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Global Blind Spot Detection Market Valuation Reaching US$ 8.1 Bn By 2032, FMI

In 2021, the global blind spot detection market was estimated to be worth $1.9 billion. Blind spot detection system sales are expected to grow at a staggering 13.9 percent CAGR, with a market valuation of US$ 8.1 billion by 2032. According to the report, total sales of camera sensors and radar sensors are expected to reach US$ 1.7 billion.

From 2017 to 2021, sales of blind spot detection increased at an 8.6 percent CAGR, with a significant drop in sales in 2020 due to the outbreak of the COVID-19 pandemic. China, Germany, Japan, the United States, Mexico, and India accounted for a sizable share of global blind spot detection system demand.

Because of the high number of road accidents, pedestrian safety is becoming a top priority. With the increasing complexity of traffic and the increasing number of vehicles on the road, there is a growing demand for technologically equipped vehicles with sensors.

Passenger vehicles and heavy commercial vehicles are expected to be outfitted with ADAS systems such as blind-spot detection at a rapid pace shortly. Blind-spot detection (BSD) systems can be a useful technology for nighttime drivers.

The market for blind-spot monitors is expanding as a result of rising premium vehicle demand, increased government investment, and widespread adoption of active safety systems and vehicle automation.

Furthermore, rising road safety awareness, the rapid development of multi-camera systems, and increased use of sensor technology in vehicles are expected to drive sales of blind-spot detection systems even further.

Visibility around corners has been a problem for autonomous and semiautonomous vehicles. This competition provides an opportunity to develop high-quality, premium blind spot detection technology that enhances vehicle perception.

For heavy commercial vehicles, a simple and quick approach for blind-spot monitoring using computer vision is still being developed, which may present opportunities for BSD manufacturers. This feature is critical and can help heavy commercial vehicle drivers in harsh conditions.

The blind-spot detection market is dominated by North America and Europe owing to the high adoption of blind-spot monitoring systems in premium and luxury vehicles.

Due to the urgent need to detect and track potential danger, automotive vision systems such as blind-spot detection are becoming increasingly important. These systems deliver real-time data to support a wide range of services, including people recognition and automatic parallel parking, in addition to providing critical input for high-level warning functions like unobserved traffic.

Conventional vehicles have camera device technology which causes distorted images to appear on the infotainment screen. Thus, advanced image sensor technology with high-resolution technology has been developed by key OEMs. Growing demand for complementary metal-oxide-semiconductor (CMOS) image sensors to improve vehicle safety will fuel sales.

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
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