DUBLIN--(BUSINESS WIRE)--The "Global Commercial Vehicle Blind Spot Detection System Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.
Global commercial vehicle blind spot detection system market is forecast to grow at a CAGR of 12.34% during the period 2018-2022.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is increasing use of vision-based blind spot detection using optical flow techniques as the backend technology in BSD systems. Camera module-based BSD systems have been in the market for so long that the underlying technology used therein has become outdated. In recent years (since the late 2000s), vision-based BSD systems, which use optical flow techniques to detect objects on the road, have taken hold.
According to the report, one of the major drivers for this market is insurance companies supporting the demand for advanced safety systems. Automotive safety systems have proven to reduce major road fatalities globally. These have proven beneficial for auto insurance companies too. As a result of these advanced safety systems, auto insurance companies can expect a reduction of claims in the long run. Industry experts believe that using these technologies would reduce insurance claims by 40%.
Further, the report states that one of the major factors hindering the growth of this market is practice of using various mirror combinations as an alternative to BSD systems. Hard facts suggest that BSD systems may be a redundancy, which have been created out of sheer ignorance. While some cars, especially the larger SUVs and off-roading vehicles, have large-sized C pillars, rising beltlines, and squashed rear windows blocking the drivers' line of sights, blind spots on most average vehicles can be eliminated by proper adjustment of mirrors.
- Robert Bosch
Key Topics Covered
1. Executive Summary
2. Scope of the Report
3. Research Methodology
5. Market Landscape
6. Market Sizing
7. Five Forces Analysis
8. Market Segmentation by Application
9. Customer Landscape
10. Regional Landscape
11. Decision Framework
12. Drivers and Challenges
13. Market Trends
14. Vendor Landscape
15. Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/research/8zbd9g/global_commercial?w=4