Commercial Vehicle Blind Spot Detection System Market Size to grow by 961.74 million units|Driven by Growing Demand for Safety Solutions in Vehicles | Technavio

2022-05-21 14:42:46 By : Ms. Maia JIA

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NEW YORK , May 17, 2022 /PRNewswire/ -- The commercial vehicle blind spot detection system market size is set to grow by 961.74 million units from 2021 to 2026, progressing at a CAGR of 5.3% according to the latest market report by Technavio. The commercial vehicle blind spot detection system market is fragmented and the vendors are deploying growth strategies such as focusing on reducing the cost of BSD systems, as the government transport authorities and vehicle assessment programs are mandating the installation of safety systems in the mid-segment vehicles to compete in the market. Alibaba Group Holding Ltd., Ambarella Inc., BorgWarner Inc., Brandmotion LLC, Continental AG, DENSO Corp., Hyundai Motor Group, Intel Corp., Knorr Bremse AG, Lumen Technologies Inc., Mando Corp., Mercedes Benz Group AG, Panasonic Corp., Robert Bosch GmbH, SENSATA TECHNOLOGIES HOLDING PLC, Smart Microwave Sensors GmbH, Toppking Electronics Ltd., Valeo SA, Xvision Ltd., and ZF Friedrichshafen AG are some of the major market participants

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Commercial Vehicle Blind Spot Detection System Market 2022-2026: Scope

 Our commercial vehicle blind spot detection system market report covers the following areas:

Commercial Vehicle Blind Spot Detection System Market 2022-2026: Drivers & Challenges

The key factor driving growth in the commercial vehicle blind spot detection system market is the growing demand for safety solutions in vehicles. Consumers today are highly aware of these systems and technology and are taking great interest in improving the safety of their vehicles. As a result, today, many entry-level vehicles are being installed with electronic equipment, such as cameras and sensors, to improvise their safety. Advanced driver assistance and safety systems include BSD systems, FCW, LDWS, and surround-view systems that help to examine road conditions and alert drivers of possible risks thereby avoiding fatal accidents. The use of commercial vehicle BSD systems will enhance the safety of pedestrians and cyclists by eliminating blind spots effectively. ADAS manufacturers, ZF TRW, through its business division, Active and Passive Safety Technology, developed an FCW system, which uses both camera and radar sensors for monitoring the road. This FCW system employs radar, cameras, and sensors to identify and spot other vehicles and pedestrians on the road and alerts the drivers of the impending collision.

However, the practice of using various mirror combinations as an alternative to BSD systems will be a major challenge for the commercial vehicle blind spot detection system market during the forecast period. Hard facts suggest that BSD systems may be a redundancy, which has been created out of sheer ignorance. While some cars, especially the larger SUVs and off-roading vehicles, have large-sized C pillars, rising beltlines, and squashed rear windows blocking the drivers' line of sight, blind spots on most average vehicles can be eliminated by proper adjustment of mirrors. Technavio's research in this field has revealed that it is a common fact among repair and service personnel, as well as driving schools to try to educate end-consumers about proper mirror positioning, albeit with limited success. Proper adjustment of side and center rear-view mirrors essentially involves precision to ensure minimal overlap between the two, thus increasing the field of view of the combined ensemble.

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Commercial Vehicle Blind Spot Detection System Market 2022-2026: Segmentation

Commercial Vehicle Blind Spot Detection System Market 2022-2026: Revenue Generating Segment & Regional Analysis

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The competitive scenario provided in the commercial vehicle blind spot detection system market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don't wait, Make a strategic approach & boost your business goals with our commercial vehicle blind spot detection system market Forecast Report - Buy Now!

Commercial Vehicle Blind Spot Detection System Market 2022-2026: Key Highlights

Commercial Vehicle Blind Spot Detection System Market Scope

Accelerate at a CAGR of 5.3%

Leading companies, competitive strategies, consumer engagement scope

Alibaba Group Holding Ltd., Ambarella Inc., BorgWarner Inc., Brandmotion LLC, Continental AG, DENSO Corp., Hyundai Motor Group, Intel Corp., Knorr Bremse AG, Lumen Technologies Inc., Mando Corp., Mercedes Benz Group AG, Panasonic Corp., Robert Bosch GmbH, SENSATA TECHNOLOGIES HOLDING PLC, Smart Microwave Sensors GmbH, Toppking Electronics Ltd., Valeo SA, Xvision Ltd., and ZF Friedrichshafen AG

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,

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Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/

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