This industry research report outlines the market size and forecast for the blind spot detection devices until 2019. The research report segments this market by OEM and aftermarket. It also provides the market shares for APAC, Americas, and EMEA. The leading vendors analyzed by this report include Auto-I, Continental, Valeo, Xiamen Autostar Electronics, and ZF TRW.
Technavio’s market research analysts estimate the global automotive BSD market to grow at a CAGR of around 21% between 2015 and 2019. Recent advances in technology in the global automobile market have augmented the position and importance of safety systems in the market. The Americas dominate the global market for automotive BSDs, accounting for 45% of the total market share. The rise in the number of road accidents, owing to abrupt changing of lanes by the driver without noticing and analyzing the rear-view and blind spot, is a major factor for increased BSD adoption in this region.
The new market research report from Technavio provides a breakdown and analysis of the automotive BSD segments by technology.
“Automobile manufacturers are aiming towards achieving zero road fatalities and consumer safety, which has augmented the adoption of collision avoidance and driver assistance systems. The manufacturers are collaborating with automotive safety and automotive camera manufacturers, and are offering radar and cameras in vehicles. This integration is one of the most optimum safety solutions for consumers and vehicles, which also includes pedestrian detection and protection systems, BSD, FCW, ACC, LDW, lane assistance, and parking assistance,” says Siddarth Jaiswal, Lead Analyst, Automotive, Technavio Research.
Consumers are increasingly opting for BSD systems that are available in the aftermarket, owing to the surge in safety concerns. For example, Gosher’s BSD system comprises two rear sensors mounted on each side of the rear bumper, warning lights installed in the interior and an audible alarm to warn of approaching vehicles or obstructions. The BSD sensors alert the driver about vehicles approaching from behind that are not visible in the rear-view mirror.
The key vendors in the global automotive BSD market include Auto-I, Continental, Valeo, Xiamen Autostar Electronics, and ZF TRW. This market is primarily concentrated with the presence of few vendors in the market. Rising emphasis of the automobile manufacturers, consumers, and government transport authorities on both passenger and vehicle safety, is boosting the adoption of BSDs. Also, all the market players and automobile manufacturers are focusing on reducing the cost of BSD systems, owing to the compulsory installation of safety systems in mid-segment vehicles by the government transport authorities and vehicle assessment programs.
A more detailed analysis is available in the Technavio report, Global Automotive BSD Market 2015-2019.
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