Automotive Blind Spot Detection Market
Automotive Blind Spot Detection Market (Component - RADAR Sensor and Ultrasonic Sensor; Vehicle - Passenger Vehicle and Commercial Vehicle (Light Commercial Vehicle, Heavy Commercial Vehicle, and Buses & Coaches)) - Global Industry Analysis, Size, Share, Growth, Trends, And Forecast 2017 - 2025
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Global Automotive Blind Spot Detection Market: Snapshot
Blind Spot Detection system is a sensor based detection system implemented in automobiles that is used for monitoring vehicles at the rear and side of the driver/vehicle. Such systems generate tactile, audible, vibrating or visual form of warnings. They also assist the driver in the parking lots when there are other vehicles approaching from the sides or rear. Blind spots are caused due to various objects such as passengers, headrests and window pillars. Mirrors are generally used to remove the blind spots but the disadvantage being that they leave huge dead on all the sides of the vehicle. Blind spot detection systems, with the help of sensor systems generate information about various objects that are outside the range of driver’s vision.
Demand for RADAR Sensors to Rise through Forecast Period
The automotive blind spot detection market has been segmented into three categories: component, vehicle, and region. In terms of component, the automotive blind spot detection market has been classified into RADAR sensor and ultrasonic sensor. In terms of revenue, RADAR sensor held the largest market share of 67.4% in 2016, owing to the increased demand for efficient RADAR sensors in the automotive industry. Recent researches reveal the rising use of RADAR sensors over ultrasonic sensors in developed markets across Europe and North America has enabled the automotive blind spot detection market gain significant impetus.
During the course of the forecast period, the RADAR sensor segment is likely to demonstrate high growth. The reduced cost of these sensors, besides their ability to detect objects kept at a long distance will enable growth in the market in the coming years. In addition, the rising number of road accidents and recent changes in government policies to encourage improve road safety will augment growth.
By application, the automotive blind spot detection market has been segregated into passenger vehicle and commercial vehicle (light commercial vehicle, heavy commercial vehicle, and buses & coaches). In terms of revenue, the passenger vehicle segment constituted more than 64.3% market share in 2016.
North America Emerges as Most Lucrative Market for Automotive Blind Spot Detection
In terms of region, the blind spot detection market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In 2016, North America dominated the Blind spot detection market with more than 49.9% share and is expected to follow the same trend during the forecast period. In the forthcoming years, the rating system of vehicles is likely to get more stringent in America. Therefore, in order to achieve top ratings, manufacturers will need focusing on the production of vehicles that exceed federal safety standards. This will in turn fuel the demand for automotive safety systems, boosting the global automotive blind spot detection market in response.
Key players in the automotive blind spot detection market are expected to benefit from the formation of strategic alliances with global players in the automotive blind spot detection market. Prominent players in the automotive blind spot detection market are Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, DENSO CORPORATION, Delphi Automotive LLP, Preco Electronics, Siemens AG, Autolive Inc., Valeo, Mobileye, Ficosa Internacional SA, Smartmicro, Xiamen Autostar Electronics CO. Ltd., and others.
Global Automotive Blind Spot Detection Market: Overview
This report analyzes and forecasts the market for automotive blind spot detection at the global and regional level. The market has been forecasted based on revenue (US$ Mn) and volume (Units) from 2017 to 2025, 2016 being the base year. The study includes drivers and restraints for the global automotive blind spot detection market. It also covers the impact of these drivers and restraints on demand for automotive blind spot detection during the forecast period. The report also highlights opportunities in the automotive blind spot detection market at the global and regional level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global automotive blind spot detection market. Porter’s Five Forces model for the automotive blind spot detection market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
Global Automotive Blind Spot Detection Market: Scope of the Study
The study provides a decisive view of the global automotive blind spot detection market by segmenting it in terms of component, vehicle, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for automotive blind spot detection in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual application segments in all the regions.
The report provides the estimated market size of automotive blind spot detection for 2016 and forecast for the next nine years. The global market size of automotive blind spot detection has been provided in terms of revenue and volume. Market numbers have been estimated based on key component, vehicle, and regional segments of automotive blind spot detection market. Market size and forecast for each major component and vehicle have been provided in terms of global and regional/country markets.
Global Automotive Blind Spot Detection Market: Research Methodology
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, American Automobile Association, European Automobile Manufacturers Association, Automotive Research Association of India, Organisation Internationale des Constructeurs d'Automobile (OICA), Factiva, etc.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
Companies Mentioned in Report
The study includes profiles of major companies operating in the global automotive blind spot detection market. Key players in the automotive blind spot detection market include Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Denso Corporation, Delphi Automotive LLP, Preco Electronics, Siemens AG, Autolive Inc., Valeo, Mobiley, Ficosa Internacional SA, Smartmicro, Xiamen Autostar Electronics CO. Ltd., and others. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, and SWOT analysis. The market for automotive blind spot detection is primarily driven by rising demand for eco-friendly agro products. Industrialization has led to urbanization, which has resulted in migration to cities.
The automotive blind spot detection market has been segmented as follows: