In 2021, the blind spot detection market was worth US$ 1.9 Bn. Blind spot detection system sales are anticipated to grow at an astounding 13.9% CAGR, with a market value of US$ 8.1 Bn by 2032. The report predicts that the combined sales of camera sensors and radar sensors will amount to US$ 1.7 billion.
Pedestrian safety is becoming a priority owing to high incidence of road accidents. With the increasing complexity of traffic and growing number of vehicles on the road, demand for technologically equipped vehicles with sensors is increasing.
In near future, passenger vehicles and heavy commercial vehicle is expected to be equipped with ADAS systems such as blind-spot detection at a considerable pace. Blind-spot detection (BSD) systems can be a valuable technology for drivers at night or in adverse weather conditions.
Several commercial vehicles are large in size and despite being well-equipped with mirrors, they have poor visibility which increase the risk of accidents. Drivers are unable to see areas adjacent to the vehicle thus side collision with the heavy vehicle is imminent. This is compelling all heavy duty manufacturers to install BSD, which is expected to bolster the growth in the market.
Request a sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-14927
Automobile manufacturers are subject to stringent passenger safety regulations and standards, which are imposed by various government bodies in various countries.
During the forecast period, the automotive industry’s technological growth, focus to adopt advanced technologies, develop structured safety features, and a rising adoption of autonomous vehicles is anticipated to create opportunities for the blind spot detection market.
During the forecast period, the global BSD market is anticipated to be benefited from an increase in per-capita spending power in developing economies, as well as growing demand for premium and luxurious features in passenger vehicles.
“Rising demand for passenger vehicles equipped with ADAS is expected to fuel sales of blind spot detection systems. Besides this, stringent regulations regarding the adoption of safety systems in commercial vehicles will propel the growth in the market over the forecast period,” says an FMI analyst.
Request a Complete TOC @ https://www.futuremarketinsights.com/toc/rep-gb-14927
Key Takeaways:
- By technology type, sales in the camera sensor segment are expected to grow at a 13.8% CAGR over the forecast period.
- The U.S. will continue dominating the North America blind spot detection market, with total sales reaching a valuation of US$ 4 Bn in 2022.
- By Region, Europe and East Asia is expected to remain key markets for BSD, about 60.0% of the total market share by 2032.
- Based on vehicle type, the passenger vehicle segment is forecast to dominate the market with more than 69.2% of the total market share.
Competitive Landscape
Texas Instruments Incorporated, Intel Corporation, NVIDIA Corporation, Continental AG, Magna International, and Mobileye are some of the key manufacturers of BSD system.
Manufacturers /developers of blind spot detection are focusing on mergers, acquisitions and collaborations with OEMs and start-ups to improve their product portfolios and to gain a competitive edge in the market.
Request to ask an expert here @https://www.futuremarketinsights.com/ask-question/rep-gb-14927
ADAS Market by Category
By Technology:
- Ultrasonic Sensor
- Lidar Sensor
- Radar Sensor
- Camera Sensor
- Infrared Sensor
- Pressure Sensor
By Sales Channel:
- Original Equipment Manufacturer (OEM)
- Aftermarket
By Vehicle Type:
- Passenger Vehicle
- Heavy Commercial Vehicle
- Light Commercial Vehicle
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product innovation & Diversification
4.3. Marketing and Brand management
4.4. Supply Chain Management
Request Discount @ https://www.futuremarketinsights.com/request-discount/rep-gb-14927
5. Global Blind Spot Detection Market Demand Analysis 2017-2021 and Forecast, 2022-2032
Caulking Gun Market Demand: As per FMI Analysts, the global caulking gun market is estimated to be valued at US$ 4.2 Billion in 2022 and is projected to increase at a CAGR of 5.5% in the forecast period from 2022 to 2032.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedIn| Twitter| Blogs
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com