Market Snapshot:
Blind spot solutions are those type of solutions in which car driver can easily view the objects in vehicle sides. The main function of blind spot solutions provides information about the objects which are outside the driver's vision range. Rising consumer demand for active safety systems across the world and increasing usage of a passenger car in developing countries are some of the major drivers which affect the growth of the market in the future.The research analyst at AMA estimates Blind Spot Solutions market to grow at a compounded annual growth rate of 14.2%
Segment Analysis
AMA Research have segmented the market of Global Blind Spot Solutions market by Type, Application and Region. On the basis of Type, Backup Camera are dominating the market in the year 2020
On the basis of geography, the market of Blind Spot Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2020.
Market Trend
Various Technologies Advancements Such as Electric Trucks, Truck Platooning, Autonomous Trucks and Semi-Autonomous
Market Drivers
An initiative of Stringent Government Programs Pertaining to Safety Solutions in Vehicles and Growing Adoption of Smart Mirrors in Automotive Industry and Rising Demand for Premium Vehicles
Opportunities
Increasing Adoption of Autonomous Vehicles and Increasing Demand for Semi-Autonomous Vehicle and High Growth Potential of Multicamera Systems in Emerging Markets such as China and India
Restraints
- Problematic of Regulations Pertaining to Mirrorless Vehicles May Restraints the Market
- Major Concern regarding the Usage of Radar Detectors Considered Illegal in Some Countries
In addition to the aforementioned factor, An initiative of Stringent Government Programs Pertaining to Safety Solutions in Vehicles
is expected to propel the growth of the market over the forecast period.
The key Manufacturers profiled in the study are Denso (Japan), Continental (Germany), Bosch (Germany), Magna (Canada), Valeo (France), Aptiv PLC (Ireland), Magna International Inc. (Canada), Autoliv Inc. (Sweden), Ficosa International S.A. (Spain) and ZF Friedrichshafen (Germany). A lot of Germany players are profiled in the research study indicating a strong market dependence.