In the automotive industry, technological innovations are continuously resulting into the addition of new features to the automobiles in order to increase driving safety and reduce road accidents. Rising number of high speed vehicles and the increasing number of highways is likely to drive the demand for safety systems including automotive lane warning system. Lane warning system is typically a structure designed to alert the driver as and when the vehicle departs from the lane. These systems offer visual, audible and vibrational warnings to the driver every time a car gets out of a lane. The automotive lane warning system is designed to evade accidents that take place due to driver error, distractions and drowsiness. The automotive lane warning system assesses the locus of the vehicle through a camera that is set on the windshield. It essentially positions the automobile with respect to a lane. Governments around the world have started implementing lane departure system by making it mandatory.
According to a report published in the World Health Organization in 2016, Around 20-50 million people suffer from non-fatal injuries in road crashes in the world per year, and it has been proved that with the usage of the right safety systems, this number can be successfully brought down. Increasing road accidents along with growing awareness about road safety are likely to drive the growth of the global automotive lane warning system market. Furthermore, increasing demand for automobile and stringent regulatory policies in regard to road safety as well as obligatory use of warning system are anticipated to fuel the demand for automotive lane warning system in the coming years. Nonetheless, integration of lane departure warning system may increase the overall cost of the vehicle. Hence, vehicle manufacturers typically avoid the integration of the lane warning system and this may act as a restraining factor for the growth of the overall market.
The global automotive lane warning system market can be segmented on the basis of product type, sensor type and end use. Based on product type, the global automotive lane warning system market can be segregated into lane departure keeping system and lane warning system with alerts. Lane departure warning system with alerts offers vibration, audible, and visual alerts whereas lane departure keeping system keeps the vehicle in lane in cases where the driver ignores the alerts. The market can be divided on the basis of end user into original equipment manufacturer (OEM) and aftermarket. The OEM segment is likely to constitute the major share of the global automotive lane warning system market.
The global automotive lane warning system market can be segmented into five regions namely North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Europe is likely to account for the maximum share in the global automotive lane warning system market. Stringent regulatory framework, rising demand for automobiles with advanced safety features such as lane warning system, and power-assisted steering are some of the factors that are likely to boost the growth of the market in this region over the forecast period.
The global automotive lane warning system market is categorized by the presence of a large number of well-established players as well as regional vendors. Continuous R&D investments from numerous OEMs and Tier-I players including Bosch, Continental and Delphi to develop advanced lane warning system and improve safety and comfort will encourage the market growth. Some of the key players operating in the global automotive lane warning system market are DENSO EUROPE, Robert Bosch GmbH, Delphi Automotive LLP, Autoliv Inc., Continental AG, Mobileye, WABCO, Magna International Inc., ZF TRW and Bendix Commercial Vehicles Systems LLC.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.