Spotless Safety and Smart Alerts: Automotive Blind Spot Detection System Market Set to Soar Past USD 8.89 Billion by 2030
The global Automotive Blind Spot Detection System market size is expected to reach USD 8.89 billion by 2030 and exhibit a CAGR of 12.24% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing awareness and concern for road safety, growing demand for advanced driver assistance systems (ADAS), and rising number of vehicle accidents caused by blind spot-related issues fuel the market’s growth.
Westford, USA, July 03, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Automotive Blind Spot Detection System market, increasing integration of artificial intelligence (AI) and machine learning (ML) technologies, development of more compact and streamlined blind spot detection sensors, the emergence of 360-degree surround view systems, incorporation of radar and LiDAR technologies for improved accuracy, integration of blind spot detection with other ADAS features, development of wireless communication protocols for seamless connectivity, the introduction of augmented reality (AR) and heads-up display (HUD) in blind spot detection systems are the trends that aid in the market’s growth.
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Browse in-depth TOC on “Automotive Blind Spot Detection System Market”
- Pages – 165
- Tables – 63
- Figures – 75
Automotive Blind Spot Detection System is a convenient and time-saving way to shop for groceries. You can order your groceries online from the comfort of your own home and have them delivered to your door or picked up at a designated location. This is a great option for people who are busy, have mobility issues, or simply don’t enjoy grocery shopping.
Prominent Players in Automotive Blind Spot Detection System Market
- Amazon Fresh
- Walmart Grocery
- Instacart
- Kroger
- Aldi
- Costco
- Target
- FreshDirect
- Peapod
- Shipt
- Thrive Market
- HEB
- Publix
- Safeway
- Wegmans
- Albertsons
- Trader Joe’s
- Fairway Market
- Whole Foods Market
- Amazon Prime Now
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Radar-based Technology Type Demand to Grow Substantially in the Forecast Period
Radar-based technology dominated the global market owing to its high accuracy and reliability. It also has a longer detection range compared to other technologies, such as camera-based or ultrasonic-based systems. This extended range allows for early detection of objects approaching from the blind spot, providing more time for the driver to react.
Passenger Vehicle is the Leading Application Segment
In terms of application, the passenger vehicle segment is the leading segment due to the high consumer adoption. In addition, governments and regulatory bodies across the world are implementing stringent safety regulations for passenger vehicles. These regulations often include mandates for integrating advanced driver assistance systems (ADAS), including blind spot detection. The need to comply with these regulations further drives the sales of blind spot detection systems in the passenger vehicle segment.
Asia-Pacific is the leading Market Due to the Growing Automotive Industry
Region-wise, Asia-Pacific is one of the largest growing markets with a huge emphasis on the automotive industry. Governments in the Asia Pacific region are implementing stringent safety regulations to reduce road accidents and improve vehicle safety. These regulations often include mandates for incorporating advanced safety systems like blind spot detection. The enforcement of such regulations drives the demand for blind spot detection systems in the region.
A recent report thoroughly analyzes the major players operating within the Automotive Blind Spot Detection System market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Automotive Blind Spot Detection Systems.
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Key Developments in Automotive Blind Spot Detection System Market
- In March 2023, Delphi Technologies acquired ADASENS Automotive GmbH, a developer of radar-based blind spot detection systems.
- In April 2023, Valeo acquired Smart Eye AB. Smart Eye AB is a leading provider of automotive driver monitoring systems, which can be used to support blind spot detection systems. This acquisition gives Valeo a strong presence in the automotive blind spot detection system market.
Key Questions Answered in Automotive Blind Spot Detection System Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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