Blind Spot Monitor Market

Global Blind Spot Monitor Market Size (2024 to 2029)

The global blind spot monitor market size is expected to reach USD 30.77 billion in 2024 and is anticipated to reach a valuation of USD 57.75 billion by 2029 and is predicted to register a CAGR of 13.42% during 2024 to 2029.

The blind spot monitor is an automobile-built sensor device that senses various vehicles located on the driver’s side. Warnings from the system are generated and may be in forms like audible, tactile, visual, or vibrating. Blind spot monitors may do quiet monitoring from the edges and rear of the car. They'll also incorporate cross-traffic alert, which warns a person retreating from a parking lot when traffic is reaching from the sides. The main feature of blind spot monitoring can be a key technology among driving aids that provides 360-degree electronic coverage around the car and security in the circle also includes adaptive control, front parking sensor, rare, parking cameras, and lane departure warning. Increased safety of the driving forces will as a result encourage various OEMs to manufacture parts that supply the features like high strength and guide the driver by using advanced safety technologies.

Increased interest in safety solutions, the introduction of more stringent government programs, advancement in technology, and the growing production of luxury vehicles are the key factors that are directly contributing to the rising demand for blind-spot monitors within the automotive industry.

MARKET DRIVERS

The factors expected to spice up the expansion of the global blind spot monitor market comprise growing industrialization within the emerging regions with rising government investments, advanced technologies, low-cost labour, and expanding disposable incomes. Additionally, the government policies favouring the Blind Spot Monitoring market, alternative sources for automotive production, and growing interest in automated automobiles are expected to provide future opportunities for the expansion of this market. However, the hike in the number of road accidents, and increasing awareness about road safety are the major factors spurring the market growth.

MARKET RESTRAINTS

However, the higher cost of technology and availability of systems in luxury vehicles are predicted to restrain the growth of the overall market.

REPORT COVERAGE

SEGMENT ANALYSIS

Global Blind Spot Monitor Market Analysis By Application

OEM is anticipated to continue as the largest end-user within the global blind spot monitoring market over the foreseen period. In 2017, this end-user type holds quite 90% of the worldwide market. Because of the high demand for blind spot detection in luxury vehicles, the OEM segment is predicted to continue its growth within the global blind spot monitoring market.

Global Blind Spot Monitor Market Analysis By Type

Regulations of the state have made passenger safety a primary concern for all automotive manufacturers. Safety systems assist in keeping cars in check, stopping vehicle accidents, and protecting passengers from injuries. These systems are fully automated in order that human errors are often compensated; therefore, such devices help stop crashes. There are various systems involved, such as electronic control units such as adaptive control, night vision systems, engine stability programs, LDWS, and intelligent parking assistance systems that are increasingly used in automobiles. All major luxury car manufacturers, like BMW, Mercedes-Benz, and Audi are incorporating a better amount of advanced safety features including blind spot detection in their models.

Global Blind Spot Monitor Market Analysis By Product

The radar device is predicted to stay the perennial sensor choice within the international automotive blind spot monitoring market throughout the planned period, and moreover, it's expected to expertise the quickest growth throughout a similar period. Radar provides 360-degree coverage around the car, hence, making it the most effective sensor for the blind spot detection system.

REGIONAL ANALYSIS

North America is the biggest market for automotive blind spot noticing systems as both are the homes of major blind spot detection system manufacturers and manufacturing capitals of luxury cars. Also, the introduction of more stringent programs, like The US New Car Assessment Program (US NCAP) is supporting the interest in advanced safety features within automobiles including blind spot detection. Asia-Pacific is predicted to witness the fastest growth during the foreseen phase, driven by Japan, China, and India. Rising production of luxury vehicles and improving safety standards and measures taken by the govt. to mitigate road accidents would continue driving the demand for blind spot monitoring in the area.

KEY PLAYERS IN THE GLOBAL BLIND SPOT MONITOR MARKET

The global blind spot monitor market is concentrated with well-established players. Key players in the market include, Continental AG, Denso Corporation, Robert Bosch, Delphi Automotive, Autoliv Inc., ZF TRW, Xiamen Autostar Electronics, Auto-i Corp, Valeo S.A., Ficosa International and Preco Electronics

RECENT HAPPENINGS IN THE GLOBAL BLIND SPOT MONITOR MARKET

•  Continental’s fifth-generation radar sensors which comprise capabilities like enhanced object detection, make it possible to deliver a high-performance hand brake assist system. An outsized number of rear-end collisions might be prevented with a hand brake assist – even in the case of intersecting and oncoming traffic – within the not-too-distant future.
•  The Bosch view assist may be a driver assistance system that helps out drivers when changing lanes and warns them of dangers.
•  ZF presents solutions that will help make trucks safer in inner-city traffic using a radar-based turn assist system to watch the whole right vehicle side. The system tackles the challenge of blind spots given by current mirror configurations. The driving force is given a warning as soon as other road users approach the blind spot or collision zone. This can be developed in the Side Vision Assist system, which can further incorporate images from the camera. 

DETAILED SEGMENTATION OF THE GLOBAL BLIND SPOT MONITOR MARKET INCLUDED IN THIS REPORT

This research report on the global blind spot monitor market has been segmented and sub-segmented based on application, type, product and region

By Application

• OEM
• After Market

By Type

•  Passenger
• Commercial​​​​​​​

 By Product

• RADAR Sensor
• Ultrasonic Sensor

​​​​​​​By Region

• North America 
• Europe 
• Asia Pacific 
• Latin America
• Middle East and Africa