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Based on Technavio's market sizing methodology, the commercial vehicle blind spot detection system market size is predicted to surge to 961.74 million units from 2021 to 2026 at a CAGR of 5.3%.
This commercial vehicle blind spot detection system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers commercial vehicle blind spot detection system market segmentation by:
The commercial vehicle blind spot detection system market vendors are - 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 among others.
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Technavio categorizes the global commercial vehicle blind spot detection (BSD) system market as a part of the global auto parts and equipment market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the commercial vehicle blind spot detection system market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the commercial vehicle blind spot detection system market encompasses successful business strategies deployed by the key vendors. 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.
BorgWarner Inc. - BorgWarner Inc. is a public company headquartered in US. It is a global company generating $14,838 million in revenues and has around 49,300 employees. Its revenue from the global commercial vehicle blind spot detection system contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company.
BorgWarner Inc. - The company offers commercial vehicle blind spot detection system namely Lane Change Assistance which monitors the area around a vehicle for any lane movement. If the system determines that its unsafe to change lanes, because of another vehicle in the intended lane, it signals an alarm.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The commercial vehicle blind spot detection system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the commercial vehicle blind spot detection system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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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. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, COVID-19 spread widely in North America, especially in the US. The rising number of deaths from COVID-19 led to the imposition of lockdowns in various countries in the region, primarily during the first half of 2020. However, the region is witnessing a decline in the number of COVID-19 cases with the availability of COVID-19 vaccines. As a result, operations in end-user industries stabilized during 2021, which, in turn, 14.5 million vehicles were sold in the region. Therefore, these factors are expected to drive the growth of the commercial vehicle BSD system market in the region during the forecast period.
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
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