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VR Test Drives Create Growth Prospects for Automotive Companies Post COVID-19 Crisis

Even as it is estimated that it will take longer than expected for the automotive industry to function as per its normal pace, trends such as the need for personal mode of transportation are likely to create future growth prospects post the COVID-19 crisis. At-home test drive, review videos, and digital showrooms are emerging as game changers in the automotive blind spot detection market. This is evident since even before the pandemic, auto shoppers were turning to YouTube to experience digital test drives.

Given the current shelter-in-place policies, alternatives to a dealer visit such as virtual reality (VR) test drives, online configurator, and video conferences are anticipated to keep economies running in the automotive blind spot detection market. Car brands that want potential buyers to engage with specific models should consider highlighting video content of interior overviews, walk arounds, and review videos.

automotive blind spot detection market segmentation

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Is it Worth Investing in Blind Spot Detection Solutions?

Blind spot monitoring is one of the most useful tools to ensure safe driving. However, price conscious buyers are critical about investing in automotive blind spot detection solutions due to the common assumption that drivers mostly coped without these features for decades in the past. Hence, companies in the automotive blind spot detection market are targeting SUV buyers and auto shoppers with high budgets, since these cars have far larger blind spots as compared to a low budget sedan.

The automotive blind spot detection market is undergoing a significant change with upgrades such as the change from passively warning the driver to actively helping him to a potential collision. Manufacturers are gaining a strong research base in solutions that are capable of maneuvering the steering and brakes to avoid a collision.

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Aerodynamic Vehicles Fuel Demand for Blind Spot Detection Sensors

Heavyweights such as Nissan, Ford, Toyota, and Hyundai, among others, are intensifying competition in the automotive blind spot detection market. Companies including Bosch Mobility Solutions have stepped up the competition by publicizing its blind spot detection solution, which makes use of ultrasonic sensors to monitor the area alongside and behind the car.

An aerodynamic vehicle might gain in optical appeal and eco-friendliness, but it is subject to lose its all-round vision. Stakeholders in the automotive industry are capitalizing on such opportunities to increase the availability of automotive blind spot detection solutions to prevent vehicle boarders from ending up in critical situations. As such, there is a growing demand for solutions that assist in lane changing to reduce the risk of accidents.

Drawbacks of Camera Link Technology with Bandwidth Influence Buyer Decision

The automotive blind spot detection market is predicted to clock a striking CAGR of ~13% during the forecast period. Automotive camera systems are being used in link with sensors to innovate in blind spot detection solutions. However, shortcomings of the camera link technology, such as the requirement for bandwidth are influencing the buyer’s decision. For instance, support vector machines (SVM) systems operate at low speed and use low refresh rates, which require limited bandwidth whereas wing-mirror replacement systems use high refresh rates and demand increased bandwidth. Hence, carmakers are suggesting automotive camera systems as per the auto shopper’s budget to provide him optimum value proposition for his or her purchase.

Traditional rear-view camera (RVC) systems built on standard definition (SD) video technologies serve as a reliable and cost-effective method for transferring video within the vehicle. Growing consumer expectations and legislative developments are acting as key drivers for the automotive blind spot detection market.

Companies Manufacturing Corner RADAR Sensors Designed for Heavy Commercial Vehicles

RADAR (Radio Detection and Ranging) sensors are gaining prominence in heavy commercial vehicles. This is evident since RADAR sensors are expected to dominate a higher revenue share compared to ultrasonic sensors in the automotive blind spot detection market. These sensors serve as a part of a vehicle’s driver assistance system that helps the driver to change lanes safely by indicating warning against dangerous situations.

Manufacturers in the automotive blind spot detection market are boosting their production capacities in corner RADAR sensors that adhere to legal requirements of owning trucks. Corner RADAR sensors are complementing driver assistance systems to provide more safety, comfort, and convenience to the driver.

Bumper Sensors Help Detect Vehicles Entering Driver’s Blind Spot Zone

Bumper radar sensors with high accuracy digital microwave radar tech are generating business opportunities for companies in the automotive blind spot detection market. Pioneer-a Japan-based multinational corporation specializing in digital entertainment products is increasing its focus in bumper radar sensors with built-in control and GPS (Global Positioning System) unit for speed sensing and is grabbing the attention of automotive companies. Manufacturers are innovating in bumper radar sensors that deliver interior audible and LED (Light Emitting Diode) indicator alerts.

