Automotive Blind Spot Detection System Market Growth Analysis (2023-2028)

Market Insights

"The global automotive blind spot detection system market size was estimated at USD 6.2 billion in 2022 and is likely to grow at a CAGR of 12.69% during 2023-2028 to reach USD 12.73 billion in 2028."

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An automotive blind spot detection system is a vehicle safety device that helps drivers identify and monitor vehicles or objects in their blind areas. Blind spots are places around the vehicle that the driver cannot see immediately through the side and rearview mirrors.

The blind spot detection system employs a variety of sensors, often radar or ultrasonic sensors mounted on the vehicle's sides or rear. These sensors send out signals that detect any objects or cars in the vicinity of the car. When another vehicle approaches the blind spot region, the system alerts the driver visually or audibly, indicating the presence of a vehicle in the next lane.

Market Dynamics

Market Drivers

The market is driven by a host of factors, some of which are noted below:

• Increased demand for safety solutions.
• The introduction of more stringent government programs.
• Advancements in technology.
• The increasing production of luxury vehicles.

Segment Analysis

Vehicle Trends

"The passenger cars segment accounted for the largest market share."

The automotive blind spot detection system market is segmented based on vehicle type: passenger cars, light commercial vehicles, and medium & heavy-duty commercial vehicles. The passenger car segment dominated the market and 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 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.

Technology Trends

"The radar segment accounted for the largest market share."

The market is segmented into radar, ultrasonic, LIDAR, and other sensors. The radar sensor occupies a significant share of the market and is expected to remain the perennial choice of the sensor in the global market 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.

End-User Trends

"The OEM segment accounted for the largest market share."

The market is segmented into OEM and aftermarket. The OEM segment accounted for the highest share of the market and is expected to remain the largest end-user type in the global market over the next five years. OEM is expected to remain active as a growth engine of the global market, driven by high demand for BSD systems in luxury vehicles.

Regional Insights

"Asia-Pacific accounted for the largest market share."

Asia-Pacific is projected to witness the fastest growth during the forecast period, driven by Japan, China, and India. Increasing the 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. Europe and North America are the biggest markets for automotive blind spot detection systems 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 automobiles including blind spot detection.

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Key Players

Some of the dominant players in global market are-

• Continental AG
• Denso Corporation
• Robert Bosch
• Delphi Automotive
• Autoliv Inc.

Other manufacturers include-

• ZF TRW
• Xiamen Autostar Electronics
• Auto-i Corp
• Valeo S.A.
• Ficosa International
• Preco Electronics.

New product development, advancement in technology, and collaboration with OEMs are the key strategies adopted by the key players to gain a competitive edge in the market.

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report, from Stratview Research, studies the blind spot detection system market in the global automotive industry over the period 2023 to 2028. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities in the market.

What Deliverables Will You Get in this Report?

The market is segmented into the following categories.

By Vehicle Type

• Passenger Car
• Light Commercial Vehicle
• Medium & Heavy-Duty Commercial Vehicle

By Technology Type

• Radar
• Ultrasonic
• LIDAR
• Other Sensors

By End-User Type

• OEM
• Aftermarket

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s automotive blind spot detection system market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3).
• SWOT analysis of key players (up to 3).

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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