Even as it is estimated that it will take longer than expected for the automotive industry to function as per its normal pace, trends such as the need for personal mode of transportation are likely to create future growth prospects post the COVID-19 crisis. At-home test drive, review videos, and digital showrooms are emerging as game changers in the automotive blind spot detection market. This is evident since even before the pandemic, auto shoppers were turning to YouTube to experience digital test drives.
Given the current shelter-in-place policies, alternatives to a dealer visit such as virtual reality (VR) test drives, online configurator, and video conferences are anticipated to keep economies running in the automotive blind spot detection market. Car brands that want potential buyers to engage with specific models should consider highlighting video content of interior overviews, walk arounds, and review videos.
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Is it Worth Investing in Blind Spot Detection Solutions?
Blind spot monitoring is one of the most useful tools to ensure safe driving. However, price conscious buyers are critical about investing in automotive blind spot detection solutions due to the common assumption that drivers mostly coped without these features for decades in the past. Hence, companies in the automotive blind spot detection market are targeting SUV buyers and auto shoppers with high budgets, since these cars have far larger blind spots as compared to a low budget sedan.
The automotive blind spot detection market is undergoing a significant change with upgrades such as the change from passively warning the driver to actively helping him to a potential collision. Manufacturers are gaining a strong research base in solutions that are capable of maneuvering the steering and brakes to avoid a collision.
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Aerodynamic Vehicles Fuel Demand for Blind Spot Detection Sensors
Heavyweights such as Nissan, Ford, Toyota, and Hyundai, among others, are intensifying competition in the automotive blind spot detection market. Companies including Bosch Mobility Solutions have stepped up the competition by publicizing its blind spot detection solution, which makes use of ultrasonic sensors to monitor the area alongside and behind the car.
An aerodynamic vehicle might gain in optical appeal and eco-friendliness, but it is subject to lose its all-round vision. Stakeholders in the automotive industry are capitalizing on such opportunities to increase the availability of automotive blind spot detection solutions to prevent vehicle boarders from ending up in critical situations. As such, there is a growing demand for solutions that assist in lane changing to reduce the risk of accidents.
Drawbacks of Camera Link Technology with Bandwidth Influence Buyer Decision
The automotive blind spot detection market is predicted to clock a striking CAGR of ~13% during the forecast period. Automotive camera systems are being used in link with sensors to innovate in blind spot detection solutions. However, shortcomings of the camera link technology, such as the requirement for bandwidth are influencing the buyer’s decision. For instance, support vector machines (SVM) systems operate at low speed and use low refresh rates, which require limited bandwidth whereas wing-mirror replacement systems use high refresh rates and demand increased bandwidth. Hence, carmakers are suggesting automotive camera systems as per the auto shopper’s budget to provide him optimum value proposition for his or her purchase.
Traditional rear-view camera (RVC) systems built on standard definition (SD) video technologies serve as a reliable and cost-effective method for transferring video within the vehicle. Growing consumer expectations and legislative developments are acting as key drivers for the automotive blind spot detection market.
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