The Blind Spot Solutions Market is projected to grow at a CAGR 11.97% rate during the forecast period. Factors such as increasing adoption rate of advanced technologies by OEMs, the introduction of stringent government programs pertaining to vehicle safety, growing consumer demand for active safety systems, rising adoption of smart mirrors in the automotive industry, and increasing demand for premium vehicles are expected to drive the market.
The backup camera system is estimated to hold the largest market share. Most of the vehicles are equipped with the rearview digital camera that assists the driver while parking a vehicle. Moreover, the US and Canadian governments have mandated the rearview camera because of its safety benefits. Canada has made rearview camera systems mandatory in new cars since May 2018. In line with government mandates related to backup cameras in North America, the governments in BRIC countries and Europe may issue mandates supporting backup/rearview camera functions soon which is likely to drive the market for backup cameras in the respective geographies.
Radar-based system segment system is projected to be the fastest growing market during the forecast period. Pulse-doppler radar is the most commonly used variant of radar sensors used in the present active safety systems and ADAS. It functions by sending short pulses of radio energy and concurrently listens for the echo from objects using the same antenna. There are three types of radars, namely, short range, mid-range, and long-range used in the automotive industry as per functional requirements.
Europe is estimated to be the largest market with the highest share of the global market. The regional market is dominated by the demand from Germany, Rest of Europe and the UK. The adoption of blind spot solutions in the Russian market is estimated to be low but is projected to increase in the future. Russian market is forecasted to be the fastest growing. The major growth drivers of the market in the region include growing demand for the technology, rising need for safe & secure driving experience, and increasing development of semi-autonomous vehicles.
Key Market Players include Denso (Japan), Continental (Germany), Bosch (Germany), and Magna (Canada).
· How will vehicle sales trends impact the market in the long term?
· How will the industry cope with the challenge of the high cost of blind spot solutions?
· How do you see the impact of government regulations on the market?
· What are the upcoming trends in the market? What impact would they make post 2025?
· What are the key strategies adopted by top players to increase their revenue?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1.Introduction of Stringent Government Programs Pertaining to Vehicle Safety
3.1.2.Increasing Consumer Demand for Active Safety Systems
3.1.3.Increasing Adoption of Smart Mirrors in Automotive Industry
3.1.4.Increasing Demand for Premium Vehicles
3.2.1.Constraints in Real-Time Image Processing in Surround View Systems
3.2.2.Threat of Security and Environmental Constrains
3.3.1.Advent of Autonomous Vehicles and Increasing Demand for Semi-Autonomous Vehicle
3.3.2.High Growth Potential of Multi camera Systems in Emerging Markets
4. Executive Summary
5. Blind Spot Solutions Market, By Product Type
5.1. Blind Spot Detection System
5.2. Backup Camera System
5.3. Park Assist System
5.4. Surround View System
5.5. Virtual Pillars
6. Blind Spot Solutions Market, By Technology Type
6.1. Camera-Based Systems
6.2. Radar-Based Systems
6.3. Ultrasonic-Based Systems
7. Blind Spot Solutions Market, By End Market
7.1. OEM Market
8. Blind Spot Solutions Market, By Electric Vehicle Type
9. Blind Spot Solutions Market, By Vehicle Type
9.1. Passenger Car
9.2. Light Commercial Vehicle (LCV)
10. Blind Spot Solutions Market, By Region
10.1. Asia Oceania
10.1.4. South Korea
10.1.6. Rest of Asia Oceania
10.2.7. Rest of Europe
10.3. North America
10.4. Rest of the World (RoW)
10.4.3. Rest of RoW
11. Company Profiles
11.11. Samvardhana Motherson
*Company introduction, financial information, recent developments, SWOT analysis
12. Conclusion and Recommendations
13.2. Related Reports