The Global Market for Blind Spot Detection (BSD) Systems is Projected to Reach US$2.5 Billion by 2020

Strong Emphasis on Safety Fuels Sales of Blind Spot Detection (BSD) Systems, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Blind Spot Detection (BSD) Systems market. The global market for Blind Spot Detection (BSD) Systems is projected to reach US$2.5 billion by 2020, driven by auto OEMs engineering efforts in the pursuit of safety, and growing consumer awareness over the importance of safe driving.  

Automotive safety technologies are playing incrementally bigger roles in pushing up customer satisfaction. Consumers are increasingly willing to pay for vehicle safety, against a backdrop of growing awareness and improved understanding of the value and importance of vehicle safety features. The growing number of accidents worldwide, rise in the number of vehicle recalls by OEMs due to technical glitches in safety, and growing interest in autonomous driving, are factors driving the importance of vehicle safety over and above features such as price, appearance, durability, automatic transmission and route navigation systems. Although new vehicle purchase decisions are influenced by multiple factors, the growing number of consumers making educated, well informed decisions is poised to benefit automotive safety technologies in general and blind spot detection systems in particular. Automakers in response are investing in emerging vehicle safety technologies and are also promoting advanced vehicle safety technologies as desirable features in a car.

Defined as the area behind and around the vehicle that cannot be seen by the driver through the front rear and side view mirrors, blind spots are a potential safety hazard. Poor visibility and/or inability to see can create misperceptions of speed and distance and result in accommodation errors. “Failure to see” is therefore bringing the issue of blind spots into center stage. Blind spots impair the driver’s decision making process while backing the car, while merging onto a freeway and while changing lanes. In the United States, over 500 individuals are killed and over 20,000 injured due to backover crashes caused by blind spots. Major factors contributing towards the increase in blind spot related accidents include rise in aging baby boomer drivers and their lower agility in vision and perception, increase in the vehicle parc of SUVs, pickups, minivans, and other larger vehicles with larger blind zones, and unsafe vehicle design trends such as thicker rear support pillars, high rear decks, and short rear glass.

Although automakers are now seeking to improve automobile designs in a manner that alleviates the problem, blind spots will continue to remain inherent in vehicle designs since achieving complete 360 degree visibility is an engineering impracticability. The focus as a result is now on developing effective blind spot mirrors, backup cameras, radar units and other blind spot monitoring systems to overthrow the visibility challenges caused by the limitations in human field of vision. Demand growth for BSD system is forecast to be led by the implementation of new and stringent safety legislations, spiraling road safety concerns, exploding vehicle population, rise in accidents and escalation in social and financial burden caused by accidents. Especially poised to benefit the market are factors such as OEM focus on big bang disruptive technologies, stable automobile production trends, and sharp decline in oil prices and the ensuing higher sales of automobiles. Rising passenger car density and aging vehicles are major factors spurring growth in aftermarket fitments of BSD systems.  

As stated by the new market research report on Blind Spot Detection (BSD) Systems, Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 26 % over the analysis period, led by factors such as rising penchant for luxury cars in countries such as China and India, developments in road infrastructure, increase in per capita ownership of cars in Southeast Asian countries and growing interest in advanced driver assist technologies.   

Major players covered in the report include ADASENS Automotive GmbH, Aisin Seiki Co., Ltd., Autoliv Inc., Continental Automotive GmbH, Delphi Automotive PLC, Denso Corporation, HELLA KGaA Hueck & Co., Hyundai Mobis Co. Ltd., Magna International Inc., Motherson Sumi Systems Limited, Samvardhana Motherson Reflectec, Robert Bosch GmbH, and ZF TRW among others.

The research report titled “Blind Spot Detection (BSD) Systems: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product innovations and strategic industry activities of major companies worldwide. The report provides market estimates and projections for BSD Systems in passenger cars in US$ Thousands for all major geographic markets- US, Canada, Japan, Europe, (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe),  Asia-Pacific, and Rest of World.

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