Personal safety while driving a car has become of utmost priority, and people are investing heavily just to have an advanced security system installed in their vehicles. This can help the global automotive lane warning system market gain considerable ground with 12.4% CAGR during the forecast period (2017-2023), reveals Market Research Future (MRFR) in a well-documented study. The technology assists drivers keeping their focus steadfastly on the road and minimizes the chance of distraction by signaling the moment it detects any kind of deviation. Rising cases of accidents have raised eyebrows in the past few years, and manufacturers are relentlessly implementing the latest technologies. Furthermore, governments’ initiatives regarding the strict implementation of road safety rules have boosted the automotive lane warning system market.
However, the technology is expensive, and only a few luxury cars can afford the implementation of such a technique which can jeopardize the automotive lane warning system market growth considerably.
Mitsubishi has geared up their cars with e-assist that uses millimeter-wavelength radar and camera to promote better driving experience. This will help the driver to stay on track and avoid collisions.
Mitsubishi in its eK series cars has employed Hitachi Automotive Systems’ advanced driver assistance system electronic control unit (ADAS ECU). This feature has a single controller taking full charge of the adaptive cruise control (ACC) system, the autonomous emergency braking (AEB) system, the lane departure warning system (LDW).
The global automotive lane warning system market can be segmented by functioning, sensor types, vehicle types, and end-market.
Based on functioning, the market is segmented into lane departure warning and lane keeping system.
On the basis of sensor types, the market includes video sensors, laser sensors, and infrared sensors.
On the ground of vehicle types, the market comprises passenger vehicles and commercial vehicles.
End-market segments the market into original equipment manufacturer (OEM) and aftermarket.
Region-specific analysis of the global market encompasses North America, Europe, Asia Pacific (APAC) and Rest-of-the-World (RoW).
Europe, with its ever-growing automotive sector, is dominating the global market. The rise in production and adoption of luxury cars has secured the prospect of the burgeoning market. Along with it, strict government policies regarding road safety has played an integral role in triggering the growth of the market. Germany, the U.K., and France are countries that are leading the regional market.
North America assumes the second position. The reviving automotive sector and a huge population base with disposable income have enabled the region in adopting such luxury cars due to which the market is expanding.
The APAC is the third biggest market. With a number of key market players operating from countries such as South Korea and Japan, the region has already cemented its prospect. Furthermore, emerging economies are also experiencing an increasing demand for this feature in their car.
The market is driven by constant innovations and upgradations which keep the manufacturers on toe all the time. Apart from that, strategic alliances play a very crucial part in growing company portfolio. For instance, the Bosch Group has recently signed a strategic partnership with electric vehicle company NIO for improving sensor and automated driving technology.
Prominent players in the automotive lane warning system market include Robert Bosch (Germany), Denso Corporation (Japan), Continental AG (Germany), Autoliv Inc (Sweden), Delphi (UK), Magna International (Canada), ZF TRW (US), Nissan (Japan), Hitachi Automotive Systems (Japan), Mobileye (Israel), and others.
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