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 – Yahoo Finance

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

Technavio has announced its latest market research report titled Commercial Vehicle Blind Spot Detection System Market by Application and Geography – Forecast and Analysis 2022-2026

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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.

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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

• The commercial vehicle blind spot detection system market share growth in the LCV segment will be significant for revenue generation. Rapid technological advancements in several market adjacencies that include sensing technology and information and communication technology are pushing the players operating in the ADAS market to leverage the maximum benefits of the advancements. Stringent regulations intended to reduce road fatalities caused by commercial vehicle accidents back the inclusion of safety systems in commercial vehicles. These are driving the penetration of BSD systems in LCVs.

• 55% of the market’s growth will originate from North America during the forecast period. The US is the key market for commercial vehicle blind spot detection systems in North America. Market growth in this region will be faster than the growth of the market in the South American, APAC, and MEA regions. The rise in accidents, owing to abrupt changing of lanes by drivers without noticing and analyzing the rear-view and blind spots will facilitate the commercial vehicle blind spot detection system market growth in North America over the forecast period.

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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

• CAGR of the market during the forecast period 2022-2026

• Detailed information on factors that will assist commercial vehicle blind spot detection system market growth during the next five years

• Estimation of the commercial vehicle blind spot detection system market size and its contribution to the parent market

• Predictions on upcoming trends and changes in consumer behavior

• The growth of the commercial vehicle blind spot detection system market

• Analysis of the market’s competitive landscape and detailed information on vendors

• Comprehensive details of factors that will challenge the growth of commercial vehicle blind spot detection system market vendors

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Table Of Contents :

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Application

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports, covering 800 technologies spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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