Automotive Blind Spot Detection System Market , Opportunities, Size, Share, Revenue, Competitive Analysis, Demand and Growth by 2025
According to the latest report by IMARC Group, titled "Automotive blind spot detection system Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global automotive blind spot detection system market grew at a CAGR of around 13% during 2014-2019 and expects the market to continue its strong growth during the next five years.
The global automotive blind spot detection system market is driven by the increasing safety concerns among users, along with numerous favorable government initiatives.The automotive blind spot detection (BSD) system is a sensor-based active safety system that is designed for passenger safety. It is widely employed in automobiles to identify objects in the periphery of the vehicles with the help of embedded sensors and digital cameras that utilize electromagnetic waves or computer-processed images to determine the presence of objects. These systems utilize tactile, audible, vibrating or visual signals to alert the driver regarding the presence of the objects or vehicles that are present at the blind spot areas of adjacent lanes of traffic. As a result, they are widely being equipped in passenger and commercial vehicles to avoid road accidents.
There has also been a considerable rise in the number of road accidents. This has led to the growing awareness regarding road safety among the masses, which, in turn, has impelled the demand for BSD systems in automobiles. This is also being supported by the numerous measures undertaken by the government to spread awareness regarding the importance of road safety. The market is further driven by the increasing preference for luxury vehicles that are equipped with advanced and innovative technologies, supported by the inflating disposable income levels of the masses. Moreover, numerous players are now integrating commercial vehicles with radar-based BSD systems for long, medium and short-range object detection, which is providing a thrust to the market growth.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Automotive Blind Spot Detection System Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Autoliv Inc., Continental Aktiengesellschaft, Delphi Technologies Plc, DENSO Corporation, Ficosa International S.A. (Panasonic Corporation), Magna International Inc., Mando Corporation, Preco Electronics Inc. (Sensata Technologies), Robert Bosch GmbH, Smart Microwave Sensors GmbH and ZF Friedrichshafen AG (Zeppelin-Stiftung).
The report has segmented the market on the basis on region, vehicle type, technology and end user.
Breakup by Vehicle Type:
· Passenger Cars
· Commercial Vehicles
Breakup by Technology:
· Radar Sensor
· Ultrasonic Sensor
· LIDAR Sensor
Breakup by End User:
· Original Equipment Manufacturers (OEM)
Breakup by Region:
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/automotive-blind-spot-detection-system-market
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