The Adaptive Cruise Control (ACC) and Blind Spot Detection (BSD) Market is expected to register a CAGR of 15.12%, during the forecast period, 2019-2024.
Owing to the rise in accidents, the enactment of stringent safety regulations and the increasing vehicle safety concerns among the consumers are expected to drive the market studied.
The number of on-road accidents is growing rapidly, and it is estimated that, on average, every single road accident result in at least two people killed and five seriously injured. According to the World Health Organization, nearly 1.35 million people died annually due to road accidents in 2018. The cause of these accidents is mostly attributed to the driver’s inability to judge certain conditions and make the right decisions. The efforts of governments to reduce fatalities due to road accidents have led to increased installation of safety systems in new vehicles.
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The growing awareness of vehicle safety has been one of the vital factors in the development of advanced safety systems such as adaptive cruise control and blind spot detection. On the other hand, an increase in the sales of luxury vehicles across the globe is also driving the market for ACC and BSD.
Scope of the Report
The global adaptive cruise control (ACC) and blind spot detection (BSD) market have been segmented by type, vehicle type, sales channel type, technology, and geography.
Key Market Trends
Increasing Demand for Blind Spot Detection
The blind spot detection system uses electronic detection devices mounted on both sides of the car (either near the external rearview mirrors or near the rear bumpers). These devices send out either electromagnetic waves (usually in the radar wavelengths) or take images with a digital camera, and analyze them.
When the BSD detects any vehicle coming from the rear, and the driver attempts to steer towards the approaching vehicle, this system warns the driver about the impending impact by flashing a light in the driver's peripheral vision and/or by making audible sounds. In modern advanced systems, blind spot detections also have an assist feature that steers the car back into the safety zone.
Ford was the first company to introduce blind spot detection in its cars in 2005, under the name of Blind Spot Information System (BLIS). The system used cameras mounted near the car’s side rearview mirror, which process the images and warns the driver. Now, these cameras have been replaced with radars sensors mounted on the car’s bumpers. Audi’s Side Assist and Infiniti’s Blind Spot Warning (BSW) are some alternate products in the market.
- Infiniti’s Blind Spot Intervention, a system capable of detecting any vehicle in the blind spot and intervening by not letting the driver change the lane until the danger has passed, is considered a major breakthrough in BSD technology.
Apart from the passenger cars, the demand for advanced driver assistance system and collision avoidance system is also increasing in commercial vehicles, especially large trucks. Commercial vehicles are longer and wider than passenger cars, making the blind spots much larger.
- Thus, to enhance safety and eliminate blind spots, companies, in consultation with commercial vehicles manufacturers, are developing blind spot detection systems that are suitable for these vehicles.
- For instance, in October 2017, WABCO launched OnSide Blind Spot Detection System at Management Conference & Exhibition (MCE) 2017, for commercial vehicles and trailers.
More than 90% of the market is captured by OEMs, with a limited and unorganized aftermarket for the blind spot detection system. The rising vehicle safety concerns and a growing number of blind spot related accidents are some of the factors driving the market for BSD systems.
Asia Pacific and North America Driving the Market
The Asia-Pacific region is expected to contribute significantly to the growth of both BSD and ACC markets. Factors such as increasing vehicle sales, especially premium vehicles, along with the increase in safety installations per vehicle, contribute to the growing demand for BSD and ACC systems. However, the bulk market share is captured by North America, occupying around 32% of the total market as of 2018. The United States New Car Assessment Program (US NCAP), a flagship of the country's National High Traffic Safety Administration (NHTSA) has focused on the incorporation of these safety systems which could reduce the safety-related concerns of buyers. In addition, improvements in the rating system will further effect a positive change in the safety features of the vehicles.
The presence of fast-developing countries like Japan and South Korea and the safety regulations imposed on vehicles in the region have influenced the market for driving assistance systems significantly. These regulations are as stringent as that of Europe and North America. The improving socio-economic conditions in India, Thailand, and Indonesia have created demand for premium segment passenger cars, thereby increasing the demand for ADAS in these countries.
The rising awareness for driver safety systems is enhancing the market for ADAS-equipped vehicles in this region. Government regulations are compelling the car manufacturers to design their vehicles with advanced ADAS modules. Moreover, the evolution of autonomous cars in this region is creating the opportunity for Tier-1 manufacturers to design and deliver ADAS with the latest technologies and user-friendly systems.
Competitive Landscape
Companies, such as Continental AG, Robert Bosch GmbH, Autoliv Inc., Denso Corporation, and Delphi Automotive PLC are some of the major players in the market. To meet the increasing standards for safety features in the vehicles, major ACC and BSD manufacturers in the market have started investing in R&D activities. For instance, in Feb 2018, Continental AG invested USD 59 million for building a new R&D center in Queretaro, Mexico. The research staff in the center will focus on developing hardware and software, for various ADAS features. Thus, the automotive market is anticipated to witness improved and advanced safety features, during the forecast period.
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Table of Contents
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Current Market Scenario
4.2 Technology Trends
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Market Drivers
4.5 Market Restraints
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Adaptive Cruise Control (ACC)
5.1.2 Blind Spot Detection (BSD)
5.2 By Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3 By Sales Channel
5.3.1 OEM
5.3.2 Aftermarket
5.4 By Technology
5.4.1 Infrared
5.4.2 Radar
5.4.3 Image
5.4.4 Others
5.5 Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.1.3 Mexico
5.5.1.4 Rest of North America
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 United Kingdom
5.5.2.3 France
5.5.2.4 Spain
5.5.2.5 Rest of Europe
5.5.3 Asia Pacific
5.5.3.1 China
5.5.3.2 Japan
5.5.3.3 India
5.5.3.4 South Korea
5.5.3.5 Rest of Asia-Pacific
5.5.4 Rest of the World
5.5.4.1 Brazil
5.5.4.2 Argentina
5.5.4.3 Other Countries
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Continental AG
6.2.2 Delphi Technologies
6.2.3 DENSO Corporation
6.2.4 Autoliv
6.2.5 Magna International
6.2.6 WABCO Vehicle Control Services
6.2.7 Robert Bosch GmbH
6.2.8 ZF TRW
6.2.9 Bendix Commercial Vehicle Systems LLC
6.2.10 Mobileye
6.2.11 Mando-Hella Electronics Corp.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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