Blind Spot Detection Bsd System And Adaptive Cruise Control Acc System Market
Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Forecasts to 2030 - Global Analysis By Type (Camera, Rador Sensor, Ultrasonic Sensor and Other Types), Application, and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $1.3 BN |
|
Projected Year Value (2030) |
US $4.6 BN |
|
CAGR (2023 - 2030) |
19.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Europe |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market is accounted for $1.3 billion in 2023 and is expected to reach $4.6 billion by 2030 growing at a CAGR of 19.2% during the forecast period. The Blind Spot Detection (BSD) System is a vehicle safety feature designed to alert drivers about vehicles in their blind spots, typically located on either side of the car, and the Adaptive Cruise Control (ACC) System is an advanced driver assistance feature that enhances traditional cruise control. While BSD focuses on detecting and alerting the driver to vehicles in the blind spots, ACC maintains a safe following distance by automatically adjusting the vehicle's speed based on the distance to the vehicle ahead. These systems contribute to improved highway safety and reduce driver fatigue by managing speed in varying traffic conditions by addressing different aspects of potential collisions, showcasing the synergy between technology and safety in modern automotive design.
According to the World Health Organization, nearly 1.35 million people die annually, due to road accidents.
-System-and-Adaptive-Cruise-Control-(ACC)-System-Market-fig-2.jpg)
Market Dynamics:
Driver:
Increasing emphasis on vehicle safety
The emphasis on vehicle safety is not only a consumer preference but is also reinforced by regulatory bodies globally, driving automakers to integrate advanced safety features like BSD and ACC into their vehicles. This proactive approach to maintaining a safe following distance enhances overall road safety, especially in situations where sudden deceleration is required, which fosters a safer and technologically advanced driving environment.
Restraint:
High cost
The implementation of BSD and ACC systems requires sophisticated sensors, cameras, and computing power, which contribute to the overall cost of the vehicle. The cost of manufacturing and integrating these systems into vehicles was relatively high due to the need for specialized components and intricate installation processes. Hence, this further increased the price of vehicles equipped with BSD and ACC systems, making them less affordable for average consumers and hindering this market.
Opportunity:
Technological advancements and innovation
The continuous progress in sensor technologies, radar systems, and computing capabilities has led to the development of more sophisticated and reliable ADAS features. Innovations in sensor fusion algorithms enable faster and more precise identification of potential collision risks, enhancing the effectiveness of BSD systems. Moreover, for ACC systems, ongoing technological innovation focuses on refining radar sensor capabilities and enhancing vehicle-to-vehicle communication that contribute to both safety and driving convenience, which drive this market size.
Threat:
Lack of awareness
BSD and ACC systems were relatively new technologies that required consumers to understand their benefits and how they functioned. However, the lack of awareness and knowledge about these systems made it challenging for automakers to effectively market and promote their advantages to potential buyers. As a result, many consumers were unaware of the existence and potential benefits of BSD and ACC systems, leading to limited demand and hampering market growth.
Covid-19 Impact
The COVID-19 pandemic has had several negative impacts on the Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System markets. One significant challenge has been the disruption in the global automotive supply chain. Lockdowns, restrictions, and logistical challenges resulted in a shortage of essential components, affecting the production and distribution of vehicles equipped with BSD and ACC systems. Furthermore, consumer spending constraints during economic uncertainties have also impacted the market.
The rador sensor segment is expected to be the largest during the forecast period
The rador sensor segment is estimated to hold the largest share due to its functionality and effectiveness in ensuring vehicle safety. In BSD systems, radar sensors are strategically placed on the sides of the vehicle to continuously monitor adjacent lanes for the presence of other vehicles. Similarly, in ACC systems, they are typically mounted at the front of the vehicle and are responsible for constantly measuring the distance and relative speed of the vehicle in front. Therefore, the growing adoption of radar sensor technology in both BSD and ACC systems leverages advanced sensor technologies, which drive this segment’s expansion.
The sport utility vehicle (SUV) segment is expected to have the highest CAGR during the forecast period
The sport utility vehicle (SUV) segment is anticipated to have highest CAGR during the forecast period due to their larger size, addressing blind spots that might be more pronounced in these vehicles. As SUVs are often larger vehicles with larger blind spots, BSD has become a sought-after feature for many SUV buyers. Moreover, ACC, on the other hand, appealed to drivers who frequently embarked on long trips, as it reduced fatigue and made highway driving more comfortable, which is boosting this segment’s growth.
Region with largest share:
Europe commanded the largest market share during the extrapolated period owing to its significant traction as integral components of advanced driver assistance systems (ADAS). The European automotive market places a strong emphasis on safety and technological innovation, driving the adoption of BSD and ACC in various vehicle segments. Furthermore, the densely populated and diverse road environments across European countries make BSD systems crucial for enhancing safety, which is propelling this region’s expansion.
Region with highest CAGR:
North America is expected to witness highest CAGR over the projection period, owing to the region's commitment to technological advancements and road safety. This region is home to some of the major key players, such as Valeo SA, Magna International Inc., ZF Friedrichshafen AG, and Bosch GmbH. Moreover, this region has been at the forefront of adopting advanced driver assistance systems (ADAS), and BSD and ACC are integral components contributing to safety and reducing the risk of accidents caused by unintentional lane changes, which drive this region's growth.
