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Market research analysts at Technavio predict that the global automotive blind spot detection market will grow steadily during the next four years and post an impressive CAGR of more than 24% by 2020. This market research analysis identifies the increased adoption of automotive safety systems by carmakers as one of the primary growth factors for the blind spot detection system market. With the introduction of stringent regulations that have made passenger safety one of the major concerns, there will be an increased adoption of active safety systems by automotive manufacturers to prevent vehicle accidents and protect passengers from injury. Since active safety systems are fully automated, they aid in eliminating human error and also help prevent or minimize the effects of a crash. As a result, automotive manufacturers will start offering vehicles equipped with several active safety systems including anti-lock braking systems (ABS), engine stability programs, adaptive cruise control, blind spot detection systems, night vision systems, LDWSs, and intelligent parking assistance systems.
Though the market is currently dominated by the Americas, the presence of a number of automotive safety system suppliers in the region such as Bosch and Continental, the growth of the automotive industry, and the introduction of policies by the European Commission to encourage healthy competitiveness among the players in the automotive industry, will bolster the market’s growth prospects in EMEA in the coming years. As a result, EMEA will be the major revenue contributor to the blind spot warning system market by the end of the forecast period.
The market consists of a considerable number of automotive blind spot detection manufacturers and appears to be fragmented. Vendors existing in the market for a significant period acquire several advantages which makes it extremely difficult for new vendors to enter the market. One of the leading blind spot alert system vendors Autoliv, has an enhanced geographical presence and a wide product portfolio and manufactures automotive safety equipment including active safety systems, passive safety systems, airbags, seat belts, and steering wheels.
The leading vendors in the market are -
The other prominent vendors in the market are Ficosa, Hella, ZF-TRW, Valeo, and Samvardhana Motherson Reflectec.
Since the market is currently at its infant stages, the OEMs outnumber the aftermarket suppliers. The emergence of new aftermarket players and the increasing need for the installation of vehicle blind spot detection systems in the entry-level user segment will considerably increase the revenue shares of the aftermarket players. However, the OEM segment will continue to dominate the market throughout the forecast period.
This market study estimates that the luxury vehicle segment accounted for the major shares and dominated the industry during 2015. This is mainly due to the rise in number of auto electronics in luxury level vehicles. According to analysts, this segment will continue to dominate the car blind spot detection system market during the next four years as well.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end user
PART 07: Market segmentation by vehicle type
PART 08: Market segmentation by geography
PART 09: Market drivers
PART 10: Market challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
PART 15: Explore Technavio
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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