Companies in the automotive blind spot detection market are developing bumper radar sensors that are capable of detecting vehicles entering the driver’s blind spot zone. Increased reading accuracy, GPS antenna, and built-in control unit installation is being preferred by vehicle owners. The IPX6 and IPX7 ratings for bumper radar sensors are boosting the credibility of suppliers. These sensors are able to detect vehicles overtaking from the rear, and even when the vehicle is backing out from a parking spot.

Innovations in Blind Spot Detection Sensors Intensify in U.S., Europe

Self-driving cars such as the Tesla are creating future growth prospects for stakeholders in the automotive blind spot detection market. Japanese LiDAR sensor manufacturer Hesai has unveiled its blind spot detection sensor PandarQT meant for autonomous vehicles at the CES (Consumer Electronics Show) 2020. Such innovations have sparked competition in the U.S. and Europe, which is well explained since both these regions dictate the highest revenue share in their respective order among all regions in the market during the projected period.

Blind spot sensing has become an important feature of self-driving vehicles, which helps to detect other vehicles located close to the driver and near-side.

automotive blind spot detection market infographic

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Analysts’ Viewpoint

Search interest for online keywords such as is it a good time to buy a car surged during the coronavirus pandemic, and has led to awareness about car deals through YouTube review videos and video conferences. Manufacturers are increasing their R&D to innovate in new blind spot detecting tech for autonomous vehicles whilst including aesthetic designs in solutions. However, sending video data across a camera link technology that does not provide sufficient bandwidth can be troublesome for car or truck fleet managers. Hence, companies should offer high definition analog link technologies and high definition link technologies to enable high quality image and data transfer. Companies in the automotive blind spot detection market are increasingly providing sensors that deploy rear cross-traffic alerts.

Automotive Blind Spot Detection Market: Overview

  • The blind spot detection system reduces the risk of accidents during lane changes by monitoring the dangerous blind spot area surrounding the vehicle. According to the World Health Organization, approximately 1.35 million people die each year as a result of road traffic crashes. Consequently, to curb rising road accidents, governments have imposed strict regulations on automotive OEMs to equip advanced safety features that help vehicle occupants save their lives. Therefore, governments and various transport unions are focused on the installation of safety systems, which, in turn, is estimated to drive the blind spot detection market.
  • Commercial vehicles are considerably large and often suffer from very poor visibility, despite being equipped with mirrors. Almost invariably, the driver cannot see important areas around the vehicle. The blind spot detection system uses radar sensors mounted at the side of the cabin to monitor the detection zone for relevant objects. The system warns the driver if such an object is identified, thereby assisting the driver in maneuvering. Therefore, the buses & coaches segment of the automotive blind spot sensors market is estimated to expand considerably.

Drivers of Automotive Blind Spot Detection Market

  • Rise in inclination of automotive users toward enhanced safety features is also boosting the blind spot detection system market. Increase in disposable income and changing consumer preferences regarding purchase of vehicles equipped with safety features, such as blind spot detection rather than wide mirrors, are fueling the demand for the automotive blind spot technology.
  • Globalization has resulted in a challenging automotive manufacturing environment, which is changing at a rapid pace, resulting in increasing competition between international and domestic car manufacturers. The automotive industry is working hand-in-hand with major technology companies in order to stay ahead of the competition and deliver highly advanced, safe, and comfortable vehicles. Therefore, this scenario will augur well for the automotive blind spot detection market.

Challenges for Automotive Blind Spot Detection Market

  • Extreme weather conditions are likely to make automotive blind spot detection systems inefficient. Camera-based systems hamper visibility in regions that experience extreme weather conditions such as fog, snowfall, and rainfall. Moreover, chances of the lens of camera being damaged are high. Therefore, the inefficient use of blind spot systems during extreme weather conditions and high repair cost of camera are anticipated to hamper the automotive blind spot detection market.

