Global Blind Spot Alert System Market By Product Type (Blind Spot Detection System, Park Assist System, and Others), By Technology (Camera-Based System, Radar-Based System, and Other Technologies), By Vehicle Type, By Sales Channel, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Blind Spot Alert System Market size is expected to be worth around USD USD 21 Billion by 2032, From USD 7.1 Billion by 2023, with growth at a CAGR of 11.70% during the forecast period from 2023 to 2032.

Blind spot detection (BSD system) is an advanced driver assistance system (ADAS) that detects objects in a blind spot using unique sensors. After sensing an object in the blind spot, these sensors trigger an alarm. There are many other names for BSD systems, such as blind spot monitoring and blind spot info systems.

The blind spot detection system’s purpose is to improve safety and reduce collisions between vehicles. Due to the high demand for safety features and strict safety regulations, as well as increased comfort while driving, the global blind spot alert system market is growing rapidly.

However, the market’s growth is hampered by its high initial cost, complex structure, and low efficiency in adverse weather conditions. Moreover, technological advances are expected to provide growth opportunities over the forecast period. Blind spot alert system market segments are based on technology, vehicle type, as well as sales channel, and region.

Driving factors

Increased Demand for Advanced Safety Features: As road safety becomes a more pressing concern and accidents occur more frequently, consumers are demanding more advanced safety features in their vehicles. Blind-spot alert systems are one such feature that can help prevent collisions.

Government Regulations: Governments around the world are mandating the installation of blind-spot alert systems in vehicles, with NHTSA mandating that all new cars be equipped with rearview cameras by 2018.

Technological Advancements: Blind-spot alert systems are becoming more sophisticated and accurate thanks to advances in sensor technology, artificial intelligence, and machine learning. This makes the systems more dependable and effective at detecting potential hazards.

Increased Adoption of Electric Vehicles: With the increasing popularity of electric vehicles, blind-spot alert systems have become an essential feature to enhance their safety. Since electric cars tend to be quieter than traditional models, it may be harder for pedestrians and other drivers to hear them approaching.

Rising disposable incomes: As disposable incomes in emerging economies increase, consumers are increasingly opting for higher-end vehicles with advanced safety features like blind-spot alert systems.

Restraining Factors

High Cost: Blind-spot alert systems can be expensive, particularly when retrofitting older vehicles. This may pose a barrier for some consumers who may not be willing or able to foot the additional bill.

Limited Access: Unfortunately, blind-spot alert systems are not yet commonplace in all types of vehicles – particularly entry-level models. This may hinder the adoption of the technology in some markets.

False Alerts: Blind-spot alert systems may occasionally issue false notifications, which can be distracting for drivers and reduce their faith in the system. This may lead to drivers disregarding necessary alerts when they were necessary.

Technical Issues: Blind-spot alert systems rely on various sensors and electronic components that may malfunction or break. This could lead to inaccurate or inconsistent alerts, decreasing the effectiveness of the system as a whole.

Limited Effectiveness: Blind-spot alert systems may not be effective in all driving conditions, such as heavy traffic or adverse weather conditions. In these instances, drivers must rely on other safety features like mirrors and turn signals to avoid accidents.

Growth opportunities

Integration with Other Safety Features: Blind-spot alert systems can be integrated with other safety components, such as lane departure warning systems and adaptive cruise control, to create a more comprehensive safety package. This integration not only increases the effectiveness of each system but provides consumers with more value.

Expansion into Emerging Markets: With rising disposable incomes in emerging economies, blind-spot alert system manufacturers have an opportunity to expand their offerings into these locations. Doing so may boost adoption rates and expand the market as a whole.

Development of Aftermarket Solutions: Aftermarket companies can create blind-spot alert systems that can be retrofitted onto older vehicles, helping increase adoption rates among consumers who may not have the means to purchase a brand-new car with this technology. This could increase accessibility for those without access to financing for such upgrades.

Partnership with ride-sharing companies: Blind-spot alert system manufacturers can collaborate with ride-sharing companies to add safety features to their fleet vehicles, potentially increasing adoption rates and giving the ride-sharing companies a competitive edge.

Development of New Sensor Technologies: Companies have the opportunity to develop sensor technologies that enhance blind-spot alert system accuracy and reliability. Doing so would boost their effectiveness, providing consumers with more value.

Trending factors

Integration with Advanced Driver Assistance Systems (ADAS): Blind-spot alert systems are increasingly being integrated with other ADAS features, such as lane departure warning systems, adaptive cruise control, and automatic emergency braking. This integration can enhance overall vehicle safety by decreasing accident probabilities.

Development of Multi-camera Systems: Some blind-spot alert systems now incorporate multiple cameras for a more comprehensive view of their environment. This can reduce blind spots and give drivers a clearer overview.

Blind-spot alert systems increasingly rely on artificial intelligence (AI) and machine learning: algorithms to enhance their precision and effectiveness. These technologies enable the system to better recognize potential hazards, respond accordingly, and adjust according to changing driving conditions.

Expansion into commercial vehicles: Blind-spot alert systems are becoming more prevalent in commercial vehicles like trucks and buses as companies strive to enhance safety within their fleets and reduce accidents.

Blind-spot alert systems becoming more widely available in entry-level vehicles: As manufacturers strive to add value for customers and stand out from their rivals in a crowded market, more blind-spot alert systems are becoming available at lower price points.

