Automotive Blind Spot Detection System Market to Expand at 18.7% CAGR from 2023 to 2030; ADI’s SerVision Rolled out the Baware BSD System to Strengthen Industry Foothold

The global automotive blind spot detection system market size stood at USD 6.02 billion in 2022. The market value is slated to rise from USD 7.22 billion in 2023 to USD 23.97 billion by 2030 at a CAGR of 18.7% during 2023-2030. The expansion is due to the growing adoption of connected vehicle technology. The market growth is further driven by the increasing deployment of cloud connectivity, vehicle-to-vehicle (V2V) communication, joint perception, vehicle-to-infrastructure (V2I) communication, machine learning, and data analytics technologies.

Fortune Business Insights™ presents this information in its report, titled “Automotive Blind Spot Detection System Market Size, Share & COVID-19 Impact Analysis, By Component Type (Ultrasonic, RADAR, and Camera), By Vehicle Type (Passenger Cars and Commercial Vehicles), and Regional Forecasts, 2023-2030”.

Industry Share Affected Due to Enforcement of Travel Restrictions amid COVID-19 Pandemic

The industry growth was impacted by the enforcement of lockdown and travel restrictions and strict norms associated with social distancing. These measures impacted the movement of raw materials and also led to the complete halt of various OEMs. The market expansion was also affected by wage cuts and unemployment.

ADI’s SerVision Launches Baware BSD System for Identifying Blind Spots

In March 2021, ADI Systems Group’s SerVision rolled out the Baware BSD system, a new system for identifying blind spots for drivers. Based on radar technology, the solution gives a driver an audio and visual alert regarding not to change lanes. 

The Baware system is installed on the vehicle’s rear window. The process of installing other radar technology-based BSD systems requires disassembling the rear bumper in a lengthy and complex installation process.  

Soaring Consumer Inclination toward Vehicle Safety to Impel Industry Expansion

Automotive consumers are depicting a greater inclination toward advanced safety features in their vehicles. This is set to propel the automotive blind spot detection system market growth in the coming years.

However, the installation of blind spot detection sensors behind bumper covers may hamper industry expansion to a certain extent. This is mainly due to the potentiality of inaccurate readings.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/automotive-blind-spot-detection-system-market-102044

Leading Companies Ink Collaborations to Strengthen Industry Foothold

Major market players are centered on adopting a range of agreements for reinforcing their industry positions. These include merger agreements, acquisitions, partnerships, and collaborative agreements. Some of the other initiatives include the rollout of new solutions and an increase in R&D activities.

Key Players Profiled:

• Robert Bosch GmbH (Germany)
• Continental AG (Germany)
• Denso Corporation (Japan)
• Aptiv (Ireland)
• Autoliv Inc. (Sweden)
• Veoneer (Sweden)
• Valeo SA (France)
• NXP Semiconductors NV (Netherlands)
• Texas Instruments Incorporated (U.S.)
• ZF Friedrichshafen AG (Germany)
• Infineon Technologies AG (Germany)
• SerVision (Israeli)

Notable Industry Development

• January 2022 – Texas Instruments launched the AWR2944 radar sensor, expanding its automotive offerings. The move would help companies improve the sensing of advanced driver assistance systems.  

Further Report Findings

• The Asia Pacific region provides the advantage of rising raw material availability at a low cost. This factor is anticipated to augment the automotive blind spot detection system market share over the estimated period.
• The North America market is expected to depict appreciable expansion over the forecast period. The surge is due to the increasing adoption of sensor-based technologies in the automotive industry.
• The market share in Europe is anticipated to register substantial growth over the estimated period. The expansion is on account of favorable initiatives that promote the easy integration of safety features in automobiles.
• By component type, the market for automotive blind spot detection system is segmented into RADAR, camera, and ultrasonic. The RADAR segment is set to exhibit notable expansion over the study period. The rise is impelled by the soaring automotive safety installation demand.
• Based on vehicle type, the market for automotive blind spot detection system is subdivided into passenger cars and commercial vehicles. The passenger cars segment is slated to register substantial growth over the estimated period. The surge is impelled by the growing enforcement of stringent regulations associated with the deployment of driver assistance systems.

Table of Segmentation