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Global Blind Spot Solutions Market Analysis & Forecast to 2027 - Advent of Autonomous Vehicles & Increasing Demand for Semi-Autonomous Vehicles Drives Growth

Dublin, June 24, 2019 (GLOBE NEWSWIRE) -- The "Blind Spot Solutions Market by Product Type (BSD, Park Assist, Backup Camera, Surround View & Virtual Pillar), Technology (Camera, radar & Ultrasonic), End Market (OE & Aftermarket), Electric Vehicle, Vehicle Type & Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

Global Blind Spot Solutions Market is Projected to Grow at a CAGR of 13.2%

Advent of autonomous vehicles and increasing demand for semi-autonomous vehicle

The demand for semi-autonomous vehicles has increased significantly in the last few years, which has accelerated the growth of the blind spot solutions market. Semi-autonomous vehicles are self-driven vehicles with the ability to sense their environment and navigate to the destination with partial human-based physical input or voice commands. The main reason for the increasing adoption of semi-autonomous and autonomous vehicles is increased safety. Therefore, a large number of safety features will be integrated into such vehicles.

In semi-autonomous vehicles, the environment around the vehicle is detected through sensors such as radar, ultrasonic, LiDAR, and cameras. Blind spot solutions such as blind spot detection system, surround view camera, and digital side view systems can also be used to sense the environment better. Hence, increasing adoption of semi-autonomous and autonomous vehicles will boost the blind spot solutions market.

Asia Oceania is projected to be the fastest growing market

In recent years, the automotive industry has witnessed higher growth in terms of vehicle production in Asia Oceania than in the matured markets of Europe and North America. Asia Oceania has emerged as a hub for automotive manufacturing, given the nascent stage of the market, state-promoted support, and cost advantages for OEMs. The growth of the automotive optoelectronics market in the Asia Oceania is expected to be driven by the increasing government regulations and promotions about road safety.

The R&D activities on autonomous vehicles are continuously growing in the region. China and Japan are the leading countries from the technology perspective. Japan is planning to start truck platooning tests in 2018 and aims to commercialize autonomous trucks by 2022. This will boost the growth of blind spot solutions market in the Asia Oceania region.

Passenger car is expected to be the largest vehicle type segment in the blind spot solutions market

The passenger car segment is estimated to contribute to the largest share of the blind spot solutions market. The passenger car consumers are becoming increasingly aware of vehicle safety. Owing to the growing demand for safer and more comfortable vehicles, the passenger car segment is projected to lead the market in 2027.

Governments around the world are planning to mandate active safety systems in passenger cars. In the US and Canada, backup cameras are mandated for cars manufactured from May 2018 onward. These mandates are likely to drive the blind spot solutions market for passenger cars. The increasing demand for luxury vehicles in developing countries is another driving factor for the growth of blind spot solutions market.

OE market is expected to be the largest and fastest growing segment by end market type

New vehicles are equipped with many active and passive safety systems. Blind spot solutions feature as active safety systems. The initial stage of installation by OEMs is a crucial phase for the blind spot solutions market. Most OEMs offer many standard safety and convenience features that include blind spot solutions. In addition, optional high-end features such as a surround view system, intelligent park assist, and intervention system for blind spots are customizable according to the requirement. For instance, Toyota Sequoia offers blind spot detection and surround view system as standard features.

On the other hand, Toyota Avalon offers a surround view camera as an optional feature. Nowadays, as a product differentiation strategy, OEMs are increasingly focusing on providing safety and convenience features as a standard fitment in vehicles along with aftersales services. In addition, increasing government mandates are pushing OEMs to provide many safety features safety as standard fitment. This will boost the OE market for blind spot solutions.

