The Global Blind Spot Monitoring Market was valued at US$ 9.9 billion in 2019, the estimated CAGR for the forecast period is 11% through 2030.
Rising investment in development of advanced active safety systems, implementation of stringent regulatory framework focused on vehicle safety, and growing consumer awareness are the key attributes contributing towards the growth of the global blind spot monitoring market. Blind spot monitoring plays a vital role in enhancing vehicle safety in real time. It monitors and detects the presence of other vehicle in the close vicinity of a vehicle and notifies the driver regarding the same, thereby assisting the driver in maintaining safety.
The government across major countries such as the United States and Canada, have mandated the use of rearview cameras to improve vehicle safety. Additionally, the automotive OEMs are inclined towards integration of basic blind spot monitoring systems in line with the government mandates and to gain a competitive edge in the market.
Rising consumer awareness regarding the benefits of active safety systems is expected to fuel the adoption of advanced blind spot monitoring systems in coming years. The blind spot monitoring solution providers are inclined towards development of advanced and affordable systems to ensure safety of wide range of vehicles. This is expected to compliment the growth of the global blind spot monitoring market during the forecast period.
Europe contributed a dominating share to the global blind spot monitoring market in 2019 and is anticipated to be a dominating segment throughout the forecast period. Strong presence of leading blind spot monitoring solution providers across major countries combined with government mandate to improve vehicle safety is expected to drive the growth of the Europe blind spot monitoring market during the forecast period.
Asia Pacific is expected to be a most lucrative geography during the forecast period and is expected to offer prominent opportunities to blind spot monitoring solution developers. Increased investment in expansion of automotive electronics industry, presence of manufacturing plants of leading automotive manufacturers, and rising awareness regarding the active vehicle safety are anticipated to be the key attributes driving the growth of the Asia Pacific blind spot monitoring market in coming years.
Blind Spot Monitoring Market Share Analysis, by Geography (2019)
The report titled “Blind Spot Monitoring Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global blind spot monitoring market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global blind spot monitoring market is segmented on the basis of product type, technology, vehicle type, propulsion type, sales channel, and geography. Based on product type, the global blind spot monitoring market is segmented into blind spot detection system, park assist system, backup camera system, surround view system, and others. Based on technology, the global blind spot monitoring market is segmented into camera-based system, radar-based system, ultrasonic-based system, and others. Based on vehicle type, the global blind spot monitoring market is segmented into passenger vehicle, light commercial vehicle, heavy commercial vehicle, and others. Based on propulsion type, the global blind spot monitoring market is segmented into internal combustion (IC) engine vehicle and electric vehicle. The electric vehicle segment is further dub-segmented into battery electric vehicles (BEV), hybrid electric vehicles (HEV), plug-in hybrid electric vehicle (PHEV), and fuel cell electric vehicle (FCEV). Based on sales channel, the global blind spot monitoring market is OEM and aftermarket. Based on geography, the global blind spot monitoring market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on blind spot monitoring. Further, market share of prominent companies in the global blind spot monitoring market would also be estimated. the study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the blind spot monitoring companies.
The global blind spot monitoring market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the blind spot monitoring business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global blind spot monitoring market.
Major players active in the global blind spot monitoring market include Ambarella, Inc., Aptiv, Autoliv Inc., Continental AG, DENSO Corporation, Ficosa Internacional SA, Gentex Corporation, HARMAN International, Hella KGaA Hueck & Co., HYUNDAI MOBIS, LogiGo connected mobility, Magna International Inc., Mobileye (An Intel Company), Motherson, Murakami Corporation, Muth Mirror Systems, Renesas Electronics Corporation, SL Corporation, STONKAM CO.,LTD., Valeo, VOXX International Corp., and ZF Friedrichshafen AG.
Segmentation:
By Product Type:
By Technology:
By Vehicle Type:
By Sales Channel:
By End Use:
By Geography :
The blind spot monitoring market is anticipated to expand at a CAGR of 11% through 2030.
Rising investment in development of advanced active safety systems, implementation of stringent regulatory framework focused on vehicle safety, and growing consumer awareness are the key attributes contributing towards the growth of the global blind spot monitoring market.
Europe contributed a dominating share to the global blind spot monitoring market and is anticipated to be a dominating segment throughout the forecast period.
Based on technology, the blind spot monitoring market is segmented into camera-based system, radar-based system, ultrasonic-based system, and others.
Copyright © 2024 Same Page Management Consulting Pvt. Ltd. (insightSLICE) | All Rights Reserved