The global blind spot monitor market is estimated to reach a valuation of US$ 21.2 billion in 2024 and is projected to be worth US$ 65.8 billion by 2034, reflecting a CAGR of 12% over the assessment period.
Blind Spot Monitor Market Trends and Highlights
Attributes | Key Insights |
---|---|
Estimated Global Blind Spot Monitor Market Size (2024E) | US$ 21.2 billion |
Projected Blind Spot Monitor Market Value (2034F) | US$ 65.8 billion |
Value-based CAGR (2024 to 2034) | 12% |
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This segment presents a gist of different safety-centered markets in the automotive sector that are vying for consumer attention. As governments tighten their laws for effective traffic control and safety, companies offering blind spot monitors, automotive active safety systems, automotive ADAS (advanced driver assistance system), and others are experiencing significant sales.
The purchase rate of automotive ADAS is comparatively higher than the other two markets, i.e., 12.7% CAGR, which are listed in the following table. This indicates manufacturers of automotive ADAS are continuously increasing their efforts in system innovation to maintain its relevancy through the forecast period.
Blind Spot Monitor Market:
Attributes | Blind Spot Monitor Market |
---|---|
CAGR (2024 to 2034) | 12% |
Growth Factor | Increasing government regulations that mandate the use of safety features in automobiles |
Opportunity | Premium vehicles emerging as a lucrative segment for blind spot monitor makers |
Key Trends | Rising government investments in the automotive sector |
Automotive Active Safety System Market:
Attributes | Automotive Active Safety System Market |
---|---|
CAGR (2024 to 2034) | 11.2% |
Growth Factor | Increasing sales of electric vehicles (EVs) is increasing the application scope of automotive active safety systems |
Opportunity | Growing focus on the integration of safer and smarter safety systems into vehicles |
Key Trends | Surging technological advancements |
Automotive ADAS (Advanced Driver Assistance System) Market:
Attributes | Automotive ADAS (Advanced Driver Assistance System) Market |
---|---|
CAGR (2024 to 2034) | 12.7% |
Growth Factor | ADAS solutions are gaining traction among automobile manufacturers owing to their adaptive light control |
Opportunity | Increasing government mandates on the use of ADAS systems on newly manufactured vehicles |
Key Trends | Advancements in artificial intelligence (AI) and machine learning (ML) resulting in the development of advanced driver-assistance systems |
Companies offering blind spot monitor systems are observing growth opportunities in every other country. For instance, the United States exhibits a 12.30% CAGR at the lower end, and South Korea displays an estimated growth of 14% CAGR at the higher end.
With a slight difference in growth rate in the top 5 countries, investments in blind spot monitors in the top consuming markets appear to be a profitable venture.
Countries | Forecasted CAGR (2024 to 2034) |
---|---|
The United States | 12.30% |
The United Kingdom | 13.30% |
China | 12.50% |
Japan | 13.50% |
South Korea | 14.00% |
Revenue generation from the sales of blind spot monitors in the United States is forecasted to be worth US$ 11.9 billion by 2034. Throughout this period, the market is expected to exhibit a growth rate of 12.3% CAGR. Given below are the market dynamics that are catapulting sales of blind spot monitors in the country:
All these factors point to a bright scope for manufacturers who are willing to go the extra mile to develop blind spot monitors with up-to-date technology.
The blind spot monitor system installations in the United Kingdom are increasing at a pace of 13.3% CAGR through 2034. By 2034 end, the country is slated to achieve US$ 2.7 billion. Key factors that are motivating such dynamics are:
The recent analysis revealed that the industry in China is estimated to account for US$ 10.2 billion by 2034. Throughout this course, the market is projected to record an impressive CAGR of 12.5%.
The market share of blind spot monitors in Japan is anticipated to attain US$ 7.2 billion by 2034. The demand for blind spot monitors is set to expand at a CAGR of 13.5% through 2034.
The sales of blind spot monitors in South Korea are projected to accumulate US$ 4.2 billion by 2034. The market is anticipated to register a CAGR of 14% through 2034.
Attributes | Details |
---|---|
Top Vehicle Type | Passenger Cars |
Market Share in 2024 | 11.6% |
The passenger cars segment holds a prominent share of the blind spot monitor market. Key factors that favor such a growth are:
Attributes | Details |
---|---|
Top Component Type | Ultrasonic |
Market Share in 2024 | 11.8% |
The ultrasonic segment is estimated to register a CAGR of 11.8% through 2034, declining from its earlier staggering CAGR of 17.6% from 2019 to 2023. Key factors that are driving the segment growth are:
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The blind spot monitor market is significantly competitive. Established giants are wielding their recognition power, which has been built over many years. Entrants can be seen trying different techniques to raise the sales of blind spot monitors. Given below are some strategic ideas to gain hold of more market space:
The market is estimated to account for US$ 21.2 billion in 2024.
