Automotive Lane Departure Warning System Market: Introduction
- Rise in disposable income of the middle class population in emerging economies, such as India and China, coupled with customer’s willingness to opt for expensive luxury cars and SUV vehicles is expected to propel the lane departure warning system market
- The lane departure warning system can inform the driver once he accidentally leaves the lane and can use one-sided braking interference to help the vehicle to return to its lane. It also provides a safety feature that would help monitor the vehicle in case of wrecked lane patterns if there is a threat of a crash. The lane departure warning system is also known as active lane keep assist system.
Key Drivers of Automotive Lane Departure Warning System Market
- Rise in number of road accidents, globally, is expected to increase the demand for the automotive lane departure warning system, thereby driving the market. According to WHO the number of road accidents across the globe is increasing. Moreover, as per WHO road accident statistics, the number of fatalities in Southeast Asia, Africa, and Eastern Mediterranean has been increasing for the last decade. Therefore, governments across several regions are enacting stringent emission regulations pertaining to vehicle occupant safety. This, in turn, is expected to offer lucrative opportunity for the lane departure warning system market, globally.
- Rise in adoption of advanced driver assistant system (ADAS) in vehicles to enhance occupant safety is likely to propel the automotive lane departure warning system market globally. Rising demand for active safety features in vehicles, such as blind spot detection, ABS, ESP, intelligent park assist, and regenerative braking, are prompting manufacturers to integrate these technologies in their vehicles. For instance, according to safety regulations mandated by the European Commission for vehicle, features which either come as a standard or as a part of optional packages, such as automatic emergency braking, lane departure warning, reversing cameras or detectors, and attention monitors are to be installed in new cars from 2024. This enhanced usage of technology in vehicles is likely to offer lucrative opportunity for automakers to increase adoption of lane departure warning system. This, in turn, is driving the automotive lane departure warning system market, globally.
- However, the cost of vehicle increases owing to the integration of automotive lane departure warning system. Therefore, automakers are exacted to offer the automotive lane departure warning system as an extra option, which in turn restrains the demand of automotive lane departure warning system.
- The coronavirus pandemic outbreak resulted in a more than 20% decline in vehicle production globally in 2020, as compared to that of in 2019, thereby hampering the market in 2020. However, an increase in the demand for personal vehicles and reduction of vehicle prices by automakers to boost vehicle sales are projected to help the market recover and expand during the forecast period.
Global Automotive Lane Departure Warning System Market: Restraint
- The ECU and positioning unit in lane departure warning system controls the entire system, which are prone to cyber-attacks and hacking threats that can lead to the failure of the lane departure warning system and consequently threaten vehicle occupant life
- The lane departure aid system sensors cannot sense faded lane markings and hence, it does not function properly in severe climate such as fog, snow, rain, etc. This, in turn, is estimated to restrain the lane departure warning system market during the forecast period.
- However, these drawbacks are expected to overcome by manufacturers of the system and improve the functionality of the automotive lane departure warning system
Europe accounted for prominent share of global automotive lane departure warning system market
- In terms of region, the global automotive lane departure warning system market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
- Europe is a prominent consumer and manufacturer of luxury and premium passenger vehicles, and the lane departure warning system is mostly equipped in the luxury segment of vehicles. Therefore, the region dominated and accounted for a major share of global automotive lane departure warning system market.
- Currently, very few players manufacture the lane departure warning system, as it is still in the research and development stage. These players have their research and technology centers based in Europe. Startups across Europe are focusing more on the development of vehicle technology that improves the performance of vehicles and provide additional safety systems. This, in turn, offers lucrative opportunity for players engaged in the automotive lane departure warning system market in Europe.
Key Players Operating in Automotive Lane Departure Warning System Market
The global automotive lane departure warning system market is concentrated owing to the presence of top manufacturers. A few key players operating in the global automotive lane departure warning system market are:
- Continental AG
- Delphi Automotive PLC
- Denso Corporation
- IMV Corporation
- NXP Semiconductor
- Robert Bosch GmbH
- ZF Friedrichshafen AG
Global Automotive Lane Departure Warning System Market: Research Scope
Global Automotive Lane Departure Warning System Market, by Vehicle Type
- Passenger Vehicle
- Luxury/ Premium
- Commercial Vehicles
- Light Commercial Vehicles
- Medium and Heavy Commercial Vehicle
Global Automotive Lane Departure Warning System Market, by Sales Channel
Global Automotive Lane Departure Warning System Market, by Sensor Type
- Video Sensors
- Laser Sensors
- Infrared Sensors
Global Automotive Lane Departure Warning System Market, by Region
- North America
- Nordic Countries
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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