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Blind Spot Monitor Market Trends

Report ID: GMI9880
Published Date: Jun 2024
Report Format: PDF

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Blind Spot Monitor Market Trends

The rising adoption of Advanced Driver Assistance Systems (ADAS) integrating blind spot monitoring technologies is driven by heightened safety concerns and regulatory mandates. Vehicle manufacturers are increasingly integrating these systems to enhance driver awareness and reduce accidents, contributing to a safer driving experience globally.

For instance, in January 2024, Mobileye, a prominent provider of autonomous driving and driver-assistance technologies, extended its partnership with Mahindra and Mahindra (M&M), a leading Indian automotive company. This expanded collaboration aimed to introduce various solutions leveraging Mobileye's next-generation EyeQ 6 systems-on-chip and advanced sensing and mapping software. The initiative included plans to develop a comprehensive autonomous driving system from the ground up.

Recent advancements in sensor technology, particularly in radar and camera systems, are revolutionizing blind spot monitoring capabilities. Enhanced sensor resolution and accuracy enable quicker detection of objects and vehicles in adjacent lanes, even in challenging conditions such as inclement weather or low visibility. The integration of AI and ML algorithms further improves sensor performance by minimizing false alerts and optimizing detection thresholds. These technological strides are crucial in advancing automotive safety, fostering a more reliable & effective blind spot monitoring experience for drivers worldwide.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of blind spot monitor reached USD 3.3 billion in 2023 and is set to witness 17% CAGR from 2024-2032, owing to the advancements in sensor technology, and integration into both passenger & commercial vehicles worldwide.

Blind spot monitor industry from the passenger cars and commercial vehicles segment held 68% share in 2023, due to growing consumer demand for enhanced safety and convenience in everyday driving.

Europe market accounted for 33% share in 2023, attributed to the stringent safety regulations and a strong consumer focus on vehicle safety features in the region.

Bosch, Continental AG, Valeo, Denso Corporation, ZF Friedrichshafen AG, Magna International Inc., Hella KGaA Hueck & Co., Delphi Technologies PLC, and Mobileye, are some of the major blind spot monitor companies worldwide.