Press release
Lane Departure Warning System Market Size, Industry Analysis Report and Regional Outlook 2025
Lane Departure Warning System Market
North America will also account for a significant share in the industry owing to increasing road safety concerns. Lane departure warning system market from Asia Pacific is anticipated to grow rapidly over the next eight years owing to high penetration of ADAS in countries including China, Japan, and South Korea.
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Integration of these systems with the vehicles increases the overall vehicle cost. This excessive cost may hamper the lane departure warning system market growth since the customers are reluctant to purchase this feature for their vehicle. Industry participants are focusing towards overcoming these challenges by developing cost effective solutions and incorporating enhanced components in the system.
What Information does this report contain?
• Historical data coverage: 2014 to 2018; Growth Projections: 2019 to 2025.
• Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
• 6-7 year performance forecasts: major segments covering applications, top products and geographies.
• Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.
The industry is segmented based on function into lane departure warning system with alert and lane keep assist. Lane departure warning system with alerts is likely to grow significantly owing to its multiple benefits offered such as vibration, visual, and audible alerts when vehicle moves out of the lane. Lane keep assist systems will grow owing to their preference over the counterpart due to their autonomous properties. They automatically keep the vehicles in lane if the driver does not take actions even after alerts.
By sales channel, the lane departure warning system market is segmented into OEM and aftermarket. OEM will acquire major share in the industry over the forecast timeframe. The high revenue generation is attributed to the rising penetration of ADAS across the globe. OEMs are shifting their focus towards development of affordable solutions that can be implemented in mass volumes. Stringent regulations along with rising awareness regarding road and passenger safety will result in mass adoption of these systems, fueling the growth of lane departure warning system market from OEMs. Aftermarket will grow significantly owing to its cost effectiveness as compared to the counterpart.
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OEMs are increasingly collaborating with automotive camera manufacturers and safety experts for incorporation of cameras and radars in vehicles, resulting in integration of radar sensing, data fusion, and video sensing technologies into a single module. Furthermore, since these systems are increasingly becoming common and standardized for majority of the vehicles, a fusion of radar and image sensors will help in cost reduction over the forecast timeframe. For instance, Delphi’s RACam is a combination of vision sensing, radar sensing, and data into its single module. These advancements in sensors will propel the passenger and vehicle safety, offering stable growth prospects to the lane departure warning system market till 2024.
The industry is segmented based on function into lane departure warning system with alert and lane keep assist. Lane departure warning system with alerts is likely to grow significantly owing to its multiple benefits offered such as vibration, visual, and audible alerts when vehicle moves out of the lane. Lane keep assist systems will grow owing to their preference over the counterpart due to their autonomous properties. They automatically keep the vehicles in lane if the driver does not take actions even after alerts.
Denso, Bosch, Delphi, Autoliv, Mobileye, Magna, NVIDIA Corporation, Continental, ZF TRW, WABCO, and Bendix Commercial Vehicles Systems are among the prominent participants in the lane departure warning system market. The competitive nature of the industry is likely to intensify due to stringent regulations and rising consumer demand for advanced features and automotive safety.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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