Blind Spot Solutions Market Scope
Blind spot solutions are those type of solutions in which car driver can easily view the objects in vehicle sides. The main function of blind spot solutions provides information about the objects which are outside the driver's vision range. Rising consumer demand for active safety systems across the world and increasing usage of a passenger car in developing countries are some of the major drivers which affect the growth of the market in the future.
The market study is being classified by Type (BSD, Park Assist, Backup Camera and Surround View & Virtual Pillar) and major geographies with country level break-up. According to AMA, the Global Blind Spot Solutions market is expected to see growth rate of 14.2% and may see market size of USD20.5 Billion by 2024.
The Manufacturers having a strong hold in the market are Denso (Japan), Continental (Germany), Bosch (Germany), among others. Research Analyst at AMA predicts that Germany Manufacturers will contribute to the maximum growth of Global Blind Spot Solutions market throughout the predicted period.
Denso (Japan), Continental (Germany), Bosch (Germany), Magna (Canada), Valeo (France), Aptiv PLC (Ireland), Magna International Inc. (Canada), Autoliv Inc. (Sweden), Ficosa International S.A. (Spain) and ZF Friedrichshafen (Germany) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Gentex Corporation (United States) and Samvardhana Motherson (India).
AdvanceMarketAnalytics has segmented the market of Global Blind Spot Solutions market by Type, Application and Region. On the basis of Type, Backup Camera are dominating the market in the year 2018
On the basis of geography, the market of Blind Spot Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2018. If we see Market by Technology, the sub-segment i.e. Camera-Based Systems will boost the Blind Spot Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type, the sub-segment i.e. Passenger Car will boost the Blind Spot Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. OE Market will boost the Blind Spot Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Electric Vehicle Type, the sub-segment i.e. BEV will boost the Blind Spot Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In June 2017, the ZF Friedrichshafen (Germany) Company and Hella KGaA Hueck & Co. (Germany) Company has entered into a strategic partnership for sensor technology, particularly for front camera systems, imaging, and radar systems. Hence, this partnership has helped in the expansion of the company.
In September 2018, the Ficosa International S.A. (Spain) company has developed the digital rear-view system of the Audi e-Tron, which is safer, more efficient, and easy to use. Hence, it will help to enhance the growth of the revenue of the company.
- Various Technologies Advancements Such as Electric Trucks, Truck Platooning, Autonomous Trucks and Semi-Autonomous
- An initiative of Stringent Government Programs Pertaining to Safety Solutions in Vehicles
- Growing Adoption of Smart Mirrors in Automotive Industry and Rising Demand for Premium Vehicles
- Increasing Adoption of Autonomous Vehicles and Increasing Demand for Semi-Autonomous Vehicle
- High Growth Potential of Multicamera Systems in Emerging Markets such as China and India
- Problematic of Regulations Pertaining to Mirrorless Vehicles May Restraints the Market
- Major Concern regarding the Usage of Radar Detectors Considered Illegal in Some Countries
- The problem regarding Constraints in Real-Time Image Processing in Surround View Systems
- Issue related to Threat of Security and Environmental Constraints
Key Target AudienceBlind Spot Solutions Manufactures, Blind Spot Solutions Suppliers/Distributors, Industry Association, Downstream Vendors, Government Regulatory Bodies, Private Research Organizations, Government Research Organizations and Others
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