The main objective of this report is to define, describe, and forecast the global “Blind Spot Monitor System” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to the report, the global blind spot monitor system market is projected to grow at a CAGR of 10% over the forecast period of 2018-2024.
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Rising demand for safety solutions promotes growth in Blind Spot Monitor system Market.
Several manufacturers used advanced technologies in both passenger and commercial vehicles in order to provide convenience and safety features to the customers. Blind spot monitor system provides comfort-ability 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 non-availability of the system in small and economy hampers the growth of blind spot monitor system. Concerns about passenger safety and availability of cost-effective sensors are providing opportunities in blind spot monitor system. In addition, global manufactures show interests in self-driving vehicles that will further create more opportunities for the blind spot monitor market.
WABCO Launches OnSide™ Blind Spot Detection System at MCE 2017; Radar-Based Technology Reduces Risk of Side Collisions and Enables Active Collision Avoidance
In October 2017 A leading global supplier of technologies and services that improve the safety, efficiency, and connectivity of commercial vehicles, introduced WABCO OnSide™, an advanced blind spot detection system for commercial trucks and trailers. The radar-based system alerts drivers of the presence of a moving vehicle in a truck’s blind spot and provides a side collision warning to reduce the risk of accidents.
WABCO made the announcement leading up to the American Trucking Associations’ 2017 Management Conference & Exhibition (MCE 2017) was taking placed on October 21-24, 2017 in Orlando, Florida. The Company showcased at MCE 2017 its industry-leading technologies to advance the safety, efficiency, and connectivity of trucks, buses, and trailers in North America.
The Europe region to contribute the growth of Blind Spot Monitor system Market.
Geographically, 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 Europe region that have increased the growth of the blind spot monitor market due to increased sales of luxury and premium vehicles. Besides this, increasing popularity of blind spot monitor system has resulted in increased adoption of 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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The major key players in blind spot monitor system Market are Continental AG, Delphi Automotive, Denso Corp., Autoliv, Magna International, WABCO Vehicle Control Services, Robert Bosch GmbH, Bendix Commercial Vehicle Systems LLC, Mobileye, and Bendix Commercial Vehicle Systems LLC.
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