Key Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered in the Study
1.4 Currency & Pricing
1.5 Package Size
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.2.1 Key Secondary Sources
2.2.2 Key Data From Secondary Sources
2.3 Primary Data
2.3.1 Sampling Techniques & Data Collection Methods
2.3.2 Primary Participants
2.4 Market Size Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Data Triangulation
2.6 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Blind Spot Solutions Market
4.2 Blind Spot Solutions Market: Major Countries
4.3 Blind Spot Solutions Market in Europe, By Product Type and Country
4.4 Blind Spot Solutions Market, By Technology Type
4.5 Blind Spot Solutions Market, By End Market
4.6 Blind Spot Solutions Market, By Electric Vehicle Type

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Introduction of Stringent Government Programs Pertaining to Vehicle Safety
5.2.1.2 Increasing Consumer Demand for Active Safety Systems
5.2.1.3 Increasing Adoption of Smart Mirrors in Automotive Industry
5.2.1.4 Increasing Demand for Premium Vehicles
5.2.2 Restrains
5.2.2.1 Regulations Pertaining to Mirror-less Vehicles
5.2.2.2 Usage of Radar Detectors Considered Illegal in Some Countries
5.2.3 Opportunities
5.2.3.1 Advent of Autonomous Vehicles and Increasing Demand for Semi-Autonomous Vehicle
5.2.3.2 High Growth Potential of Multi-camera Systems in Emerging Markets
5.2.4 Challenges
5.2.4.1 Constraints in Real-Time Image Processing in Surround View Systems
5.2.4.2 Threat of Security and Environmental Constraints

6 Industry Trends
6.1 Value Chain Analysis
6.2 Impact of Semi-Autonomous and Autonomous Vehicles on Blind Spot Solutions Market
6.3 Marco Indicator Analysis
6.3.1 Introduction
6.3.2 Macro Indicators Influencing the Automotive Blind Spot Solutions Market for Top 3 Countries
6.3.2.1 United States
6.3.2.2 Germany
6.3.2.3 Japan
6.4 Porter's 5 Forces

7 Blind Spot Solutions Market, By Product Type
7.1 Introduction
7.2 Research Methodology
7.3 Blind Spot Detection System
7.3.1 Presence of Many Luxury Vehicle Manufacturer in the Europe is Expected to Drive the Market
7.4 Backup Camera System
7.4.1 The Mandate for Backup Camera System in US and Canada Will Propel the North American Market.
7.5 Park Assist System
7.5.1 OEMs are Offering Park Assist System as A Standard Feature in European Region
7.6 Surround View System
7.6.1 Increasing Acceptance of Semi-Autonomous Vehicle Across Globe to Drive Surround View System Market
7.7 Virtual Pillars
7.7.1 Demand for Safety Features to Drive the Virtual Pillar Market
7.8 Key Industry Insights

8 Blind Spot Solutions Market, By Technology Type
8.1 Introduction
8.2 Research Methodology
8.3 Camera-Based Systems
8.3.1 Fast Paced Development of Camera Technology in Automotive Industry to Drive the Camera Based System Market
8.4 Radar-Based Systems
8.4.1 High Accuracy and Efficiency of Radars to Drive Radar Based Blind Spot Solutions Market
8.5 Ultrasonic-Based Systems
8.5.1 Rising Adoption of Park Assist System to Propel Ultrasonic Based System Market
8.6 Industry Insights

9 Blind Spot Solutions Market, By End Market
9.1 Introduction
9.2 Research Methodology
9.3 OE Market
9.3.1 Government Mandates to Drive the OE Blind Spot Solutions Market
9.4 Aftermarket
9.4.1 Asia Oceania is Estimated to Lead the Blind Spot Solutions Aftermarket
9.5 Key Industry Insights

10 Blind Spot Solutions Market, By Electric Vehicle Type
10.1 Introduction
10.2 Research Methodology
10.3 BEV
10.3.1 Rising Concern About Automotive Emission to Drive BEV Market
10.4 FCEV
10.4.1 North America to Lead FCEV Blind Spot Solutions Market
10.5 HEV
10.5.1 Asia Oceania to Lead the HEV Blind Spot Solutions Market
10.6 PHEV
10.6.1 North America to Lead PHEV Blind Spot Solutions Market
10.7 Key Industry Insights

11 Blind Spot Solutions Market, By Vehicle Type
11.1 Introduction
11.2 Research Methodology
11.3 Passenger Car
11.3.1 Europe to Lead Passenger Car Blind Spot Solutions Market
11.4 Light Commercial Vehicle (LCV)
11.4.1 High Demand of LCVs in US to Drive North American Blind Spot Market for LCV
11.5 Truck
11.5.1 Blind Spot Solutions Market for Truck Segment is Projected to Grow the Fastest
11.6 Bus
11.6.1 High Demand for Public Transportation to Drive Bus Blind Spot Solutions Market
11.7 Key Industry Insights

