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Lane Keep Assist System Global Market Worth $18.58 Billion at a CAGR of 21.0% By 2027 | Key Players: Volkswagen AG, Robert Bosch GmbH, Panasonic Corporation, ZF Friedrichshafen AG, Denso Corporation
Lane Keep Assist System Market
The Business Research Company's Lane Keep Assist System Global Market Report 2023 identifies the surge in demand for automobiles is expected to propel the growth of the lane-keep assist system market going forward. An automobile is an internal combustion-powered, four-wheeled self-propelled vehicle intended for personal mobility.
The global lane keep assist system market is expected to grow from $7.06 billion in 2022 to $8.66 billion in 2023 at a compound annual growth rate (CAGR) of 22.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The lane keep assist system market is expected to reach $18.58 billion in 2027 at a CAGR of 21.0%.
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Major players in the lane keep assist system market are Volkswagen AG, Mercedes-Benz Group AG, Robert Bosch GmbH, Panasonic Corporation, ZF Friedrichshafen AG, Denso Corporation, Continental AG, Mitsubishi Electric Corporation, Hyundai Mobis, Magna International Inc., Aisin Seiki Co. Ltd, Nvidia Corporation, Valeo S.A., Texas Instruments Incorporated, Aptiv PLC, Infineon Technologies AG, Hitachi Astemo Ltd., JTEKT Corporation, Renesas Electronics Corporation, Autoliv Inc., HELLA GmbH & Co., Omron Corporation, Visteon Corporation, Pioneer Corporation, Gentex Corporation, Mobileye Global Inc., Veoneer Inc., Bendix Commercial Vehicle Systems LLC, Stoneridge Inc., and TomTom N.V.
Technological advancements are a key trend gaining popularity in the lane keep assist system market. Major companies operating in the lane keep assist system market are adopting new technologies to sustain their position in the market.
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The Lane Keep Assist System market is segmented -
1) By Component: Vision Sensor Or Camera, Electronic Power-Assisted Steering (EPAS) Actuator, Electronic Control Unit, Other Components
2) By Function Type: Lane Keeping System, Lane Departure Warning
3) By Vehicle Type: Passenger Vehicles, Commercial Vehicles
4) By Propulsion: Internal Combustion Engines, Electric And Hybrid
5) By Sales Channel: Original Equipment Manufacturers (OEMs), Aftermarket
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Lane Keep Assist System market.
The Business Research Company's "Global Lane Keep Assist System Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Lane Keep Assist System Market Include:
1. Executive Summary
2. Lane Keep Assist System Market Characteristics
3. Lane Keep Assist System Market Trends And Strategies
4. Lane Keep Assist System Market - Macro Economic Scenario
5. Lane Keep Assist System Market Size And Growth
……
27. Lane Keep Assist System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Lane Keep Assist System Market
29. Lane Keep Assist System Market Future Outlook and Potential Analysis
30. Appendix
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