Press release
Automotive Lane Warning System Market to Expand Substantially Owing to Technological Innovations During 2017-2025
According to a report published in the World Health Organization in 2016, Around 20-50 million people suffer from non-fatal injuries in road crashes in the world per year, and it has been proved that with the usage of the right safety systems, this number can be successfully brought down. Increasing road accidents along with growing awareness about road safety are likely to drive the growth of the global automotive lane warning system market. Furthermore, increasing demand for automobile and stringent regulatory policies in regard to road safety as well as obligatory use of warning system are anticipated to fuel the demand for automotive lane warning system in the coming years. Nonetheless, integration of lane departure warning system may increase the overall cost of the vehicle. Hence, vehicle manufacturers typically avoid the integration of the lane warning system and this may act as a restraining factor for the growth of the overall market.
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The global automotive lane warning system market can be segmented on the basis of product type, sensor type and end use. Based on product type, the global automotive lane warning system market can be segregated into lane departure keeping system and lane warning system with alerts. Lane departure warning system with alerts offers vibration, audible, and visual alerts whereas lane departure keeping system keeps the vehicle in lane in cases where the driver ignores the alerts. The market can be divided on the basis of end user into original equipment manufacturer (OEM) and aftermarket. The OEM segment is likely to constitute the major share of the global automotive lane warning system market.
The global automotive lane warning system market can be segmented into five regions namely North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Europe is likely to account for the maximum share in the global automotive lane warning system market. Stringent regulatory framework, rising demand for automobiles with advanced safety features such as lane warning system, and power-assisted steering are some of the factors that are likely to boost the growth of the market in this region over the forecast period.
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The global automotive lane warning system market is categorized by the presence of a large number of well-established players as well as regional vendors. Continuous R&D investments from numerous OEMs and Tier-I players including Bosch, Continental and Delphi to develop advanced lane warning system and improve safety and comfort will encourage the market growth. Some of the key players operating in the global automotive lane warning system market are DENSO EUROPE, Robert Bosch GmbH, Delphi Automotive LLP, Autoliv Inc., Continental AG, Mobileye, WABCO, Magna International Inc., ZF TRW and Bendix Commercial Vehicles Systems LLC.
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