Lane Keep Assist System Market Size, Share & Growth [2031]

Report Description

The global lane keep assist system market size was USD 7.15 Bn in 2022 and is likely to reach USD 40 Bn by 2031, expanding at a CAGR of 19.5 % during 2023–2031. The market growth is attributed to the ­­rising awareness about road safety and the enactment and enforcement of laws to reduce fatalities caused by road accidents.

Drivers tend to deviate from the lane for multiple reasons including distraction, incapacitation, drowsiness, and fatigue. The lane-keep assist systems are designed to help the drivers maintain the course of direction in the designated lane with the help of autonomous assistance, sensors, and cameras.

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Automobile manufacturers are integrating various safety features to provide an enhanced user experience to consumers. Safety-critical applications such as automotive lane warning systems, emergency braking, adaptive cruise control, and collision avoidance systems help consumers reduce driver error and improve road safety. For example, BMW ConnectedDrive suite of BMW technologies has dynamic radar and front cameras that monitor traffic patterns, road conditions, and lane markings to enhance safety. When the system is active, it provides steering assistance to help drivers stay in the lane.

Lane keep assist systems comprises a forward-facing camera fitted into the rear-view mirror to monitor the lane markers. When the cameras and sensors monitor the painted lane markings, it sends digital signals to the instrument panel instructing the panel to alert the driver through a beep alert. If the driver fails to respond to the alerts, the systems wait for the corrective response from the driver for a specified time, before they activate the assist function and steers the car gently back to the center of the road.

The COVID-19 pandemic hampered the market due to a decline in car sales during the pandemic. Car sales were hampered during the pandemic period due to factory closures and economic slowdown.

Lane Keep Assist System Market Dynamics

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Drivers

Rising awareness about vehicle safety and stringent government regulations are anticipated to drive the market. Policymakers emphasize reducing fatality rates caused by road accidents. Safety evaluation organizations advise regulatory bodies to make it mandatory for vehicle owners to install safety enhancement systems in vehicles, such as active lane-keeping assist technology and emergency braking.

Restraints

Inadequate charging infrastructure and the inability of the lane-keep assist systems to function in volatile situations are likely to hinder the market. In an operational scenario, if the painted lane markings are covered in mud and snow or fade, thereby misguiding the lane keep assist systems to recognize the lane markings and failing to engage the system.

Opportunities

Enactment and enforcement of laws related to enhancing vehicle safety are likely to create significant opportunities for the market. The lane-keep assist systems monitor the driver’s behavior and execute countermeasures thereby reducing the fatality rates. Emergency lane-keeping systems (ELKSs) provide enhanced protection in terms of improved control over the vehicle. 

Scope of the Lane Keep Assist System Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Based on component, the lane keep assist system market is divided into vision sensor/camera, EPAS actuator, electronic control unit, and others. The electronic control unit segment is expected to expand at a significant pace during the projection period owing to the ability of automotive electronic control units to manage the interconnected functions of the vehicle safety systems. The electronic control unit monitors the surrounding area and processes the data for further actions.

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On the basis of function type, the global market is bifurcated into lane departure warning and lane keeping system. The lane keeping system segment is projected to register a considerable CAGR during the forecast period due to enhanced safety features to protect the driver in adverse situations. Lane-keeping systems alert the driver in case of lane deviations. If the driver fails to respond to the alerts the systems wait for the corrective response from the driver for a specified time, it activates the assist function and steers the car gently back to the center of the road.

Based on distribution channel, the lane keep assist system market is divided into aftermarket and original equipment manufacturer. The aftermarket segment is expected to expand at a rapid pace during the forecast period owing to the rising adoption of lane-keep assist systems in passenger vehicles to comply with government regulations. Stringent government regulation mandates the integration of safety systems in vehicles.

In terms of region, the global lane keep assist system market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe is expected to dominate the market during the projection period owing to the rising consumer awareness about vehicle safety and supportive government policies. Global leaders in the automotive sector and innovative technologies incorporated in vehicles boosts the market in the region.

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