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Lane Departure Warning System Market By Product Type (Lane Departure Alert System, Lane Keeping System (LKS)) By Sensor (Video Sensor Lane Departure Warning System, Laser Sensor LDW System, Infrared Sensor LDW System) By End Use Application (PCV LDW System, LCV Lane Departure Warning System, HCV LDW System) By Sales Channel (LDW Systems for OEMs, Lane Departure Warning Systems for Aftermarkets) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2028

About this report

The Global Lane Departure Warning System Market report explores the critical analysis of the Lane Departure Warning System industry using key parameters. The report consists of investment strategies, the need for investments in the Lane Departure Warning System industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the Lane Departure Warning System industry, as well as how economic and non-economic barriers are helping the Lane Departure Warning System market. Moreover, the report analyses the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

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Key Highlights of the report

How are the major segments performing in the Lane Departure Warning System Market?

  • In 2021, the lane departure alert system will be the leading segment as it offers vibration, sound, and visual alerts.
  • In 2021, the video sensor lane departure warning system segment will lead the market. This is primarily caused by the wide range of functions that automotive cameras and visual sensors can perform. For example, they can detect lane edges, enable driver-assist features like emergency braking and lane departure warning, and react to oncoming cars, cyclists, and pedestrians to make driving safer.
  • In 2021, the HCV Lane Departure Warning System segment will lead the market due to the growing need for driving safety.
  • In 2021, the lane departure warning systems for the OEMs segment will lead the market. The considerable cash generation may be due to the widespread deployment of ADAS. OEMs are concentrating their efforts on developing inexpensive, broadly applicable solutions.

Which region dominated the Lane Departure Warning System Market?

In 2021, North America was one of the major contributors to the global Lane Departure Warning System market due to the stringent laws governing vehicle safety. The region is anticipated to see an increase in demand for automobiles with power-assisted steering, driver aid systems, and lane departure warning systems, increasing the need for lane departure warning systems.

What is the competitive environment of the Lane Departure Warning System Market?

Sales of LDW will continue to be driven by the growth of the automobile industry, with increasing efforts to encourage the adoption of cutting-edge technology and the creation of structural safety features over the projected period. Automakers have teamed up with tech firms to create ADAS systems, such as lane warning systems. Manufacturers will probably concentrate on strategic partnerships, new launches, and acquisitions. For instance, in the form of DRIVE AP2X, Nvidia DRIVE, and Nvidia DRIVE AGX, Nvidia offers artificial intelligence services for autonomous vehicles and augmented reality, software, and hardware support. Similarly, a key element in the installation of new driver assistance features for increased safety in heavy goods traffic is Bosch's most recent third-generation multi-purpose camera.

Executive Summary

How has the rise in traffic accidents affected market expansion?

A lane departure warning system (LDWS) is an in-vehicle electronic device that tracks a car's location within a driving lane and notifies the driver of any deviation. The device scans the area around the vehicle for road markings and keeps track of its location within the lane using video cameras and algorithms. It alerts the driver by giving a visual, audio, or tactile signal, such as sensations in the steering wheel, in the event of any unintended departure. This makes it possible for the driver to quickly counter-steer, reducing the likelihood of collisions. Globally increasing traffic accidents are predicted to raise demand for car lane departure warning systems, propelling the industry. The WHO reports that there are more accidents on the roads worldwide.

Additionally, according to WHO figures on traffic accidents, the number of fatalities in Southeast Asia, Africa, and the Eastern Mediterranean has risen over the past ten years. To ensure the safety of car occupants, governments in many regions are passing strict emission laws. The market is benefited greatly from this. The market expansion for lane departure warning systems has been fuelled by stringent government standards and passenger safety regulations.

Which are the key investments by the players in the Lane Departure Warning System Industry Market?

Due to the dominance of leading manufacturers, the worldwide vehicle lane departure warning system market is highly competitive. Leading manufacturers are investing in R&D to lower the cost of the lane departure warning system since the global market for lane departure warning systems has tremendous growth potential. The government enacted strict safety laws in response to the rising number of traffic accidents, fueling the expansion of the LDWS market. By 2025, the government and automakers will invest over USD 50.7 billion in the sector, according to a Korea Times estimate from 2019. The South Korean government intends to finish building the transportation, communications, and road infrastructure required for fully autonomous driving by 2024.

Some major players in the lane departure warning system market are Robert Bosch GmbH, Denso Corporation, Continental AG, Delphi Automotive LLP, ZF TRW, Autoliv Inc., Mobileye, Magna International Inc., WABCO and Bendix Commercial Vehicles System LLC.

What are the Major Driving Factors for the Lane Departure Warning System Market?

