Technavios research analysts predict a market growth rate of over 21% from 2015 to 2019. Recent advances in technology in the global automobile market have augmented the position and importance of safety systems in the market.
Analysts expect the demand for automotive blind spot detection to grow considerably during the forecast period. This market is driven by an increasing emphasis on safety solutions with automakers stressing on differentiating themselves in the auto market.
Also, enactment of stern regulations by government and transport authorities, owing to an increase in accidents caused by the abrupt shifting of lanes without noticing and analyzing the rear-view and blind spot, and necessitates its adoption.
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Segmentation of global automotive blind spot detection by end-market
Aftermarket
OEM
In terms of revenue, OEMs accounted for close to 92% of the global revenue generated from the sale of BSD system in 2014. Owing to the increasing safety concerns among the consumers, the demand for BSD systems is expected to increase further in the coming years.
Geographical segmentation of the global automotive blind spot detection market
APAC
Americas
EMEA
Global automotive BSD market is geographically well diversified across the Americas, EMEA, and APAC. The Americas accounted for a more than 45% share of the market in 2014.
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