Lane Departure Warning System Market

Lane Departure Warning System Market Outlook

The lane departure warning system market is anticipated to expand at a CAGR surpassing 14% through 2031. As per the report, lane departure warning systems for OEMs are expected to gain maximum traction, expanding at a staggering 15% CAGR.

Key Points Covered in Lane Departure Warning System Industry Survey

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Lane Departure Warning Systems and How to Navigate
• Recommendation on Key Winning Strategies

Lane Departure Warning Systems Historical Trends 2016-2020 Vs Future Forecast 2021-2031

From 2016-2020, the market for lane departure warning systems grew at a rapid pace, clocking a CAGR of around 12%. Increasing presence of autonomous vehicles is attributed as the major growth accelerator.

Luxury and premium vehicles, as well as commercial vehicles, continue to seek lane departure warning systems. In the lane departure system market, OEMs is anticipated to generate the most income.

Several technological advancements in the global driver monitoring system market are projected to enhance the industry in forthcoming years. According to the report, the market is expected to grow at a staggering 14% CAGR from 2021-2031.

Will Surging Vehicle Ownership Bode Well for Lane Departure Warning Systems?

In recent years, the automotive industry has expanded manifold, as rapid urbanization rates compel individuals to purchase automobiles. Countries such as India and China are at the forefront of the global automotive industry. More recently, popularity of autonomous vehicles has surged, generating high demand for LDW systems to ensure safety and security of passengers.

The passenger automobile segment accounts for a sizable portion of the lane departure warning system industry. Likewise, increased need for automotive safety systems in the commercial vehicle segment, light, and heavy commercial vehicles are also developing at a substantial rate.

Will Surging Vehicle Ownership Bode Well for Lane Departure Warning Systems?

In recent years, the automotive industry has expanded manifold, as rapid urbanization rates compel individuals to purchase automobiles. Countries such as India and China are at the forefront of the global automotive industry. More recently, popularity of autonomous vehicles has surged, generating high demand for LDW systems to ensure safety and security of passengers.

The passenger automobile segment accounts for a sizable portion of the lane departure warning system industry. Likewise, increased need for automotive safety systems in the commercial vehicle segment, light, and heavy commercial vehicles are also developing at a substantial rate.

Key Challenges Associated with Lane Departure Warning Systems Adoption

A relatively sluggish outlook experienced in the past 2 years across the automotive industry has posed significant expansion challenges to the market.

Sales further contracted amid a massive slowdown in automotive manufacturing operations amidst the COVID-19 pandemic. As companies resume operations and adapt to the new normal as they recover from the COVID-19 impact, recovery prospects appears significantly positive.

Also, the expensive cost of the system and its complexity are two major problems limiting expansion in the automotive safety industry. Furthermore, stringent compliance requirements by government authorities is delaying launch of new systems into the market.

Country-wise Analysis

What Supports Increasing Lane Departure Warning Systems Sales in Asia?

The market for driver fatigue monitoring is expected to be dominated by the Asian region, experiencing a stellar 16.2% CAGR. Rapid expansion of automotive sectors amid increasing sales of autonomous vehicles across countries such as India, China and Japan are driving expansion.

Growing public knowledge of safety solutions such as driver fatigue and distraction monitoring systems are likely to lead to a significant increase in demand for these systems in the short-term as well as long-term forecast period.

What Supports Increasing Lane Departure Warning Systems Deployment in the U.S.?

During the forecast period, the U.S lane departure warning systems industry is expected to increase at a CAGR of 6.26%, reaching a market size of US$ 3.4 Bn.

Technical improvements like GM's eye-tracking technology and Mercedes-Attention Benz's Assist have increased demand for these devices. These innovations have improved the safety of drivers and passengers in passenger cars, resulting in fewer fatalities.

Category-wise insights

Why are Video Sensor Lane Departure Warning Systems Gaining Ground?

Camera sensors and their capacity to work with a variety of focal lengths. Cameras have the advantage over all other types of vehicle sensors in that they function at a very high resolution and the image processing can effectively analyze and differentiate between things.

For instance, the VBOX testing system captures the data that automobile and sensor manufacturers need to verify the effectiveness of their lane departure warning or lane keeping assist system with real-time measurement and positioning precision to within one centimeter. A revenue share exceeding 40% is projected for the video sensor segment.

How is the Aftermarket Generating Sales Prospects for LDW Systems?

According to a new IIHS study, an aftermarket collision warning system combined with a telematics device that offers feedback on driving can encourage safer driving practices, giving older model car drivers a safety boost to combat attention and fatigue.

Although the market for aftermarket blind-spot monitoring kits is miniscule, it is growing as more startups and major automobile accessory companies offer custom-designed kits for a variety of vehicles.

Competitive Landscape     

Manufacturers in the lane departure warning systems market are likely to focus on strategic acquisitions, collaborations, and product launches in the following decade.

1. For instance, Bosch's latest third-generation multi-purpose camera is a vital component in the installation of new driver assistance features for improved safety in heavy goods traffic.
2. Likewise, the latest backbone of Mobileye's self-driving system is a camera-centric arrangement. It can determine the important safety portions by building a powerful system that can drive exclusively on cameras.

Report Scope

Attribute	Details
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered	North America Latin America Europe East Asia South Asia Oceania Middle East & Africa
Key Countries Covered	U.S Canada Brazil Mexico Germany U.K France Spain Italy Russia China India Japan Australia GCC South Africa
Key Market Segments Covered	Product Type Sensor End Use Application Sales Channel Region
Key Companies Profiled	Robert Bosch GmbH Denso Corporation Continental AG Delphi Automotive LLP ZF TRW Autoliv Inc. Mobileye Magna International Inc. WABCO Bendix Commercial Vehicles System LLC
Pricing	Available upon Request

Key Segments Covered

• Product Type

  • Lane Departure Alert System
  • Lane Keeping System (LKS)

• Sensor

  • Video Sensor Lane Departure Warning System
  • Laser Sensor Lane Departure Warning System
  • Infrared Sensor Lane Departure Warning System

• End Use Application

  • PCV Lane Departure Warning System
  • LCV Lane Departure Warning System
  • HCV Lane Departure Warning System

• Sales Channel

  • Lane Departure Warning Systems for OEMs
  • Lane Departure Warning Systems for Aftermarkets