12 Blind Spot Solutions Market, By Region
12.1 Introduction
12.2 Asia Oceania
12.2.1 China
12.2.1.1 Growing Vehicle Production in China is Expected to Drive the Blind Spot Solutions Market in the Country
12.2.2 India
12.2.2.1 Increasing Government Focus on Vehicle Safety to Drive the Indian Blind Spot Solutions Market
12.2.3 Japan
12.2.3.1 Rising Adoption of Advance Technology in Vehicles in Japan to Drive the Market
12.2.4 South Korea
12.2.4.1 OEMs Focus on Safety Related System in South Korea to Drive the Market
12.2.5 Thailand
12.2.5.1 Backup Camera System to Lead Thailand Market
12.2.6 Rest of Asia Oceania
12.2.6.1 Backup Camera System to Lead Rest of Asia Oceania Market
12.3 Europe
12.3.1 France
12.3.1.1 Increasing Demand for Premium Segment Vehicles to Drive Blind Spot Solutions Market in France
12.3.2 Germany
12.3.2.1 The Presence of Major Automobile Manufacturers and Its Focus on the Development of Advanced Technology to Drive German Blind Spot Solutions Market
12.3.3 Russia
12.3.3.1 Increasing Focus of OEMs to Cater to the Demand in the Russian Market has Propelled the Russian Automotive Industry
12.3.4 Spain
12.3.4.1 Backup Camera System Market in Terms of Volume to Lead Spain Market
12.3.5 Turkey
12.3.5.1 Increasing Per Capita Income Will Increase the Purchasing Power
12.3.6 UK
12.3.6.1 Increased Production of Vehicles Equipped With Advanced Electronic Components to Drive UK Market
12.3.7 Rest of Europe
12.3.7.1 Significant Vehicle Production and Technologically Advanced Automotive Industry to Drive Rest of Europe Market
12.4 North America
12.4.1 Canada
12.4.1.1 Canadian Backup Camera System Market is Driven By the Mandate the System
12.4.2 Mexico
12.4.2.1 Growing Vehicle Production and Rising Vehicle Export is Expected to Drive Mexican Market
12.4.3 US
12.4.3.1 Fast Pace Development of Semi-Autonomous and Autonomous Vehicle to Drive US Market
12.5 Rest of the World (RoW)
12.5.1 Brazil
12.5.1.1 Surround View System Market is Projected to Be the Fastest Growing
12.5.2 Iran
12.5.2.1 Backup Camera System Market is Estimated to Be the Largest
12.5.3 Rest of RoW
12.5.3.1 Park Assist Market is Estimated to Be Second Largest

13 Competitive Landscape
13.1 Overview
13.2 Market Ranking Analysis
13.3 Competitive Scenario
13.3.1 New Product Developments
13.3.2 Collaborations/Joint Ventures/Supply Contracts/Partnerships/Agreements
13.3.3 Expansions
13.3.4 Mergers & Acquisitions
13.4 Competitive Leadership Mapping
13.4.1 Visionary Leaders
13.4.2 Innovators
13.4.3 Dynamic Differentiators
13.4.4 Emerging Companies

14 Company Profiles
14.1 Bosch
14.2 Continental
14.3 Denso
14.4 Valeo
14.5 Aptiv
14.6 Magna
14.7 Autoliv
14.8 Ficosa
14.9 ZF Friedrichshafen
14.10 Gentex
14.11 Samvardhana Motherson
14.12 Other Key Players
14.12.1 Asia Oceania
14.12.1.1 Murakami Corporation
14.12.1.2 Renesas
14.12.1.3 Hyundai Mobis
14.12.1.4 Samsung Electro Mechanics
14.12.1.5 Sl Corporation
14.12.1.6 Stonkam
14.12.2 Europe
14.12.2.1 Wabco
14.12.2.2 Hella
14.12.3 North America
14.12.3.1 Ambarella Inc.
14.12.3.2 Harman
14.12.3.3 Muth Mirror Systems
14.12.3.4 Voxx International
14.12.4 Rest of the World
14.12.4.1 Mobileye
14.12.4.2 Logigo Automotive

For more information about this report visit https://www.researchandmarkets.com/r/obshqt

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