Throughout the forecast period, the blind spot monitor industry is projected to register a CAGR of 12%.
By 2034, the blind spot monitor industry is expected to be worth US$ 65.8 billion.
The United States is a substantial contributor to the blind spot monitor industry.
Passenger cars are the top performers, showing an impressive growth rate through 2034.
Some of the key players in the market include Mobileye, Aptiv Plc, and Veoneer Inc.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Component Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Component Type, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Component Type, 2024 to 2034 5.3.1. Ultrasonic 5.3.2. RADAR 5.3.3. Camera 5.4. Y-o-Y Growth Trend Analysis By Component Type, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Component Type, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Vehicle Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Vehicle Type, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Vehicle Type, 2024 to 2034 6.3.1. Passenger Cars 6.3.2. Commercial Vehicle 6.4. Y-o-Y Growth Trend Analysis By Vehicle Type, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Vehicle Type, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Sales Channel, 2019 to 2023 7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Sales Channel, 2024 to 2034 7.3.1. OEM 7.3.2. Aftermarket 7.4. Y-o-Y Growth Trend Analysis By Sales Channel, 2019 to 2023 7.5. Absolute $ Opportunity Analysis By Sales Channel, 2024 to 2034 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023 8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. East Asia 8.3.5. South Asia 8.3.6. Oceania 8.3.7. MEA 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Component Type 9.2.3. By Vehicle Type 9.2.4. By Sales Channel 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Component Type 9.3.3. By Vehicle Type 9.3.4. By Sales Channel 9.4. Key Takeaways 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Argentina 10.2.1.4. Rest of Latin America 10.2.2. By Component Type 10.2.3. By Vehicle Type 10.2.4. By Sales Channel 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Component Type 10.3.3. By Vehicle Type 10.3.4. By Sales Channel 10.4. Key Takeaways 11. Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. Italy 11.2.1.3. France 11.2.1.4. UK 11.2.1.5. Spain 11.2.1.6. Russia 11.2.1.7. BENELUX 11.2.1.8. Rest of Europe 11.2.2. By Component Type 11.2.3. By Vehicle Type 11.2.4. By Sales Channel 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Component Type 11.3.3. By Vehicle Type 11.3.4. By Sales Channel 11.4. Key Takeaways 12. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.2. By Component Type 12.2.3. By Vehicle Type 12.2.4. By Sales Channel 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Component Type 12.3.3. By Vehicle Type 12.3.4. By Sales Channel 12.4. Key Takeaways 13. South Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. India 13.2.1.2. Thailand 13.2.1.3. Malaysia 13.2.1.4. Indonesia 13.2.1.5. Rest of South Asia 13.2.2. By Component Type 13.2.3. By Vehicle Type 13.2.4. By Sales Channel 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Component Type 13.3.3. By Vehicle Type 13.3.4. By Sales Channel 13.4. Key Takeaways 14. Oceania Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. Australia 14.2.1.2. New Zealand 14.2.2. By Component Type 14.2.3. By Vehicle Type 14.2.4. By Sales Channel 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Component Type 14.3.3. By Vehicle Type 14.3.4. By Sales Channel 14.4. Key Takeaways 15. MEA Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 15.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 15.2.1. By Country 15.2.1.1. GCC 15.2.1.2. Rest of MEA 15.2.2. By Component Type 15.2.3. By Vehicle Type 15.2.4. By Sales Channel 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Component Type 15.3.3. By Vehicle Type 15.3.4. By Sales Channel 15.4. Key Takeaways 16. Key Countries Market Analysis 16.1. USA 16.1.1. Pricing Analysis 16.1.2. Market Share Analysis, 2023 16.1.2.1. By Component Type 16.1.2.2. By Vehicle Type 16.1.2.3. By Sales Channel 16.2. Canada 16.2.1. Pricing Analysis 16.2.2. Market Share Analysis, 2023 16.2.2.1. By Component Type 16.2.2.2. By Vehicle Type 16.2.2.3. By Sales Channel 16.3. Brazil 16.3.1. Pricing Analysis 16.3.2. Market Share Analysis, 2023 16.3.2.1. By Component Type 16.3.2.2. By Vehicle Type 16.3.2.3. By Sales Channel 16.4. Mexico 16.4.1. Pricing Analysis 16.4.2. Market Share Analysis, 2023 16.4.2.1. By Component Type 16.4.2.2. By