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The global automotive blind spot detection industry has been driven by the increased demand for passenger safety in vehicles. The rising demand for passenger vehicles, fuelled by the rising disposable income and improved living standards of consumers, is expected to propel the market growth in the forecast period. Moreover, the rapid technological advancements such as the development of driverless vehicles are also expected to aid the market growth in the coming years. Furthermore, the growing capital expenditure by the leading market players in the development of advanced automotive blind spot detection mechanisms is anticipated to further propel the market growth in the forecast period.
The increasing demand for efficient and advanced driver assistance systems is leading to increased research and development activities by manufacturers to enhance their automotive blind spot detection system offerings. For instance, in February 2020, Continental AG (OTCMKTS: CTTAY) announced the construction of its new plant in New Braunfels, Texas for the production of radar sensors to be used in the manufacturing of advanced driver assistance systems, which includes blind spot monitoring for passenger cars with trailers. Meanwhile, another leading vendor of automotive blind spot detection solutions, Aptiv plc (NYSE: APTV), in December 2019, unveiled its open platform advanced technology known as Smart Vehicle Architecture (SVA), which is a flexible and cost-effective system that uses cloud technology. Such developments are expected to positively impact the growth of the automotive blind spot detection industry in the forecast period.
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The major players in the global automotive blind spot detection market are Delphi Automotive LLP, Continental AG, Robert Bosch GmBH, ZF Friedrichafen AG, Autoliv, Denso Corporation, and Valeo, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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