Press release
Automotive Lane Warning System Market Size to Reach at a Highest CAGR of 16.7% in 2023-2030 | Continental AG, Delphi Automotive PLC, Denso Corporation
Automotive Lane Warning System Market
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Automotive Lane Warning Systems Market Competitive Landscape
Continental AG
Delphi Automotive PLC
Denso Corporation
IMV Corporation
NXP Semiconductor
Robert Bosch GmbH
Valeo
ZF Friedrichshafen AG
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).
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.
During COVID-19 the supply chain of automotive lane warning systems was muted attributed to rising virus infection and strict lockdown measures taken by governments of all nations. In addition, during the same period, a chip shortage was seen which caused a major setback in the production of lane warning systems.
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Automotive Lane Warning System Market 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.
Automotive Lane Warning System Market: Reasons to Acquire
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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.
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 for 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.
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