The global automotive lane warning systems market size is expected to expand at a CAGR of 16.7% during the forecast period, 2021–2028. The growth of the market is attributed to the increasing road accidents, which in turn, have prompted governments and international organizations to formulate a number of strict safety regulations.
A lane warning system is a device that warns the driver when the vehicle starts to deviate from the lane. This technology aims to reduce accidents by eliminating the three main causes of accidents, driving errors, distraction, and fatigue. The system warns the driver if no action is taken. Moreover, the system notifies the driver and automatically takes action to keep the vehicle in the lane. Whenever the driver detects distractions and errors, the system provides the driver with visual, sound, and vibration warnings to avoid such situations. Implementation of lane departure warning systems can prevent nearly 7% of deaths on roads.
Market Trends, Drivers, Restraints, and Opportunities
- Rising disposable income of middle class population demands for luxury cars is expected to boost the market growth during the forecast period.
- Rapid growth of the automotive industry is major factors driving the lane warning systems market growth in the coming years.
- Growing adoption of advanced driver assistant systems in vehicles is projected to fuel the market growth during forecast period.
- High price of lane warning system increases the cost of vehicles is anticipated to hamper the market growth.
- Lack of functionality of lane departure warning systems in sensing faded lane marks or in weather conditions such as fog, rain etc. act as major factors that can restrict the market growth during the forecast period.
- Technological advancement in lane warning system by introducing reverse camera, detectors and monitors with inbuilt advanced driver assistant systems is expected to create lucrative opportunities for the market players.
Scope of Automotive Lane Warning Systems Market Report
The report on the global automotive lane warning systems market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Automotive Lane Warning Systems Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Functions (Lane Departure Warning Systems and Lane Keeping Systems), Sales Channels (OEM and Aftermarket), Sensor Types (Video Sensors, Infrared Sensors, and Laser Sensors), and Vehicles Types (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Mobileye; Delphi Technologies; Denso Corporation; Robert Bosch GmbH; and Continental AG
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Lane Departure Warning Systems Market Segment Insights
Based on functions, the market is bifurcated 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 lane departure warning system (LDWS). Government state bodies of emerging countries has brought strict regulations for the automotive industry, which requires them to install these technologies in new passenger and commercial vehicles as most cases of accidents are mainly caused by unintentional lane departures.
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 is expected to propel the segment growth.
Increasing use of ADAS worldwide is generating considerable revenue, and OEMs are focusing on development of cost-effective solutions that can be used in large numbers. The widespread acceptance of these systems supports the growth of the lane departure warning system market.
On the basis of sensor types, the market is segmented into video sensors, infrared sensors, and laser 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.
Key components of video sensors are remote sensor and processing computer. A remote sensor is a device that uses sensors such as radar, ultrasonic sensors, and cameras to collect real-world data. The host receives data from these cameras, and then the sensors make decisions and send commands to the vehicle subsystem. With the increasing preference for ADAS in vehicles, the demand for cameras has increased significantly in recent years.
In terms of vehicle types, the automotive lane warning systems market is segregated into passenger cars, light weight 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. The car models using ADAS are expanding from luxury cars to mid-range cars. Moreover, the passenger car segment is expected to grow significantly due to increased demand and wider distribution leading to lower costs of complex components.
On the basis of regions, the market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period. The regional market growth is attributed to presence of major automobile manufacturers. Moreover, governments in the region have been focusing on development of safer driving technologies, especially in passenger cars.
For instance, the Government of Canada announced that it will conduct safety inspections on all vehicles and use automated and networked systems so that all new cars are equipped with nine driver safety systems from 2024, while expanding standard or optional equipment functions, such as automatic emergency braking, lane departure doors, reversing cameras or attention detectors.
The market in Europe is expected to exhibit a rapid growth rate in the coming years due to strict government regulations. The countries in Europe are also taking measures to promote vehicle safety. Rising penetration of behemoth car manufacturers and ADAS in vehicles is driving the growth of the market in the region.
Segments
The global automotive lane warning systems market has been segmented on the basis of
Functions
- Lane Departure Warning Systems
- Lane Keeping Systems
Sensor Types
- Infrared Sensors
- Laser Sensors
- Video Sensors
Vehicle Types
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Sales Channels
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the automotive lane warning systems market include Mobileye, Delphi Technologies, Denso Corporation, Robert Bosch GmbH, and Continental AG.
Some of these players are Mobileye, Delphi Technologies, Denso Corporation, Robert Bosch GmbH, and Continental AG several business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market share.
In February 2020, Continental AG announced its expansion in the US by setting up production plant for ADAS and radar sensors.
In July 2019, Denso Corporation announced its joint venture to offer aftermarket products in South Africa and also announced that its two products are incorporated in Lexus LS 2018 Model.
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