Global Commercial Vehicle Blind Spot Detection System Market 2018-2022
About Commercial Vehicle Blind Spot Detection System
Commercial Vehicle Blind Spot Detection System is a vehicle-based sensor device, which helps in locating vehicles in driver’s side and rear side. It helps in warning driver through the audible, visual, vibrating, or tactical source of warning.
Technavio’s analysts forecast the global commercial vehicle blind spot detection system market to grow at a CAGR of 12.34% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global commercial vehicle blind spot detection system market for 2018-2022. To calculate the market size, the report considers the revenue generated from the commercial vehicle blind spot detection system.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Commercial Vehicle Blind Spot Detection System Market 2018-2022
Technavio recognizes the following companies as the key players in the global commercial vehicle blind spot detection system market: Continental, Delphi, Robert Bosch, Valeo, WABCO
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing use of vision-based blind spot detection using optical flow techniques as the backend technology in BSD systems. Camera module-based BSD systems have been in the market for so long that the underlying technology used therein has become outdated. In recent years (since the late 2000s), vision-based BSD systems, which use optical flow techniques to detect objects on the road, have taken hold.”
According to the report, one of the major drivers for this market is Insurance companies supporting the demand for advanced safety systems. Automotive safety systems have proven to reduce major road fatalities globally. These have proven beneficial for auto insurance companies too. As a result of these advanced safety systems, auto insurance companies can expect a reduction of claims in the long run. Industry experts believe that using these technologies would reduce insurance claims by 40%.
Further, the report states that one of the major factors hindering the growth of this market is Practice of using various mirror combinations as an alternative to BSD systems. Hard facts suggest that BSD systems may be a redundancy, which have 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 sights, blind spots on most average vehicles can be eliminated by proper adjustment of mirrors.
Continental, Delphi, Robert Bosch, Valeo, WABCO
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