The blind spot monitor is an automobile based sensor device that senses other vehicles located to the driver’s side. Warnings from the system are generated and can be in forms such as audible, tactile, visual or vibrating. However, blind spot monitors may do more than monitoring from the sides and rear of the automobile. They may also incorporate cross traffic alert, which warns person backing out of a parking area when traffic is reaching from sides. Main feature of blind spot monitoring is a key technology among driver aids that provide 360 degrees of electronic coverage around car and safety of circle also includes adaptive cruise control, rare and front parking sensor, parking cameras, and lane departure warning. Increased safety of the drivers will consequently encourage various OEMs to manufacture parts which provides the features like high strength and guide the driver by using advanced safety technologies.
The factors expected to boost the growth of this market comprise growing industrialization in the emerging regions with increasing government investments, advanced technologies, low-cost labor, and growing disposable incomes. In addition, the government policies which favor the BSM (blind spot monitoring) system market, substitute sources for the automobile production, and growing demand for automated automobiles are expected to provide future opportunities for growth of this market. Furthermore, rise in number of road accidents, and increasing awareness about road safety is the major factors spurring the market growth. Moreover, higher cost of technology, and availability of system in luxury vehicles is expected to hinder the growth of market.
The market can be bifurcated on the basis of type, application and geography. By type, BSM (blind spot monitoring) system market can be segmented into commercial vehicles and passenger vehicles. Regulations of government have made passenger safety a primary concern for all the automotive manufacturers. Safety systems assist in keeping car under control, to prevent vehicle accidents, and protect passengers from injuries. These systems are fully automated so that human error can be compensated; therefore such devices help and prevent from crash. There are various systems involved such as electronic control units like, adaptive cruise control, night vision systems, engine stability programs, LDWSs, and intelligent parking assistance systems are increasingly being used in automobiles. Based on application, BSM (blind spot monitoring) system market can be segmented into OEM and aftermarket. OEM is anticipated to continue as the largest end-user in the global blind spot monitoring market over the forecasted phase. In 2017, this end-user type holds more than 90% of the global market. Due to high demand for blind spot detection in luxury vehicles, OEM segment is expected to continue its growth in the global blind spot monitoring market.
The market research study on "Blind Spot Monitoring Market (Type: Passenger, Commercial; Product: RADAR Sensor, Ultrasonic Sensor, Application: OEM, After Market) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2025”, offers detailed insights on global blind spot monitoring market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global blind spot monitoring market, its type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global blind spot monitoring market size and volume, and segment markets by type, product, application, and geography along with the information on companies operating in the market. The BSM market analysis is provided for major regional markets including North America, Europe, China, Southeast Asia, Japan and India followed by major countries. For each region, the market size and volume for different segments has been covered under the scope of report. Europe and North America is the largest market share of automotive blind spot detection system as this both countries are known as the homes of major blind spot detection system. In addition, stringent rules of government such as “The United States New Car Assessment Program (US NCAP)” are sustaining the demand for advanced safety features in the automobiles including blind spot detection. Asia-Pacific region is anticipated to be the fastest growing markets during the upcoming period, mainly driven by growth from Japan, India and China due to rise in production of premium vehicles, development in safety standards, and stringent rules by governments to mitigate fatal accidents.
Some of the major players involved in BSM (blind spot monitoring) system market include Denso, Continental AG, Robert Bosch GmbH, TRW Automotive, Delphi, Autoliv Inc. and Aisin Seiki, among others.
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