Product Description:
The Blind Spot Detection System (BSD) is a sensor-based system that is adopted to identify vehicles at the back and on the driver side. These systems generate tactile, audible, vibratory or visual warnings. They also assist the driver in parking lots when other vehicles are approaching from the sides. Adaptive Cruise control (ACC) is like traditional journey control in that it keeps up the vehicle's preset speed. However, unlike conventional cruise control, this new system can automatically adjust speed to maintain adequate distance between vehicles in the same lane. BSD systems create information about different objects that are beyond the line of sight of the driver with the use of cameras and various sensors. If the leading vehicle slows down or another object is detected, the system sends a signal to the engine or brake system to slow down. At that point, when the street is clear, the framework will quicken the vehicle back to the set speed.
Market Overview:
The global blind spot detection systems market in terms of value is expected to grow from $ 2.8 billion and the adaptive cruise control systems market from $ 6.1 billion in 2019 with a healthy CAGR of 22.8% and 16.9% respectively from 2020 to 2020.
The main factors driving the demand for automotive blind spot detection and adaptive cruise control system are increased safety awareness, the growth of the premium car market, affordability institutions such as the New Car Assessment Program (NCAP) which assigns safety ratings to cars based on safety performance.
Recent Developments:
Drivers and Restraints of Blind Spot Detection System and Adaptive Cruise Control System Market:
Drivers:
The increasing number of accidents due to augmented traffic flow is one of the main reasons that are contributing to the growth of the global BSD and ACC systems market. The implementation of such safety systems by the automotive industry has grown rapidly. Since BSD and ACC systems guarantee passenger safety, customers are often looking for such advanced security features and are also willing to pay. Another factor contributing to the growth of this market is stiff competition among car manufacturers. Manufacturers continually improve their models to meet the huge demand for innovative security devices that can be used for various applications. Another factor that is contributing to the growth of this market is the increasing use of sensors due to technological advances. The sensors are integrated with the BSD and ACC systems to increase engine performance by reducing carbon emissions. Government initiatives for fuel efficiency and vehicle safety attributes encourage manufacturers to implement such integrated systems that can ensure safety and comply with these regulations.
Restraints:
However, the BSD and ACC systems are not effective in areas with adverse weather conditions. Regions with continuous snowfall and rainfall make these security systems ineffective in tracking and monitoring surrounding objects. This makes the owners of these regions reluctant to implement these systems. Another challenge for the growth of this market is the standardization of these systems. As each manufacturer competes to offer unique security features, each manufacturer incorporates high-tech sensors with different applications. Such integrations make it difficult and confusing for car owners to understand the exact operating procedures for different car models. Therefore, due to the technicality involved, car owners are reluctant to install innovative security systems.
Market Segmentation:
By Application
SUV is a vague term that traditionally covers a wide range of four-wheel drive vehicles that can be taken off-road and have the feel of a lighter truck.
By Type:
An ultrasonic sensor is an electronic gadget that gauges the distance to an objective article by transmitting ultrasonic sound waves and converts the reflected sound into an electrical sign. Ultrasonic waves travel quicker than the speed of perceptible sound. The radar sensor allows you to measure the distance of objects at great distances. In addition to distance measurements, it is also possible to measure the relative speed of the detected object.
Blind Spot Detection System and Adaptive Cruise Control System Market Region wise analysis:
Marked Segmentation based on the region:
a. Middle East
b. Africa
Germany, UK and US are expected to be the largest markets for blind spot detection and adaptive cruise control system for automobiles. In the Asia-Pacific and ROW regions, the BSD and ACC systems are developing at a significant growth rate, due to their increasing purchasing power, high standard of living and GDP growth and the boom in the premium car market. Developing countries such as China, Russia, Brazil, and Mexico are expected to experience a high rate of growth in demand for BSD and ACC automotive systems from 2020 to 2025.
Key Players of Market:
Key players of the market are:
IMPACT OF COVID-19 ON BLIND SPOT DETECTION SYSTEM AND ADAPTIVE CRUISE CONTROL SYSTEM MARKET:
The Coronavirus pandemic is happening around the world, effecting operations in several end-user sectors including the automobiles. The automotive industry has witnessed one its worst days with the sudden outbreak of this virus. The slump in this business had a direct impact on its associated industries like the BSD and ACC systems. The strict lockdown conditions implemented by the governments to avoid the transmission of this virus has resulted in the temporary closure of the production units and sales channels for almost six months. This has resulted in the declined revenue and sales in the worldwide market. Although the lockdown has been lifted in all the countries, it is estimated that it will some time to bring back consumer confidence and cover incurred losses during the COVID-19 period.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Blind Spot Detection System and Adaptive Cruise Control System Market, By Type
6.1.1 Ultrasonic Sensor
6.1.2 Camera
6.1.3 Rador Sensor
6.1.4 Market Size Estimations & Forecasts (2019-2024)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Blind Spot Detection System and Adaptive Cruise Control System Market, By Application
6.2.1 SUV
6.2.2 Roadster
6.2.3 Minivan
6.2.4 Market Size Estimations & Forecasts (2019-2024)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Type
7.2.3 By Application
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Type
7.6.3 By Application
8. Key Player Analysis
8.1 Denso
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Bosch
8.3 Continental
8.4 Delphi
8.5 TRW
8.6 Aisin
8.7 Autoliv
8.8 Valeo
8.9 Hella
8.10 GNSD
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