Key players in the market
Some of the key players in the Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market include Hella, Autoliv, Aisin, Continental AG, Trw, Bosch GmbH, Valeo SA, Delphi Technologies, and Denso Corporation.
Key Developments:
In December 2023, Continental and Telechips Collaborate on Smart Cockpit High-Performance Computers.
In November 2022, Hella Gutmann and ADAC extend their partnership with telematics and remote diagnosis.
Types Covered:
• Camera
• Rador Sensor
• Ultrasonic Sensor
• Other Types
Applications Covered:
• Roadster
• Minivan
• Sport Utility Vehicle (SUV)
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market, By Type
5.1 Introduction
5.2 Camera
5.3 Rador Sensor
5.4 Ultrasonic Sensor
5.5 Other Types
6 Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market, By Application
6.1 Introduction
6.2 Roadster
6.3 Minivan
6.4 Sport Utility Vehicle (SUV)
6.5 Other Applications
7 Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Hella
9.2 Autoliv
9.3 Aisin
9.4 Continental AG
9.5 Trw
9.6 Bosch GmbH
9.7 Valeo SA
9.8 Delphi Technologies
9.9 Denso Corporation
List of Tables
1 Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Region (2021-2030) ($MN)
2 Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Type (2021-2030) ($MN)
3 Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Camera (2021-2030) ($MN)
4 Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Rador Sensor (2021-2030) ($MN)
5 Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Ultrasonic Sensor (2021-2030) ($MN)
6 Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Other Types (2021-2030) ($MN)
7 Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Application (2021-2030) ($MN)
8 Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Roadster (2021-2030) ($MN)
9 Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Minivan (2021-2030) ($MN)
10 Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Sport Utility Vehicle (SUV) (2021-2030) ($MN)
11 Global Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Other Applications (2021-2030) ($MN)
12 North America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Country (2021-2030) ($MN)
13 North America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Type (2021-2030) ($MN)
14 North America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Camera (2021-2030) ($MN)
15 North America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Rador Sensor (2021-2030) ($MN)
16 North America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Ultrasonic Sensor (2021-2030) ($MN)
17 North America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Other Types (2021-2030) ($MN)
18 North America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Application (2021-2030) ($MN)
19 North America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Roadster (2021-2030) ($MN)
20 North America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Minivan (2021-2030) ($MN)
21 North America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Sport Utility Vehicle (SUV) (2021-2030) ($MN)
22 North America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Other Applications (2021-2030) ($MN)
23 Europe Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Country (2021-2030) ($MN)
24 Europe Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Type (2021-2030) ($MN)
25 Europe Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Camera (2021-2030) ($MN)
26 Europe Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Rador Sensor (2021-2030) ($MN)
27 Europe Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Ultrasonic Sensor (2021-2030) ($MN)
28 Europe Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Other Types (2021-2030) ($MN)
29 Europe Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Application (2021-2030) ($MN)
30 Europe Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Roadster (2021-2030) ($MN)
31 Europe Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Minivan (2021-2030) ($MN)
32 Europe Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Sport Utility Vehicle (SUV) (2021-2030) ($MN)
33 Europe Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Other Applications (2021-2030) ($MN)
34 Asia Pacific Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Country (2021-2030) ($MN)
35 Asia Pacific Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Type (2021-2030) ($MN)
36 Asia Pacific Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Camera (2021-2030) ($MN)
37 Asia Pacific Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Rador Sensor (2021-2030) ($MN)
38 Asia Pacific Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Ultrasonic Sensor (2021-2030) ($MN)
39 Asia Pacific Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Other Types (2021-2030) ($MN)
40 Asia Pacific Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Application (2021-2030) ($MN)
41 Asia Pacific Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Roadster (2021-2030) ($MN)
42 Asia Pacific Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Minivan (2021-2030) ($MN)
43 Asia Pacific Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Sport Utility Vehicle (SUV) (2021-2030) ($MN)
44 Asia Pacific Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Other Applications (2021-2030) ($MN)
45 South America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Country (2021-2030) ($MN)
46 South America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Type (2021-2030) ($MN)
47 South America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Camera (2021-2030) ($MN)
48 South America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Rador Sensor (2021-2030) ($MN)
49 South America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Ultrasonic Sensor (2021-2030) ($MN)
50 South America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Other Types (2021-2030) ($MN)
51 South America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Application (2021-2030) ($MN)
52 South America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Roadster (2021-2030) ($MN)
53 South America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Minivan (2021-2030) ($MN)
54 South America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Sport Utility Vehicle (SUV) (2021-2030) ($MN)
55 South America Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Other Applications (2021-2030) ($MN)
56 Middle East & Africa Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Country (2021-2030) ($MN)
57 Middle East & Africa Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Type (2021-2030) ($MN)
58 Middle East & Africa Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Camera (2021-2030) ($MN)
59 Middle East & Africa Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Rador Sensor (2021-2030) ($MN)
60 Middle East & Africa Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Ultrasonic Sensor (2021-2030) ($MN)
61 Middle East & Africa Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Other Types (2021-2030) ($MN)
62 Middle East & Africa Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Application (2021-2030) ($MN)
63 Middle East & Africa Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Roadster (2021-2030) ($MN)
64 Middle East & Africa Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Minivan (2021-2030) ($MN)
65 Middle East & Africa Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Sport Utility Vehicle (SUV) (2021-2030) ($MN)
66 Middle East & Africa Blind Spot Detection (BSD) System and Adaptive Cruise Control (ACC) System Market Outlook, By Other Applications (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
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The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
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