Automotive Blind Spot Detection Market Segmentation

  • The global automotive blind spot detection market has been segmented based on the component, application, and region
  • Based on component, the global automotive blind spot detection market has been segregated into RADAR sensor and ultrasonic sensor. In terms of component, the RADAR sensor segment is projected to be highly attractive during the forecast period, since RADAR sensors provide high accuracy, as compared to that provided by ultrasonic sensors.
  • Based on application, the global automotive blind spot detection market has been bifurcated into passenger vehicle and commercial vehicle. The passenger vehicle segment is projected to be highly attractive during the forecast period. Awareness about safety has been increasing among consumers, which, in turn, is expected to boost the passenger vehicle segment during the forecast period.

Automotive Blind Spot Detection Market: Regional Analysis

  • Based on region, the global automotive blind spot detection market has been divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa

Automotive Blind Spot Detection Market: Competition Landscape

  • Key players operating in the global automotive blind spot detection market include
    • Aptiv
    • Valeo
    • Robert Bosch GmbH
    • Continental AG
    • Denso Corporation
    • ZF Friedrichshafen AG
    • Siemens AG
  • Companies operating in the automotive blind spot detection business are collaborating to develop better products. For instance, on March 25, 2019, Ficosa and Panasonic announced that they would co-develop interior rear-view mirror with electronic toll collection for the new BMW X5 in Japan.
  • On August 19, 2020, PRECO Electronics announced that it had been acquired by Sensata Technologies, Inc. The acquisition of PRECO is estimated to extend Sensata’s capabilities in vehicle collision avoidance systems for industrial and heavy vehicle on/off-road markets.

Automotive Blind Spot Detection Market – Scope of the Report

Transparency Market Research’s recent report on the automotive blind spot detection market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the automotive blind spot detection market analyzes the scenario for the period of 2017 to 2031, wherein, 2020 is the base year and 2019 and before is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study.

This TMR study on the automotive blind spot detection market also provides data on the developments made by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with trends and restraints in the landscape. Presented in a clear sanctioned manner, this report on the automotive blind spot detection market gives readers an individual understanding of the market.

Key Questions Answered in This Report on Automotive Blind Spot Detection Market

  • How much value will the automotive blind spot detection market generate by the end of the forecast period?
  • Which segment of the market is likely to have the maximum market share by 2031?
  • What are the impact factors and their effects on the market for automotive blind Spot detection market?
  • What regions currently contribute the maximum share to the overall automotive blind spot detection market?
  • What are the indicators expected to drive the automotive blind spot detection market?
  • What region is likely to be a lucrative market during the forecast period?
  • What are the essential strategies by key stakeholders in the automotive blind spot detection market to expand their geographic presence?
  • What are the major advancements witnessed in the automotive blind spot detection market?
  • How regulatory norms affected the market for automotive blind spot detection market?

This report answers these questions and more about the automotive blind spot detection market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Automotive Blind Spot Detection Market – Research Methodology

This TMR report on the automotive blind spot detection market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. Market volume is determined by country wise model mapping of vehicle through internal & external proprietary databases, and relevant patent and regulatory databases. The competitive scenario of the automotive blind spot detection market is supported by an assessment of the different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data, current trends and announcement by the key players, researchers of the automotive blind spot detection market arrive at predictions and estimations, and calculate the forecast for the market.

This report uses an analytical triangulation method to estimate the numbers and figures of the automotive blind spot detection market, with both a bottom-up and top-down approach.

This detailed assessment of the automotive blind spot detection market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the automotive blind spot detection market is estimated to expand are based on carefully vetted primary and secondary sources.

Automotive Blind Spot Detection Market – Segmentation

This report on the automotive blind spot detection market provides information on the basis of component, application, and region.

Component
  • RADAR Sensor
  • Ultrasonic Sensor
Application
  • Passenger Vehicle
  • Commercial Vehicle
    • Light Commercial Vehicle
    • Heavy Commercial Vehicle
    • Buses & Coaches
Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

This study also discusses the underlying trends and impact of various factors that are driving the automotive blind spot detection market, along with their influence on the evolution of the market.

This study also offers Porter’s Five Point Analysis, value chain analysis, regulatory scenario, and a SWOT analysis of the automotive blind spot detection market in order to elaborate the crucial growth tactics and opportunities for market players contributing to the market.

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Automotive Blind Spot Detection Systems Market

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