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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Companies Manufacturing Corner RADAR Sensors Designed for Heavy Commercial Vehicles
RADAR (Radio Detection and Ranging) sensors are gaining prominence in heavy commercial vehicles. This is evident since RADAR sensors are expected to dominate a higher revenue share compared to ultrasonic sensors in the automotive blind spot detection market. These sensors serve as a part of a vehicle’s driver assistance system that helps the driver to change lanes safely by indicating warning against dangerous situations.
Manufacturers in the automotive blind spot detection market are boosting their production capacities in corner RADAR sensors that adhere to legal requirements of owning trucks. Corner RADAR sensors are complementing driver assistance systems to provide more safety, comfort, and convenience to the driver.
Innovations in Blind Spot Detection Sensors Intensify in U.S., Europe
Self-driving cars such as the Tesla are creating future growth prospects for stakeholders in the automotive blind spot detection market. Japanese LiDAR sensor manufacturer Hesai has unveiled its blind spot detection sensor PandarQT meant for autonomous vehicles at the CES (Consumer Electronics Show) 2020. Such innovations have sparked competition in the U.S. and Europe, which is well explained since both these regions dictate the highest revenue share in their respective order among all regions in the market during the projected period.
Automotive Blind Spot Detection Market: Competition Landscape
- Key players operating in the global automotive blind spot detection market include
- Robert Bosch GmbH
- Continental AG
- Denso Corporation
- ZF Friedrichshafen AG
- Siemens AG
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