Press release
The automotive blind spot detection system market is projected to reach $38.68 billion by 2032, growing at a compound annual growth rate (CAGR) of 18.4%.
Automotive Blind Spot Detection System Market
Overview:
Vigilance is the mantra for each safety-aware driver, but when substituting lanes or turning, there are parts that one oversees. The blind spot is the area just adjacent to the car and is not covered by the mirrors or when one turns the head, it is shrouded by the pillar between the front and rear seat of the vehicle. Not just a dread for initial driving test takers, car makers have long looked for contemporary ways to persuade this outline problem to enhance safety. The driver-helping technology traces vehicles proceeding parallel or behind. If one is stipulating to alter lanes, the system will apprise in a couple of varied ways relying on the make of the car. A flashing light on the wing mirror or the interior front column is escorted by a warning sound.
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Growth Factors and Opportunities:
Ongoing technological advancements such as sensor technology involving cameras, lidar, and radar are expected to drive up the demand for automotive blind spot detection systems. Moreover, the growing focus on road safety where governments, administrative bodies, and consumers are growingly sequence accident prohibition will propel the automotive blind spot detection system market forward.
Key Participants:
The market encounters aggressive competition with firms supporting modern technology and excellent commodity offerings. Some of the major players participating in the automotive blind spot detection system market are:
• Aptiv PLC
• Autoliv Inc.
• Borgwarner Inc.
• Continental AG
• DENSO Corporation
• Ficosa International S.A.
• Gentex Corporation
• Infineon Technologies AG
• Magna International Inc.
• Mando Corporation
• Robert Bosch GmbH
• Valeo SA
• WABCO Holdings Inc.
• Xiamen Autostar Electronics Co., Ltd.
• ZF Friedrichshafen AG
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Geographical Landscape:
• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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Market Segmentation:
The automotive blind spot detection system analysis is mainly based on technology, vehicle type, vehicle propulsion, and region. Based on technology, the radar segment witnessed the fastest growth. Also, according to vehicle type, the passenger cars segment holds a significant revenue share. Customized for an urban backdrop, these systems traverse complex traffic motifs and lessen accidental probabilities.
Automotive Blind Spot Detection System Market, Technology Outlook (Revenue - USD Billion, 2019-2032)
• Radar
• Camera
• Ultrasonic
• Others
Automotive Blind Spot Detection System Market, Vehicle Type Outlook (Revenue - USD Billion, 2019-2032)
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
Automotive Blind Spot Detection System Market, Vehicle Propulsion Outlook (Revenue - USD Billion, 2019-2032)
• ICE
• Electric
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