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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