The new report by Expert Market Research titled, ‘Global Blind Spot Solutions Market Growth, Share, Size, Trends, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global blind spot solutions market, assessing the market based on its segments like product types, technology, end market, electric vehicle type, vehicle type and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 9.79 Billion
- Forecast CAGR (2023-2028): 11%
Rapid technological developments and rising customer awareness are driving the sector. Sensors such as radar, ultrasonic, LiDAR, and cameras monitor the environment surrounding the vehicle in semi-autonomous vehicles.
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To better perceive the surroundings, blind spot alternatives like blind-spot detection methods, surround-view cameras, and digital side view devices can be used. The increasing use of these blind spot solutions is likely to fuel the market development.
Blind Spot Solutions Industry Definition and Major Segments
A blind spot is a region in our visual range that is not adequately or visible to us, but which a person should technically be able to see, such as while driving a car, the area directly behind our shoulders.
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By product type, the market is divided into:
- Blind Spot Detection System
- Backup Camera System
- Park Assist System
- Surround View System
- Virtual Pillars
Based on technology, the industry can be segmented into:
- Camera-Based Systems
- Radar-Based Systems
- Ultrasonic-Based Systems
Based on the end market, the industry can be segmented into:
- Camera-Based Systems
- Radar-Based Systems
- Ultrasonic-Based Systems
Based on electric vehicle type, the industry can be segmented into:
- BEV
- FCEV
- HEV
- PHEV
Based on vehicle type, the industry can be segmented into:
- Passenger Car
- Light Commercial Vehicle (LCV)
- Truck
- Bus
The global regions for radiology positioning aids market include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Blind Spot Solutions Market Trends
The major market drivers include the increasing implementation of strict government vehicle safety programs, rising customer demand for active safety systems, and rising demand for luxury cars. The increasing adoption of modern technology solutions in cars will also provide attractive development possibilities for the market for blind spot solutions.
The increasing use of sophisticated mirrors on rear and side ends, which result in improved visibility, is also fueling market development. Growing demand for passenger automobiles as a result of expanding population and rising personal disposable income will drive up demand for blind spot remedies.
Key Market Players
The major players in the market are Bosch, Continental, Denso, Valeo, Aptiv [APTV (NYSE)], Magna Autoliv, Ficosa, ZF Friedrichshafen, Gentex, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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