One of the primary factors fostering a favorable outlook for the market is the automobile industry's rapid growth and rising use of automated technologies. Additionally, the rise in traffic deaths caused by careless drivers accelerates market expansion. LDWS is usually deployed in passenger automobiles and other commercial vehicles to protect passengers and pedestrians. Other growth-inducing variables include introducing advanced driver assistance systems (ADAS) and raising public awareness of the importance of traffic safety. These technologies help drivers maintain concentration, reduce unintentional lane departures, and prevent accidents by automatically guiding the cars back to the proper lane. Integrating cutting-edge systems like video sensing, data fusion, and radar sensing into a single module is one of the additional variables anticipated to fuel market growth.

What are the Major Risks for the Lane Departure Warning System Market?

The complexity of the system and its high cost are the two main issues preventing the vehicle safety business from growing. Furthermore, tight compliance requirements by government authorities are delaying the rollout of new technologies into the market.

Which is the Key Sales Channel in the Lane Departure Warning System Market?

In 2021, the Lane Departure Warning Systems for OEMs segment dominated the market. The widespread adoption of ADAS may be attributed to the significant income generation. OEMs are focusing on creating affordable solutions that can be widely used. These systems would be widely accepted due to rising awareness of passenger and traffic safety and stricter rules, which would encourage OEMs' expansion of the lane departure warning system market. The aftermarket is anticipated to grow dramatically because it is more affordable than the substitute.

How is the Lane Departure Warning System Market performing in regions?

In 2021, the global Lane Departure Warning System market was dominated by Europe due to strict standards governing the safety of vehicles. The region's need for lane departure warning systems is also anticipated to rise in response to the rising demand for cars with power-assisted steering, driver aid systems, and lane departure warning systems. The demand for automobiles with driver assistance systems, such as LDWS, PAS, and BSD, is also expected to increase considerably, which will likely drive up the price of LDWS in Europe. The demand for vehicles with features like lane departure warning systems, driver assistance systems, and power-assisted steering is predicted to increase.

Besides, the North American region is expected to grow significantly over the forecast period. Governments and other regulatory organizations in the area are making specific efforts to reduce traffic-related accidents and fatalities by developing and promoting safe driving technologies. For instance, the USDOT (U.S. Department of Transportation) has developed the Automated Vehicles Comprehensive Plan to prioritize car safety and encourage more innovation in transportation technology. These advancements may speed up the projected expansion of the regional lane departure system sector.

What is the regulatory landscape for the Lane Departure Warning System Market?

The lane departure warning system market growth between 2022 and 2028 will be significantly influenced by the rising traffic incidents and the ensuing increase in vehicle safety rules imposed by governments worldwide. The installation of emergency lane-keeping systems (ELKS) on all new N1 and M1 category vehicles, including passenger cars, pick-up trucks, and vans, starting on July 6, 2022, was mandated by a new EU regulation that was announced in May 2021. Regulations like these have compelled major automakers to install cutting-edge safety features in their newest models of vehicles, which may boost lane departure warning system market dynamics over time.

What is the Market Size of the Lane Departure Warning System regarding value?

The Lane Departure Warning System Market is anticipated to grow at a substantial CAGR of 13.50% in the upcoming years. The Global Lane Departure Warning System industry was estimated to be worth USD 8394.2 million in 2021 and was expected to be worth USD 17945.46 million by 2028.

What are the major players planning for the future of the Lane Departure Warning System Market?

Numerous businesses are implementing various methods, such as alliances and new product launches, to meet the changing demand for vehicle safety and bolster their positions in the global market. Commercial trucks and luxury and premium cars are still looking for lane departure warning systems. OEMs are predicted to make the most money in the market for lane departure systems. The global market for driver monitoring systems is expected to benefit from several technical developments in the years to come.

Frequently asked questions about the global Lane Departure Warning System Industry

The global Lane Departure Warning System market is expected to be impacted significantly by COVID-19.

Europe accounted for the highest share in the global Lane Departure Warning System market in terms of value.

One of the primary factors fostering a favorable outlook for the market is the automobile industry's rapid growth and rising use of automated technologies. Additionally, the rise in traffic deaths caused by careless drivers accelerates market expansion.

The lane departure alert system segment had a significant share in 2021, with more than 60% of the market revenue share.

Video sensor lane departure warning system segment had a significant share in 2021, with more than 40% of the market revenue share.

Lane Departure Warning System Market Scope

Report Attribute Details
Market Value in 2021 USD 8394.2 Mn
Market Value in 2028 USD 17945.46 Mn
CAGR 13.50%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
Choose License Type
Budget Buying
Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Sep 2022
Category:  Automotive & Transportation
Report ID:   60629
Report Format:   PDF
Pages:   190
Rating:    4.8 (75)
Delivery Time: 24 Hours to 48 Hours   
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