The latest report on Blind Spot Monitor System Market by Infinium Global Research gives complete coverage of the blind spot monitor system market by technology (active blind-spot monitoring, and passive blind-spot monitoring), vehicle type (passenger vehicles, and commercial vehicles), end-user (original equipment manufacturers, and aftermarket) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of blind spot monitor systems such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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With Rising Consumer Demand for Safety Solutions, the Demand for the Blind Spot Monitor System is Increasing
Blind spots are the area around a vehicle that is unnoticeable to the driver of the vehicle. The Blindspot monitor system is a sensor-based detection system, mainly used to monitor the car’s flanks at the rear and side of the driver/vehicle. Blindspot system monitors those blind spots and informs the driver in the form of light, audio, vibrating or tactile on the relevant side of the vehicle. Thus, the blind spot monitor alerts the driver in advance thereby preventing the vehicle collision. Blindspot monitor system is equipped either with Camera or radar sensors and is either located underneath or at the corner of each side mirror. Some systems also include bumper-mounted sensors.
Several manufacturers used advanced technologies in both passenger and commercial vehicles in order to provide convenience and safety features to the customers. Blindspot monitor system provides comfortability and comfortable driving experience to the driver. With rising consumer demand for safety solutions, the demand for the blind spot monitor system is increasing. Moreover, growing awareness and government regulatory policies about road safety are expected to boost the blind spot monitor market.
Besides this, increasing sales of the passenger, as well as commercial vehicles, is indirectly expected to boost the sales of the blind spot monitor systems. However, the high cost of technology and the non-availability of the system in small and economy hampers the growth of the blind spot monitor system. Concerns about passenger safety and the availability of cost-effective sensors are providing opportunities in the blind spot monitor system. In addition, global manufactures show interest in self-driving vehicles that will further create more opportunities for the blind spot monitor market.
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Growing Awareness and Government Regulatory Policies About Road Safety are Expected to Boost the Blind Spot Monitor Industry
Geographically, the Europe region held the largest market share in the blind spot monitor system market, followed by the Asia-pacific region. Countries like Germany, UK, and France are the dominant countries in the European region that have increased the growth of the blind spot monitor market due to increased sales of luxury and premium vehicles. Besides this, the increasing popularity of the blind spot monitor system has resulted in increased adoption of the blind spot monitor system market. In terms of revenue, North America and the Asia Pacific are the second and third leading regions. The APAC region is expected to grow at the highest CAGR during the forecast period. The growth in this region is mainly attributed due to rising disposable income and increase sales of premium and luxury car segments.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the blind spot monitor system.
- Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.