Press release
Demand for Lane Departure Warning System Market To Soar from Use Industries and Push Revenues in Market : Fact.MR
According to a recent report published by Fact.MR, the lane departure warning system market would grow at a rate of 14% from 2021 to 2031, reaching an impressive revenue threshold. Prominent manufacturers are expected to capitalize on the surging popularity of autonomous vehicles to expand their influence across key regions.During the period 2016-2020, the global lane departure warning system market grew at a rapid pace, experiencing a CAGR of 12% throughout the historical period. Luxury and premium vehicles, as well as commercial vehicles, increasingly seek lane departure warning systems, with OEMs expected generate heightened revenue prospects.
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Key Segments Covered
Product Type
Lane Departure Alert System
Lane Keeping System (LKS)
Sensor
Video Sensor Lane Departure Warning System
Laser Sensor Lane Departure Warning System
Infrared Sensor Lane Departure Warning System
End Use Application
PCV Lane Departure Warning System
LCV Lane Departure Warning System
HCV Lane Departure Warning System
Sales Channel
Lane Departure Warning Systems for OEMs
Lane Departure Warning Systems for Aftermarkets
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Key takeaways from the Market Study
The passenger automobile segment accounts for a sizable portion, expanding at a CAGR of 10% through 2031
By sensor type, demand for video lane departure warning systems is likely to account for 2 out of 5 sales
By sales channel, OEMs are expected to emerge as the top category, expanding at over 15% CAGR
Lane keeping systems likely to account for 70% of global LDW system demand through 2031
Asia to emerge as a lucrative market, poised to register a CAGR of over 16.2% in the long-run
U.S to register a CAGR of 6.26%, expected to reach a valuation of US$ 3.4 Bn
North America and Europe to collectively account for more than 35% revenue share
"Increasing vehicle ownership spurred by swift urbanization, combined with increasing tilt towards autonomous vehicles is prompting automotive manufacturers to equip vehicles with advanced lane departure warning systems, bolstering growth," says a Fact.MR analyst.
Competitive Landscape
Manufacturers in the lane departure warning market will focus on strategic acquisitions, collaborations, and product releases in the following decade.
Bosch's latest third-generation multi-purpose camera is a vital component in the installation of new driver assistance features for improved safety in heavy goods traffic.
The latest backbone of Mobileye's self-driving system is a camera-centric arrangement. It can determine the important safety portions by building a powerful system that can drive exclusively on cameras.
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global lane departure warning system market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study indulges essential insights on the market on the basis of product type (lane departure system and lane keeping system), sensor (video sensor, laser sensor and infrared sensor) and end use application (PCV, LCV and HCV) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
Source - https://www.factmr.com/report/2540/lane-departure-warning-system-market
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