Global Automotive Blind Spot Detection (BSD) System Market is valued at approximately USD 3.9 Billion in 2021 and is anticipated to grow with a healthy growth rate of more than 13.7% over the forecast period 2022-2029.
The automotive sector has witnessed a rise in the adoption of smart technologies, one of which is blind spot detection (BSD). It is a sort of advanced driver assistance system that uses unique sensors to detect items in a blind spot. Image sensors are typically used to communicate an image to the monitor to deliver critical information to the driver. When these sensors detect the presence of an object in the blind spot, they sound an alarm. Additionally, different automotive manufacturers use different names for the BSD system, such as blind-spot monitoring and blind-spot information system. The Automotive Blind Spot Detection (BSD) System Market is expanding because of factors such as strict safety standards and increasing consumer preference for safety solutions.
Request to Download Free Sample Copy of ‘Automotive Blind Spot Detection (BSD) System Market’ Report: –https://reportocean.us/sample-request/report_id/bzwt2290
According to the WHO, approximately 1.25 million people die in traffic accidents each year. To combat escalating traffic accidents, governments have set severe regulations on automotive manufacturers to adopt modern safety measures that assist save the lives of drivers and passengers. In Georgia, approximately 121 people per 1,000,000 people died as a result of traffic accidents in 202so0. Despite having left-hand traffic, the country imports a considerable number of right-hand drive vehicles. Georgia appears to lack strong rear passenger restraint rules as well. The number of traffic deaths in the United States remained high in 2019, however, they were marginally lower than the previous year. Distracted driving appears to reduce the benefits of higher restraint use and improved safety aid systems for motor vehicles. Also, automobile manufacturers must get safety ratings from organizations such as the Insurance Institute of Highway Safety (IIHS), the New Car Assessment Program (NCAP), and the International Centre for Automotive Technology (ICAT) to obtain market access for their vehicles. Thus, all of the government’s safety rules and regulations are predicted to promote the growth of the blind spot detection system market in the future years. Also, technological advancements and rising demand for driving comfort will provide lucrative growth opportunities for the market during the forecast period. However, unfavorable weather conditions hamper market growth during the forecast period of 2022-2029.
The key regions considered for the Global Automotive Blind Spot Detection (BSD) System Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the easy availability of raw materials and the mass manufacture of BSD system technology at lesser rates are driving Asia Pacific’s growth in this market. Consumers’ purchasing preferences for vehicles have shifted from entry-level to mid-level versions as their disposable income has increased. North America is expected to grow with the highest CAGR during the forecast period, owing to factors such as the ruling organizations in this region that have enhanced the vehicle rating system, forcing manufacturers to build automobiles that fulfil the government’s safety standards.
Major market players included in this report are:
Robert Bosch GmbH
Delphi Automotive LLP
Continental AG
Preco Electronics
ZF Friedrichafen AG
Autoliv
Denso Corporation
Valeo
Velodyne Lidar Inc.
Ficosa Internacional SA
Recent Developments in the Market:
In November 2020, Velodyne Lidar Inc. had launched its solid state Velarray H800 sensor. This new sensor is intended for use in ADAS and autonomous mobility applications for safe navigation and collision avoidance.
Global Automotive Blind Spot Detection (BSD) System Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Component Type, Vehicle Type, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component Type offerings of key players.
The detailed segments and sub-segment of the market are explained below.
By Component Type:
Ultrasonic
RADAR
Cameras
By Vehicle Type:
Passenger Cars
Commercial Vehicles
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom-line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.