Growing Preference Of Connected Vehicles Boosts The Blind Spot Monitor Market Growth: Strategic Insights Driving Blind Spot Monitor Market Momentum in 2025

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How Large Will the Blind Spot Monitor Market Size By 2025?
In recent times, there has been a quick expansion in the blind spot monitor market size. This market is projected to increase from $15.93 billion in 2024 to reach $17.69 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 11.0%. Past growth in this market sector can be linked to a growing consciousness around road safety, surging demand for vehicles with automation, higher vehicle production rates, and increased customer demand for safety functionalities. Furthermore, the widespread intake of Advanced Driver Assistance Systems (ADAS) technologies is also a contributing factor to this growth.

How Big Is the Blind Spot Monitor Market Size Expected to Grow by 2029?
The market size of the blind spot monitor is anticipated to witness a quick expansion in the coming years, reaching up to $26.74 billion in 2029 with a compound annual growth rate (CAGR) of 10.9%. This predicted growth during the forecast period can be attributed to the development of self-driving vehicles, tougher safety regulations, a growing preference for connected cars, an increase in the number of connected vehicles and the heightened focus on road safety measures. Key trends expected during the forecast period include the integration with Advanced Driver Assistance Systems (ADAS) technologies, the usage of sensor technologies, deployment in autonomous vehicles, the progression of automotive safety, and the implementation of Artificial Intelligence (AI) and machine learning.

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Which Key Market Drivers Powering Blind Spot Monitor Market Expansion and Growth?
The surging inclination towards connected vehicles is anticipated to drive the expansion of the blind spot monitor market in the coming years. Connected vehicles are basically cars equipped with internet connectivity, enabling communication with other vehicles, infrastructure, and miscellaneous external gadgets. The mounting demand for these types of vehicles stems from the convenience and efficiency they offer, alongside enhanced safety attributes, and smart infrastructure. Such vehicles incorporate advanced safety systems and share real-time information and traffic management systems. This empowers blind spot monitors (BSMs) to deliver precise and timely warnings, thereby elevating the overall safety and driving experience. For example, in June 2022, per Fleet News, a UK-based online platform for the UK and European vehicle fleet sectors, the ratio of connected vehicles surged to 97% from 94% between 2020 and 2022. Consequently, the rising tendency towards connected vehicles is propelling the expansion of the blind spot monitor market.

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Which Fast-Growing Trends Are Poised to Disrupt the Blind Spot Monitor Market?
Leading businesses in the blind spot monitor market are concentrating on creating advanced detection radar sensors. The aim is to increase the precision and dependability of blind spot monitoring systems and improve driver safety through better detection of objects and vehicles in blind spots. This reduced the chances of mishaps. The radar sensor built using state-of-the-art technology can identify objects in blind spots, even during bad weather conditions. This ultimately increases driver attentiveness and decreases the likelihood of blind spot accidents involving medium and heavy-duty trucks. As an example, in October 2023, Sensata Technologies, a company specializing in industrial technology from the United States, introduced the PreView Sentry 79. The sensor features a totally customizable detection zone, and it can pick up objects from as far away as 40 meters (131 feet). The range of the detection zone can be flexible to suit almost any type of vehicle. The PreView Sentry 79 can be put into service without making significant changes or causing disruptions to existing systems. It is a next-generation system that smoothly combines with a vehicle's current safety features, offering amplified protection for both drivers and passengers.

What Are the Emerging Segments in the Blind Spot Monitor Market?
The blind spot monitor market covered in this report is segmented -

1) By Product Type: Blind Spot Detection System, Park Assist System, Backup Camera System, Surround View System
2) By Component Type: Ultrasonic, RADAR, Camera
3) By Vehicle Type: Heavy Commercial Vehicles, Passenger Cars, Light Commercial Vehicles
4) By Vehicle Propulsion: Internal Combustion Engine (ICE), Electric
5) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket

Subsegments:
1) By Blind Spot Detection System: Radar-Based Blind Spot Detection, Camera-Based Blind Spot Detection, Ultrasonic-Based Blind Spot Detection
2) By Park Assist System: Ultrasonic Sensors For Parking Assistance, Camera-Based Park Assist System, Sensor And Camera Integrated Park Assist
3) By Backup Camera System: Wired Backup Camera, Wireless Backup Camera, Integrated Dashboard Backup Camera
4) By Surround View System: 360-Degree Camera System, Four-Camera Surround View System, Virtual 360-Degree System

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Who Are the Global Leaders in the Blind Spot Monitor Market?
Major companies operating in the blind spot monitor market are Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, Continental AG, Hyundai Mobis, Magna International Inc., Valeo SA, Aptiv, Infineon Technologies AG, Autoliv, HELLA GmbH & Co. KGaA, Samsung Electro-Mechanics, Garmin Ltd., Lexus, HL Mando, Pioneer Corporation, Gentex Corporation, Mobileye, VBOX Automotive, Xiamen Autostar Electronics Co. Ltd., SL Corporation

Which are the Top Profitable Regional Markets for the Blind Spot Monitor Industry?
Europe was the largest region in the blind spot monitor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blind spot monitor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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