
The global blind spot solutions market is segmented on the basis of product type, technology type, distribution channel, electric vehicle (EV) type and internal combustion engine (ICE) vehicle type. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
Blind spot solutions market, on the basis of product type has been segmented into blind spot detection (BSD) system, backup camera system, park assist system, surround view system and virtual pillars.
Based on technology type, the blind spot solutions market has been segmented into camera-based, radar-based and ultrasonic-based.
On the basis of distribution channel, the blind spot solutions market is segmented into OEM and aftermarket.
On the basis of electric vehicle (EV) type, the blind spot solutions market is segmented into battery electric vehicle (BEV), full-cell electric vehicle (FCEV), hybrid electric vehicle (HEV) and plug-in hybrid electric vehicle (PHEV).
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