Blind Spot Monitor Market Trends

Growth Drivers

• Growing Demand for Safety System in Cars – The blind spot detection (BSD) system can monitor the area, relieving the driver of much of the burden and avoiding potentially dangerous circumstances. In a survey of just over 1,000 adults conducted in America in January 2021, around 80% respondent wanted current vehicle safety systems, such as automatic emergency braking and lane keeping assistance, to work better. Moreover, nearly 58% wanted these systems in their next vehicle.
• Rising Popularity of Luxury Vehicles–Most of the luxury vehicles are installed with advanced sensor that operates the working of blind spot monitor. Unit sales in the global luxury Cars industry sector are estimated to reach 217,000 cars in 2027.
• Increasing Instances of Vehicle Crashes – Research indicates that blind spot warnings can prevent drivers from smashing into another car that is travelling in the same directions in an adjacent lane. According to the World Health Organization, every year, 1.35 million people are killed on the world's roads. Every day, about 3,700 people are injured in automobile, bus, motorcycle, bicycle, truck, or pedestrian accidents around the world.
• Growing Government Initiatives to Secure Road Safety – Rising awareness for vehicle safety is likely to increase the demand for the blind spot monitor market and other sensors. The government of India has suggested establishing the Bharat New Vehicle Safety Assessment Programme - BNVSAP in the draught Road Transport and Safety Bill. Cars would be checked for safety in front-on and side-on crash tests under this programme.
• Growing Investment in Automotive Technologies–Rising investment in the automotive technologies is likely to advance the technology and give consumer even sharper features. Amazon is working to achieve the objectives set forth in the National Roadway Safety Strategy (NRSS) of the United States Department of Transportation. Amazon is expected to invest USD 200 million investment in modern safety technology.

Challenges

• High cost and complex components of the blind spot monitor
• Poor efficiency in bad weather
• Low reliability of the blind spot monitor- The disadvantages will vary depending on the vehicle, but some systems are not designed to operate efficiently at low speeds. This means the system is limited in usage or altogether ineffective at lower speeds.