LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global commercial vehicle blind spot detection system (BSD) market to grow at a CAGR of above 12% during the period 2018-2022, according to their latest report.
This market research report segments the global commercial vehicle blind spot detection system market into the following applications, including LCVs and M&HCVs and key regions, including the Americas, APAC, and EMEA.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
In this report, Technavio analysts highlight the growing demand for safety solutions in vehicles as a key factor contributing to the growth of the global commercial vehicle blind spot detection system market:
Growing demand for safety solutions in vehicles
The demand for vehicle safety is one of the major drivers in the development of advanced automotive safety systems. They are mostly found in premium vehicles as the cost of such systems is high. With time, these systems have become a necessity in most vehicles. Consumers are highly aware of these systems and technology and are taking great interest in ensuring the safety of their vehicles. Nowadays, several entry-level vehicles are being installed with electronic equipment, such as cameras and sensors, to improve their safety.
The advent of such automotive safety systems has enabled automakers to carefully examine various accidents and develop adequate measures to prevent them effectively. Advanced driver assistance and safety systems include BSD systems, FCW, LDWS, surround-view systems that help the driver to examine road conditions and the possible risks thereby avoiding a fatal accident.
According to a senior analyst at Technavio for automotive electronics, “The most common reason for accidents are the blind spots around a truck or a bus. As commercial vehicles are longer and wider than passenger cars, their blind spots are much larger. Implementation of commercial vehicle BSD systems will improve the safety of pedestrians and cyclists by eliminating blind spots efficiently.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global commercial vehicle blind spot detection system market segmentation
Of the two major applications, the LCVs segment held the largest market share in 2017, accounting for nearly 78% of the market. The market share for this application is expected to increase by 2022.
The Americas was the leading region for the global commercial vehicle blind spot detection system market in 2017, accounting for a market share of nearly 65%. By 2022, the Americas is expected to continue dominating the market while registering a growth of nearly 7%. Similarly, APAC is also expected to witness a positive growth during the forecast period.
Technavio’s best deals of the month!
Technavio supports Health for All campaign on this World Health Day with 20% savings on all reports in the Health and Wellness category for the entire month.
Celebrate International Astronomy Day by indulging in a whopping 30% savings on all reports in the Space category. Offer valid from 16th April for a limited period.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.