Global Blind Spot Solutions Market By Product Type (Blind Spot Detection (BSD) System, Backup Camera System, Park Assist System, Surround View System and Virtual Pillars), Technology Type (Camera-Based, Radar-Based, Ultrasonic-Based), Distribution Channel (OEM and Aftermarket), Electric Vehicle (EV) Type (Battery Electric Vehicle (BEV), Full-Cell Electric Vehicle (FCEV), Hybrid Electric Vehicle (HEV) and Plug-In Hybrid Electric Vehicle (PHEV)), Internal Combustion Engine (ICE) Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Global Blind Spot Solutions Market
Data Bridge Market Research analyses that the blind spot solutions market would exhibit a CAGR of 12.15% for the forecast period. Rising demand for blind spot solutions in luxurious and premium vehicles and rising incidences of accidents caused with heavy commercial vehicles due to their inability to view the vehicle’s blind spots are the two major factors attributable to the growth of blind spot solutions market. In terms of blind spot solutions market value, it will stand tall by USD 32.14 billion by the year 2028.
Blind spot solutions is a combination of components that are designed to improve the visibility of the driver whether on the side or on the rear end, the blind spot solutions is a combination of information generated from radar sensors, LIDAR, cameras and others.
Rising focus over vehicle and passenger security systems by the major manufacturers has resulted in growth in the demand for blind spot solutions globally. Rising incorporation of advanced technological solutions in the automobiles coupled with increased regulations by the government regarding vehicle regulation will also create lucrative growth opportunities for the blind spot solutions market. Rising application of advanced mirrors on rear and side ends which result in better visualization is also fostering the market growth. Growing demand for passenger vehicles owing to the rising population and increasing personal disposable income will further induce growth in the demand for blind spot solutions.
However, increase in the cost of passenger vehicles owing to the incorporation of blind spot solutions technology will pose a major challenge to the market growth. Presence of regulations pertaining to the utilization of vehicles that are mirror less will act as market restraint for this market.
This global blind spot solutions market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on blind spot solutions market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Blind Spot Solutions Market Scope and Market Size
The global blind spot solutions market is segmented on the basis of product type, technology type, distribution channel, electric vehicle (EV) type and internal combustion engine (ICE) vehicle type. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
Blind spot solutions market, on the basis of product type has been segmented into blind spot detection (BSD) system, backup camera system, park assist system, surround view system and virtual pillars.
Based on technology type, the blind spot solutions market has been segmented into camera-based, radar-based and ultrasonic-based.
On the basis of distribution channel, the blind spot solutions market is segmented into OEM and aftermarket.
On the basis of electric vehicle (EV) type, the blind spot solutions market is segmented into battery electric vehicle (BEV), full-cell electric vehicle (FCEV), hybrid electric vehicle (HEV) and plug-in hybrid electric vehicle (PHEV).
On the basis of internal combustion engine (ICE) vehicle type, the blind spot solutions market is segmented into passenger cars, light commercial vehicles and heavy commercial vehicles.
Global Blind Spot Solutions Market Country Level Analysis
The global blind spot solutions market is analysed and market size insights and trends are provided by country, product type, technology type, distribution channel, electric vehicle (EV) type and internal combustion engine (ICE) vehicle type as referenced above.
The countries covered in the blind spot solutions market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe is undergoing substantial gains in the blind spot solutions market. This is because of the presence of major automotive manufacturers and major blind spot solutions key players in this region. Asia-Pacific is set to score the highest CAGR for the forecast period. This is because of rising demand for passenger vehicles owing to rising personal disposable income.
The country section of the blind spot solutions market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Blind Spot Solutions Market Share Analysis
The blind spot solutions market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to blind spot solutions market.
The major players covered in the blind spot solutions market report are Robert Bosch GmbH, Continental AG, DENSO CORPORATION., Valeo, Magna International Inc., Faurecia, HYUNDAI MOBIS., Aptiv., TOYOTA MOTOR CORPORATION., Schaeffler AG, Ficosa Internacional SA, Autoliv Inc., ZF Friedrichshafen AG, GENTEX CORPORATION, Motherson., Murakami Corporation., Renesas Electronics Corporation., SAMSUNG ELECTRO-MECHANICS, SL Corporation and STONKAM CO.,LTD. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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