ID: MRFR/AM/3450-HCR | February 2021 | Region: Global | 100 pages
The automotive industry has evolved tremendously, in terms of technological advancements, in both passenger and commercial vehicles, in the last few years. In the automotive driver assistance system, the blind spot object detection system is one such recent advancement that has been acknowledged in the global market.
Blind spot object detection system is another active safety system designed for passenger safety. It helps alert the driver to the presence of vehicles that may be in the blind spot areas of adjacent lanes of traffic. As a technology, it has gained much attention, especially in the way to adopting these vehicles.
The prominent players in the blind spot object detection system market include Robert Bosch (Germany), Denso Corporation (Japan), Continental AG (Germany), Autoliv Inc (Sweden), Delphi (UK), Magna International (Canada), Mercedes (Germany), Nissan (Japan), Hitachi Automotive Systems (Japan), Mobileye (Israel) and ZF Friedrichshafen AG (Germany).
The blind spot object detection system market is benefiting by the rise in concerns about car safety and comfortability. Also, upon experiencing high demand, several manufacturers have implemented this technology in both, passenger and commercial vehicles. Moreover, the increasing number of accidents, and growing awareness about road safety, are driving the demand for blind spot object detection system in the global market. Furthermore, the government regulatory policies regarding road safety, are also expected to boost the demand. In spite of these factors, the higher cost of technology, and availability of the system in luxury vehicles alone, are expected to hinder the market growth. The global blind spot object detection system market is expected to grow at ~17.5% CAGR during forecast period.
For this study, the global blind spot object detection system market has been divided, based on technology, functioning, vehicle types, and regions. On the basis of technology, the market has been segmented as radar sensors and camera. Among these, radar sensors are likely to cover the higher market share during the forecast period. The functioning segment has further been segmented as automatic and manual. On the basis of vehicle type, the market has been segmented as passenger vehicles and commercial vehicles. Among vehicle types, passenger vehicles has accounted the highest market share, in 2016, in terms of revenue.
Based on regions, the global blind spot object detection system market has been segmented as North America, Europe, Asia Pacific and Rest of the World. Europe has accounted for the largest market share, in 2016, followed by North America and Asia Pacific. In Europe, there has been rise in the sales of luxury vehicles, which has augmented the demand for blind spot object detection systems.. Germany, UK and France are the leading countries in Europe, which have fuelled the growth of the market. North America and Asia Pacific are the second and third leading regions, in terms of revenue.
The report for Global Blind Spot Object Detection System Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2027: Significant Value|
|CAGR||17.5% CAGR (2020-2027)2019|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, By End Market, By Application, By Vehicle type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Robert Bosch (Germany), Denso Corporation (Japan), Continental AG (Germany), Autoliv Inc (Sweden), Delphi (UK), Magna International (Canada), Mercedes (Germany), Nissan (Japan), Hitachi Automotive Systems (Japan), Mobileye (Israel) and ZF Friedrichshafen AG (Germany).|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The increased awareness related to road safety and good driving practices is projected to aid in the development of the market.
A 17.5% CAGR is projected to be observed in the market through the forecast period.
The income grossing in the market is expected to rise steadily in the forecast period.
Autoliv Inc (Sweden), Delphi (UK), Continental AG (Germany), Magna International (Canada), and Mercedes (Germany) are the adversaries in the market.
The European region is expected to appear as the majority stakeholder in the global market.