Global Automotive Blind Spot Detection Market: North America Accounts for Nearly 50% Revenue Share

The global automotive blind spot detection market is projected to grow at a steady pace during the assessment period 2017-2025, according to a new research report added to the repository of Market Research Reports Search Engine (MRRSE). The report titled “Automotive Blind Spot Detection Market – Global Industry Analysis, Size, Share, Growth, Trends, And Forecast 2017 – 2025” offers detailed insights on the key factors impacting the global market.

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According to the report, increasing focus on incorporating safety equipment in automotive industry is boosting the adoption of blind spot detection systems. Consumers are looking for ease of use and convenience while buying a passenger or commercial vehicle, and this has compelled OEMs to equip their offerings with latest features. The report projects that broader trends pertaining to driver safety and favorable government regulations will boost market growth during the assessment period.

The report has segmented the global market on the basis of component, region, and vehicle. By component, the key segments include ultrasonic and RADAR – of these, demand for RADAR systems continues to be higher than ultrasonic sensors on account of their advanced features. RADAR sensors have a longer range in sensing vehicles in the vicinity of an automotive. Further, the reduction in cost of RADAR sensors is also likely to boost their adoption in the automotive industry.

By application, passenger cars will continue to account for higher revenue share of the market. Increasing consumer awareness, emergence of middle class in Asia Pacific, higher disposable income, and technological advancements are the key macroeconomic factors that are expected to drive sales of blind spot detection systems in passenger cars segment.

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North America is the largest market for automotive blind spot detection systems, with US accounting for the bulk of the demand. The US automotive industry is focusing on enabling a higher degree of convenience and safety in their offerings, and this is promoting the deployment of advanced features, such as blind spot detection equipment. North America accounts for nearly half of the revenue share of the global market, and it is highly likely that the status quo will remain unchanged during the assessment period. In addition to North America, Asia Pacific is another lucrative market for automotive blind spot detection systems. China and India are emerging as two of the leading markets for automobiles, and key companies in the market are focusing on consolidating their position in these markets.

The report also includes a detailed competitive landscape that profiles some of the leading players in the market. The key companies in the automotive blind spot detection market include Siemens AG, vRobert Bosch GmbH, Mobileye, ZF Friedrichshafen AG, Continental AG, Ficosa Internacional SA, Smartmicro, Autolive Inc., Delphi Automotive LLP, Preco Electronics, Valeo, Xiamen Autostar Electronics CO. Ltd., and others.

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