Blind Spot Detection Market is expected to reach US$ 8.1 billion by 2032,Future Market Insights, Inc.

The blind spot detection market is anticipated to expand at a CAGR of 13.9% from 2022 to 2032, reaching a valuation of US$ 8.1 billion.

Despite having plenty of mirrors, a number of commercial vehicles are large and have poor visibility, which raises the possibility of accidents. Because drivers can’t see the areas around them, a side collision with the heavy vehicle is imminent. This is forcing all heavy duty manufacturers to implement BSD, which is anticipated to support the market’s growth.

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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.

Key Takeaways:

  1. By technology type, sales in the camera sensor segment are expected to grow at a 13.8% CAGR over the forecast period.
  2. 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.
  3. By Region, Europe and East Asia is expected to remain key markets for BSD, about 60.0% of the total market share by 2032.
  4. Based on vehicle type, the passenger vehicle segment is forecast to dominate the market with more than 69.2% of the total market share.

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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.

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

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

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.

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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