Lane Keep Assist System Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

Awareness of current driver assistance systems installed in vehicles has expanded in recent years as a result of safety and security concerns, which is expected to boost the global lane keep assist system and adaptive cruise control market for automotive during the forecast period. The integrated safety systems, on the other hand, are ineffectual in regions or countries where adverse weather conditions such as fog, rain, or snow exist. The high cost of the integrated system has an impact on demand in the medium car class. The entire system is controlled by electronic components, and when these fail, the system interprets data erroneously, rendering it useless. During the forecast period, these modest constraints are expected to limit the market for lane keep assist systems and adaptive cruise control in automobiles.

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The majority of traffic accidents are caused by driver inattention or negligence. Rising awareness among people and governments across the world about the importance of ensuring public safety and security by reducing road accidents, which are mostly caused by driver irresponsibility and distraction, is a major factor that is expected to drive the lane keep assist system market. A rule stated by the US government requires autonomous vehicles or vehicles with lane keep assist systems to be equipped with an easy to trigger auto-drive disengage switch and an alert system for system failures in a few states in the US, such as California and Nevada, as well as the District of Columbia. Despite its many benefits, the lane keep assist system has a few flaws. An electronic processing unit and positioning system control the entire system, which is vulnerable to cyber-attack and hacking. A hacker with access to electronic processing can take entire control of the vehicle's operation, posing a threat to human life. Furthermore, the lane keep assist system's sensors are unable to detect faded lane markers, and the system fails to function effectively in extreme weather situations such as fog, rain, or snow. During the projection period, these small limitations are anticipated to stymie the lane keep assist system market.

According to UnivDatos Market Insights (UMI)’ research report “Lane Keep Assist System Market”, the market is expected to witness a CAGR growth of around ~16% during the forecast period 2021-2027F. Global Lane Keep Assist System Market is experiencing significant growth due to the increasing number of road accidents, worldwide and government safety norms along with the increase in the demand for assistive driving systems among the customers.

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Based on function type, the market is segmented into Lane Keeping System and Lane Departure Warning. The Lane Keeping System segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. In 2020, the lane keep assist system market was dominated by the lane keeping system segment. Lane keeping systems use forward-facing cameras to monitor the lane lines around your car and provide visual, audio, and tactile indications such as seat vibration and steering wheel to alert the driver when an automobile approaches or crosses lane barriers

Based on component, the market is segmented into Vision Sensor/Camera, EPAS Actuator, Electronic Control Unit, and others. The Electronic Control Unit segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. The electronic Control Unit (ECU) component segment is in charge of the lane keep assist system's operations, and so is predicted to provide profitable prospects, increasing the worldwide lane keep assist system market over the forecast period. By accepting input from sensors and turning it into an understandable format, the ECU decreases the system's convolution. As a result, it is predicted to grow significantly by 2027

Based on vehicle type, the market is segmented into Passenger Cars and Commercial Vehicle. The Passenger Cars segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. In 2020, the passenger car sector accounted for the majority of the market. The increasing demand for passenger vehicles internationally, primarily for local and intercity transportation, is largely responsible for the segment's strong market share. In mountainous terrain, driver attention or nervousness in driving handling is likely to cause the car to leave the detected lane, causing serious damage to both the vehicle user and the vehicle. The lane keep assist technology prevents such collisions by gently wringing the steering wheel to keep the vehicle in its lane. The lane keep assist system works to keep the vehicle in the middle of a detected lane, preventing a collision or accident.

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Based on the distribution channel, the market is segmented into OEMs and Aftermarket. The aftermarket segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. Because of the faster rate of adoption and shorter life of electronic components such as sensors and wirings, the aftermarket sales channel sector has a larger share of the lane keep assist system market than the other categories. Due to safety concerns, especially in passenger vehicles, the aftermarket segment is expected to develop at a significant rate during the projection period. Component failure is a primary driver that propels the aftermarket market

Europe to Grab Lion’s Share

During the projection period, the Europe is expected to grow at a higher CAGR. This is owing to growth in safety awareness and an increase in the number of accidents in the region, which has resulted in a high rate of adoption of lane keep assist technology. During the forecast period, this tendency is expected to continue. Due to the presence of major vehicle manufacturers in Europe, the global lane keep assist system is likely to remain an important market. During the projected period, growing advancements in safety features and the availability of raw components are expected to break through the need for lane keep assist systems. Advance driver aid systems are the safety trend, and thanks to European Union policies, demand for active safety systems like lane keep assist is predicted to rise. Automobile manufacturers in this region are putting in extra effort to improve safety by including a lane keep assist system as an optional or standard feature in luxury and luxurious vehicles.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Global Lane Keep Assist System Market include ZF Friedrichshafen AG, Denso Corporation, Continental Ag, Robert Bosch Gmbh, Valeo, Aptiv PLC, Velodyne Lidar, Inc., Hella Gmbh & Co., Delphi Technologies and Bendix Corporation

• In Feb. 2020, Continental Ag announced the construction of a new plant in New Braunfels in the US state of Texas. The purpose of the new building is to expand its capacity for the production of radar sensors. "Advanced driver assistance systems save lives

“Global Lane Keep Assist System Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1. By Function Type (Lane Keeping System and Lane Departure Warning)
2. By Component (Vision Sensor/Camera, EPAS Actuator, Electronic Control Unit, and Others)
3. By Vehicle Type (Passenger Cars and Commercial Vehicle)
4. By Distribution Channel (OEM and Aftermarket)
5. By Region (North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World)
6. By Company (ZF Friedrichshafen AG, Denso Corporation, Continental Ag, Robert Bosch Gmbh, Valeo, Aptiv PLC, Velodyne Lidar, Inc., Hella Gmbh & Co., Delphi Technologies and Bendix Corporation)

Key questions answered in the study:

1. What are the current and future trends of the Global Lane Keep Assist System industry?
2. How the industry has been evolving in terms of end-user demand and product category?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Lane Keep Assist System industry?
5. What is the customer orientation, purchase behavior, and expectations from the Global Lane Keep Assist System suppliers across various countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 LANE KEEP ASSIST SYSTEM MARKET COVID-19 IMPACT

6 LANE KEEP ASSIST SYSTEM MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY FUNCTION TYPE

8 MARKET INSIGHTS BY COMPONENT

9 MARKET INSIGHTS BY VEHICLE TYPE

10 MARKET INSIGHTS BY DISTRIBUTION CHANNEL

11 MARKET INSIGHTS BY REGION

12 LANE KEEP ASSIST SYSTEM MARKET DYNAMICS

13 LANE KEEP ASSIST SYSTEM MARKET OPPORTUNITIES

14 LANE KEEP ASSIST SYSTEM MARKET TRENDS

15 LEGAL & REGULATORY FRAMEWORK

16 DEMAND AND SUPPLY SIDE ANALYSIS

17 VALUE CHAIN ANALYSIS

18 COMPETITIVE SCENARIO

19 COMPANY PROFILED

20 DISCLAIMER

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