The automotive lane warning system market is benefiting from the rise in concerns about car safety. Also, upon experiencing high demand, several manufacturers have implemented this technology into both, passenger and commercial vehicles. Moreover, the increasing number of accidents, and growing awareness about road safety, are driving the demand for an automotive lane warning system in the global market. Furthermore, the government regulatory policies regarding road safety, are also expected to boost the demand.
On the other hand, the higher cost of technology, and availability of the system in luxury vehicles alone, are expected to hinder market growth. The global Automotive Lane Warning System Market size is 6.93 billion USD in 2022 and is projected to reach a CAGR of 16.7% from 2023-2030.
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Delvens Industry Expert's Standpoint
There is a rise in the safety concern of automobiles in recent years. People are becoming more and more cautious when it comes to their safety. The need for safety features and autonomous and semi-autonomous driving technologies are expected to develop the automotive lane warning system market. However, there is a high chance that software issues related to sensor failures, high initial costs, and complicated structures may restrain the market's expansion. Additionally, tight guidelines for safety features and an increase in the desire for comfort while driving will be opening up prospects for market expansion in the future.
Key Findings
- The functions segment is further segmented into Lane Departure Warning Systems and Lane Keeping Systems. The lane departure warning systems segment is expected to account for a key share of the market during the forecast period, these systems provide a set of safety technologies that mainly prevent high-speed accidents on roads, highways, and expressways. Growing consumer safety issues have created a demand for advanced driver assistance systems (ADAS). This, in turn, has promoted the requirement for a lane departure warning system (LDWS).
- Based on sales channels, the automotive lane warning systems market is bifurcated into OEMs and aftermarket. The OEMs segment is expected to account for a key share of the market during the forecast period due to the integration of a large number of vehicles with lane departure warning systems. Moreover, the rapid adoption rate and continuous update of the system by OEMs are expected to propel segment growth.
- The sensor type segment is further fragmented into Infrared Sensors, Laser Sensors, and Video Sensors. The video sensors segment is expected to account for a significant market share during the forecast period as remote-sensing camera systems are gradually becoming an integral part of active vehicle safety systems. Sensor cameras provide a higher level of performance than general-purpose driving cameras while meeting automotive quality standards with a cost-effective solution.
- In terms of vehicle types, the automotive lane warning systems market is segregated into passenger cars, lightweight commercial vehicles, and heavy-weight commercial vehicles. The passenger cars segment is expected to grow at a robust rate during the forecast period In the automotive sector, the growing demand for passenger vehicles with higher safety, comfort, and driving efficiency has driven the growth of the passenger cars segment.
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Regional Analysis
North America to Dominate the Market
- North America is anticipated to dominate the market during the forecast period. The regional market growth is attributed to the presence of major automobile manufacturers. Moreover, governments in the region have been focusing on the development of safer driving technologies, especially in passenger cars.
Recent Developments:
- In January 2022, Bosch announced that it has supplied its Lane departure warning system (LDWS) to BYD's Qin Pro DM 2022 China version.
- In April 2021, ZF revealed that its most advanced autonomous emergency braking assistance technology will be mass-produced in China. From this year, two big Chinese truck manufacturers will deploy OnGuardMAX in new truck models. OnGuardMAX also has other safety features including LDW (Lane Departure Warning) and ACC (Adaptive Cruise Control).
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- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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Competitive Landscape
- Continental AG
- Delphi Automotive PLC
- Denso Corporation
- IMV Corporation
- NXP Semiconductor
- Robert Bosch GmbH
- Valeo
- ZF Friedrichshafen AG
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COVID-19 Impact Analysis on Automotive Lane Departure Warning System Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Automotive Lane Departure Warning System Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/automotive-lane-departure-warning-system-market/download-sampleMarket DynamicsIncreased concerns about car & road safety, the rising number of accidents, and growing awareness about the benefits of the automotive lane departure warning system drive the demand for the automotive lane warning system worldwide.
One of the prime causes of a single vehicle crash and frontal crashes is lane departure.
The goal of the automotive lane departure warning system is to help to avoid such collisions.
Automotive lane departure warning system can reduce up to 7 % of all relevant accidents with injuries and fatalities.
The study offers a scrutiny of all regional factors and key global trends that have impacted the growth dynamic during the historical period.
The sizing of the key segments and regional markets are offered in both in relation to value (US$Mn/Bn) and volume (n units) during the forecast period 2018 – 2027.
The study by Fact.MR offers an uncluttered overview of prevailing opportunities in various regions, promising avenues in key segments, and competitive landscape.The study provides insights into major opportunities, prevailing competitive dynamics, and key government regulations that will be crucial to the expansion of key regional markets.
It has caused an economic earthquake and has brought unprecedented losses.
To paint the colors of growth on the COVID-19 affected business canvas, Fact.MR brings a thorough and detailed report on the Lane Departure Warning System market through near-perfect visualization and deep information extraction.
Path-breaking trends in the Lane Departure Warning System market that have the potential of changing the competitive landscape also acquire an important place in the report.
In a recent business intelligence study, FactMR presents the nitty-gritty of the global lane departure warning system market considering 2013-2017 as the historic year and 2018–2027 as the stipulated time frame.
The business report highlights the drivers, restraints, opportunities and trends affecting lane departure warning system market growth.
Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume.The lane departure warning system market report addresses the below-mentioned queries:Why are vendors shifting away from traditional methods of manufacturing lane departure warning system?How the global lane departure warning system market does looks like in the next five years?Which end use industry is expected to surpass segment by the end of 2027?What innovative products are being introduced by the players in the global lane departure warning system market?In terms of revenue, the lane departure warning system market is estimated to expand at a CAGR of 14.2% over the forecast period, owing to the numerous factors, about which Fact.MR offers thorough insights and forecasts in this report.
The current growth trend of the lane departure warning system market has prominently influenced by the increasing number of motor vehicles across all the regions of the globe.
Advancement in autonomous technology amalgamate innovations in the automobile systems, and automobile components have become a tool for a consumer as well as a marketer to expose and expand their products which are likely to boost the lane departure warning system market.The global market for lane departure warning system is segmented as per product type, sensor type, by sales channel, and by end use applications.
This report assesses trends that are driving the growth of each segment on the global level and offers potential takeaways that could prove substantially useful to lane departure warning system manufacturers looking to enter the market.