Vehicle Type 16.4.2.3. By Sales Channel 16.5. Argentina 16.5.1. Pricing Analysis 16.5.2. Market Share Analysis, 2023 16.5.2.1. By Component Type 16.5.2.2. By Vehicle Type 16.5.2.3. By Sales Channel 16.6. Germany 16.6.1. Pricing Analysis 16.6.2. Market Share Analysis, 2023 16.6.2.1. By Component Type 16.6.2.2. By Vehicle Type 16.6.2.3. By Sales Channel 16.7. Italy 16.7.1. Pricing Analysis 16.7.2. Market Share Analysis, 2023 16.7.2.1. By Component Type 16.7.2.2. By Vehicle Type 16.7.2.3. By Sales Channel 16.8. France 16.8.1. Pricing Analysis 16.8.2. Market Share Analysis, 2023 16.8.2.1. By Component Type 16.8.2.2. By Vehicle Type 16.8.2.3. By Sales Channel 16.9. UK 16.9.1. Pricing Analysis 16.9.2. Market Share Analysis, 2023 16.9.2.1. By Component Type 16.9.2.2. By Vehicle Type 16.9.2.3. By Sales Channel 16.10. Spain 16.10.1. Pricing Analysis 16.10.2. Market Share Analysis, 2023 16.10.2.1. By Component Type 16.10.2.2. By Vehicle Type 16.10.2.3. By Sales Channel 16.11. Russia 16.11.1. Pricing Analysis 16.11.2. Market Share Analysis, 2023 16.11.2.1. By Component Type 16.11.2.2. By Vehicle Type 16.11.2.3. By Sales Channel 16.12. BENELUX 16.12.1. Pricing Analysis 16.12.2. Market Share Analysis, 2023 16.12.2.1. By Component Type 16.12.2.2. By Vehicle Type 16.12.2.3. By Sales Channel 16.13. China 16.13.1. Pricing Analysis 16.13.2. Market Share Analysis, 2023 16.13.2.1. By Component Type 16.13.2.2. By Vehicle Type 16.13.2.3. By Sales Channel 16.14. Japan 16.14.1. Pricing Analysis 16.14.2. Market Share Analysis, 2023 16.14.2.1. By Component Type 16.14.2.2. By Vehicle Type 16.14.2.3. By Sales Channel 16.15. South Korea 16.15.1. Pricing Analysis 16.15.2. Market Share Analysis, 2023 16.15.2.1. By Component Type 16.15.2.2. By Vehicle Type 16.15.2.3. By Sales Channel 16.16. India 16.16.1. Pricing Analysis 16.16.2. Market Share Analysis, 2023 16.16.2.1. By Component Type 16.16.2.2. By Vehicle Type 16.16.2.3. By Sales Channel 16.17. Thailand 16.17.1. Pricing Analysis 16.17.2. Market Share Analysis, 2023 16.17.2.1. By Component Type 16.17.2.2. By Vehicle Type 16.17.2.3. By Sales Channel 16.18. Malaysia 16.18.1. Pricing Analysis 16.18.2. Market Share Analysis, 2023 16.18.2.1. By Component Type 16.18.2.2. By Vehicle Type 16.18.2.3. By Sales Channel 16.19. Indonesia 16.19.1. Pricing Analysis 16.19.2. Market Share Analysis, 2023 16.19.2.1. By Component Type 16.19.2.2. By Vehicle Type 16.19.2.3. By Sales Channel 16.20. Australia 16.20.1. Pricing Analysis 16.20.2. Market Share Analysis, 2023 16.20.2.1. By Component Type 16.20.2.2. By Vehicle Type 16.20.2.3. By Sales Channel 16.21. New Zealand 16.21.1. Pricing Analysis 16.21.2. Market Share Analysis, 2023 16.21.2.1. By Component Type 16.21.2.2. By Vehicle Type 16.21.2.3. By Sales Channel 16.22. GCC Countries 16.22.1. Pricing Analysis 16.22.2. Market Share Analysis, 2023 16.22.2.1. By Component Type 16.22.2.2. By Vehicle Type 16.22.2.3. By Sales Channel 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Component Type 17.3.3. By Vehicle Type 17.3.4. By Sales Channel 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. Robert Bosch GmbH 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.1.5.2. Product Strategy 18.1.1.5.3. Channel Strategy 18.1.2. Continental AG 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.2.5.2. Product Strategy 18.1.2.5.3. Channel Strategy 18.1.3. Denso Corporation 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.3.5.2. Product Strategy 18.1.3.5.3. Channel Strategy 18.1.4. Aptiv 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.4.5.2. Product Strategy 18.1.4.5.3. Channel Strategy 18.1.5. Autoliv Inc. 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.5.5.2. Product Strategy 18.1.5.5.3. Channel Strategy 18.1.6. Veoneer 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.6.5.2. Product Strategy 18.1.6.5.3. Channel Strategy 18.1.7. Valeo SA 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.7.5.2. Product Strategy 18.1.7.5.3. Channel Strategy 18.1.8. NXP Semiconductors NV 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.8.5.2. Product Strategy 18.1.8.5.3. Channel Strategy 18.1.9. Texas Instruments Incorporated 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.9.5.2. Product Strategy 18.1.9.5.3. Channel Strategy 18.1.10. ZF Friedrichshafen AG 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 18.1.10.5.2. Product Strategy 18.1.10.5.3. Channel Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
Automotive
November 2023
REP-GB-10914
315 pages
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