Global Blind Spot Solutions Market was valued US$ XX Bn in 2018 and is expected to reach US$ 25.56 Bn by 2026, at a CAGR of around XX % during a forecast period.
Blind spot solutions are the collection of components and software that are joined to provide better visualization of the vehicle’s blind spot. These solutions are provided with a combination of information generated from radar sensors, cameras, and various other components.
Increasing consumer demand for active safety systems, stringent government regulation concerning vehicle and rising demand from the consumers for effective vehicle safety offerings are expected to drive blind spot solutions market. Additional, the emergence of autonomous vehicles and increasing demand for the semi-autonomous vehicle is likely to offer important growth opportunities for the global market during the forecast period.
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Moreover, the presence of regulations on the utilization of vehicles that are mirror less and usage of radar detectors considered illegal in some countries, which are the main restraints in this market.
By technology, the radar-based system segment is expected to dominate the XX% market share during the forecast period. The radar-based system segment is mainly an electromagnetic system that is used for detecting locations and distances of an object. As the term plans short-range radar can be used for detecting near objects in systems such as park assist, which is used in modern cars. Various sensor manufacturers are focusing their developments on reducing the cost of radars so that it’s cost-effective to fit sensors in a vehicle to provide object detection.
Passenger Cars segment dominates XX% market share during the forecast period, because of the passenger car customers are becoming increasingly aware of vehicle safety. With the growing demand for safer and more comfortable vehicles, the passenger car segment is estimated to lead the marketplace. The increasing need for luxury vehicles in developing countries is a dynamic factor for the growth of the blind spot solutions market.
Europe is expected to account for the largest share of the blind spot solutions market during the forecast period. The implementation of blind spot solutions in the Russian market is estimated to be low but is projected to grow in the forecasted future. The main development drivers of the market in this region include growing demand for the technology, rising need for safe and secure driving involvement, and increasing the development of semi-autonomous vehicles in the market. The manufacturers are focusing their research and development events on developing robust electric vehicles and autonomous vehicle technologies which will improve the demand for blind spot solutions in the region.
The report covers the recent development in the blind spot solutions market like in September 2018, Ficosa International SA in association with AUDI AG to develop the creation’s first digital rear-view system particularly designed for operations within Audi models. The system is known as camera monitoring system combines cameras and display monitors for replacing the side mirrors. This is the main step in progressive technology integration for the automotive industry.
The objective of the report is to present comprehensive analysis of global blind spot solutions market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding global blind spot solutions market dynamics, structure by analyzing the market segments, and project the global blind spot solutions market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the global blind spot solutions market make the report investor’s guide.
Scope of the Global Blind Spot Solutions Market
Global Blind Spot Solutions Market, By Product Type
• Blind Spot Detection System
• Backup Camera System
• Park Assist System
• Surround View System
Global Blind Spot Solutions Market, By Technology
• Camera-based system
• Radar-based system
• Ultrasonic-based system
Global Blind Spot Solutions Market, By Distribution Channel
• Original Equipment Manufacturers (OEMs)
Global Blind Spot Solutions Market, By Electric Vehicle Type
• Battery Electric Vehicle (BEV)
• Full-Cell Electric Vehicle (FCEV)
• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
Global Blind Spot Solutions Market, By Vehicle Type
• Passenger Cars
• Light Commercial Vehicles
Global Blind Spot Solutions Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Blind Spot Solutions Market
• ZF Friedrichshafen
• Samvardhana Motherson
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