Product Analysis

Based on the product analysis, the backup camera system dominates the market with a 27% market share. The market is divided into blind spot detection systems, park assist systems, backup camera systems, surround view systems, and other product types.

Due to the increasing demand for cars, the backup camera system segment held the largest market share. It is most common in all types of vehicles. Most vehicles have a backup camera or rearview digitizer that assists the driver when parking.

Technology Analysis

Based on technology, radar-based system dominates the market with a 34% market share. The Blind Spot Alert System Market can be divided into Camera-Based Systems, Radar-Based Systems, Ultrasonic-Based Systems, and Other Technologies.

Due to increased vehicle safety, the radar Sensor segment held the largest market share. These sensors can send short pulses of radio energy to the object and simultaneously listen for its echo using the same camera. They are also cost-effective.

Vehicle Type Analysis

Based on vehicle type, the passenger vehicle segment dominates the market. The market can be divided into passenger vehicles, light commercial vehicles, heavy commercial vehicles, and other vehicles.

Due to the increasing demand for active safety systems in luxury vehicles such as BMW, Mercedes-Benz, and Audi, the passenger car segment held the largest market share.

Sales Channel Analysis

Based on the sales channels, the OEM segment dominates the market with a 59% market share. The market can be divided into OEM and Aftermarket. Due to the increasing demand for BSD systems for luxury vehicles and technological advances in vehicles to enhance their safety features, the OEM segment held the largest blind spot alert system market share.

Key Market Segments:

Based On Product Type

• Blind spot detection system
• Park assist system
• Backup camera system
• Surround-view system
• Other Product Types

Based on Technology

• Camera-based system
• Radar-based system
• Ultrasonic-based system
• Other Technologies

Based on Vehicle Type

• Passenger vehicle
• Light commercial vehicle
• Heavy commercial vehicle
• Other Vehicles

Based On the Sales Channel

• OEM
• Aftermarket

COVID-19 Impact Analysis

The pandemic has caused disruptions in global supply chains, leading to delays in the production and distribution of blind-spot alert systems. This has limited their availability and caused longer lead times for manufacturers.

The economic toll of the pandemic has caused a decrease in consumer spending, potentially impacting demand for blind-spot alert systems. Due to financial uncertainty, some may be less inclined to purchase new vehicles or retrofit older ones with this technology.

Due to social distancing measures in place, there has been an inclination towards online sales for automotive products–including blind-spot alert systems–leading to increased competition among online retailers and potentially impacting foot traffic in brick-and-mortar stores.

The pandemic has placed an increased focus on safety, particularly within the automotive industry. This may have resulted in an uptick in blind-spot alert systems as consumers search for ways to enhance their vehicles’ protection levels.

With more people working from home, there has been a decrease in vehicle traffic which may have resulted in fewer accidents. This may have had an impact on demand for blind-spot alert systems as some consumers may view them as less necessary during this period.

Regional Analysis

North America dominates the market with a 29% market share and APAC is projected to witness the fastest growth during the forecasted period. North America dominates the blind spot alert system market, due to the high adoption rate of advanced automotive technologies in both The US and Canada.

Furthermore, there are numerous major automotive manufacturers and suppliers located here which further fuels growth within this region. The European market for blind-spot alert systems is driven by stringent safety regulations and high consumer awareness about automotive safety features. Furthermore, the region boasts a large number of luxury vehicle manufacturers who are early adopters of advanced safety technologies.

The Asia-Pacific region is expected to experience the fastest growth in demand for blind-spot alert systems, driven by rising vehicle ownership in countries such as China, India, and Japan. The region is experiencing rapid urbanization and infrastructure development, driving demand for automotive safety technologies.

The Latin American blind spot alert system market is being propelled forward by the growing automotive industry in countries such as Brazil and Mexico. The region is seeing an uptick in demand for premium vehicles equipped with advanced safety features.

The Middle East and Africa region is expected to witness steady growth in the blind-spot alert systems market due to rising luxury vehicle sales and increasing awareness regarding automotive safety measures.

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share & Key Players Analysis:

This study report on the “Global Blind Spot Alert System Market” will offer an invaluable perspective, with a focus on the global market. Major players within this space include Bosch, Continental, Magna, Gentex, Denso, ZF Friedrichshafen AG, Ficosa Valeo Autoliv, and Preco Electronics.

The competitive landscape section provides key development strategies, market share analysis, and global ranking analysis for the above-mentioned players.

Market Key Players:

• Robert Bosch GmbH
• Delphi Automotive LLP
• Continental AG
• ZF Friedrichshafen AG
• Autoliv Inc.
• Denso Corporation
• Valeo SA
• Magna International
• Ficosa Internacional SA
• Aisin Seiki Co.
• NVIDIA Corporation
• Harman International Inc.
• Hitachi
• NXP Semiconductors N.V.
• Other Companies

Recent Developments:

• In 2018: Ford, General Motors, and Volvo announced plans to make blind-spot detection systems standard on all new vehicles.
• In 2019: Advanced blind-spot alert systems now incorporate multiple cameras and artificial intelligence algorithms to boost accuracy and reduce false alarms.
• In 2020: The COVID-19 pandemic causes disruptions in the global supply chain and reduces consumer spending on automotive products, including blind-spot alert systems.
• In 2021: Blind-spot alert systems are becoming increasingly commonplace in entry-level vehicles and some manufacturers are beginning to integrate them with other advanced driver assistance features. Furthermore, there is a growing trend towards aftermarket solutions that can be retrofitted onto older vehicles.

Report Scope: