The Automotive Blind Spot Detection System Market is Predict to reach USD 6.6 Billion by 2031, at a CAGR of 10.3%

Automotive Blind Spot Detection System Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Automotive Blind Spot Detection System Market size is expected to reach $6.6 billion by 2031, rising at a market growth of 10.3% CAGR during the forecast period.

As technology costs decrease and economies of scale improve, BSD systems are included in entry-level and mid-range vehicle models. This broader inclusion makes advanced safety features accessible to a wider range of consumers. Automotive manufacturers are integrating BSD systems into new vehicle platforms and models in their development process. This early adoption ensures that new vehicles are equipped with the latest safety technologies.

The ICE segment is registering a CAGR of 10 % during the forecast period. The ICE propulsion segment represents most of the automotive market, with many vehicles still using traditional combustion engines. The extensive presence of ICE vehicles creates a significant demand for safety features like BSD systems.

The Radar segment led the Global Automotive Blind Spot Detection System Market by Technology in 2023; thereby, achieving a market value of $3.2 Billion by 2031. Radar systems detect objects in a vehicle’s blind spots, especially in various driving conditions such as low light, fog, rain, or snow. Radar can penetrate through environmental obstructions and provide reliable detection, making it an ideal choice for BSD systems.

The Passenger Cars segment is growing at a CAGR of 10 % during the forecast period. Passenger cars account for a large share of vehicle ownership globally. With millions of passenger cars on the road, the demand for safety features like BSD systems is high to address the needs of a broad consumer base.

Full Report: https://www.kbvresearch.com/automotive-blind-spot-detection-system-market/

The Asia Pacific region dominated the Global Automotive Blind Spot Detection System Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2.5 Billion by 2031. The Europe region is anticipated to grow at a CAGR of 9.6% during (2024 - 2031). Additionally, The North America region would witness a CAGR of 10.1% during (2024 - 2031).

List of Key Companies Profiled

• Robert Bosch GmbH
• Continental AG
• Denso Corporation
• ZF Friedrichshafen AG
• Valeo SA
• Infineon Technologies AG
• NXP Semiconductors N.V.
• Mercedes-Benz Group AG
• Magna International, Inc.
• Intel Corporation
• Forvia SE
• Aptiv PLC
• Autoliv, Inc.

Automotive Blind Spot Detection System Market Report Segmentation

By Propulsion Type

• ICE
• Electric

By Technology

• Radar
• Camera
• Ultrasonic

By Vehicle Type

• Passenger Cars
• Commercial Vehicles

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Automotive Blind Spot Detection System Market Size 2031

• September-2024
• 143 Pages

LAMEA Automotive Blind Spot Detection System Market Size 2031

• September-2024
• 154 Pages

Europe Automotive Blind Spot Detection System Market Size 2031

• September-2024
• 153 Pages

Asia Pacific Automotive Blind Spot Detection System Market Size 2031

• September-2024
• 154 Pages