Press release
Rising Adoption in the Automobiles to Drive the Lane Departure Warning System Market || Key Players: Magna International Inc., WABCO, Bendix Commercial Vehicles Systems LLC, and ZF Friedrichshafen AG.
The demand for alert system segment of lane departure warning system market is estimated to grow at a significant rate during the forecast period. The lane keeping system segment of the lane departure warning system is growing at a relatively slower pace as compared to alert system. The slow growth for the lane keeping system in the market is due to the high price of the system and availability of the system in the premium vehicles. The alert system is lower priced and available in mid-size, luxury, premium cars along with the commercial vehicle. Therefore, it holds more than 70% share in terms of value in 2018.
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Alert System sub-segment of Lane Departure Warning System is estimated to dominate the market
The demand for alert system segment of lane departure warning system market is estimated to grow at a significant rate during the forecast period. The lane keeping system segment of the lane departure warning system is growing at a relatively slower pace as compared to alert system. The slow growth for the lane keeping system in the market is due to the high price of the system and availability of the system in the premium vehicles. The alert system is lower priced and available in mid-size, luxury, premium cars along with the commercial vehicle.
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APEJ: Market Leader in the lane departure warning system
The lane departure warning system market has been evaluated across primary regions such as North America, Latin America, Europe, Japan, Asia Pacific Excluding Japan (APEJ) and Middle East & Africa (MEA). Lane departure warning system market in APEJ is expected to witness promising growth over the forecast period. The market for lane departure warning system in APEJ is estimated to grow at a significant CAGR and will represent a substantial incremental dollar opportunity during the forecast period.
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Key players operating in the global market for lane departure warning system, include Robert Bosch GmbH, Denso Corporation, Aptiv plc, Continental AG, Autoliv Inc., Mobileye, Magna International Inc., WABCO, Bendix Commercial Vehicles Systems LLC, and ZF Friedrichshafen AG.
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