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Lane Departure Warning System Market

Lane Departure Warning System Market

Rising Popularity of Autonomous Vehicles to Propel the Growth of Lane Departure Warning System Market during 2021-2031

Lane Departure Warning System Market
FACT2540MR
  • Aug-2021
  • List of Tables : 113
  • List of Figures : 93
  • 170 Pages
  • Automotive

Market Snapshot

According to Fact.MR- a market research and competitive intelligence provider- 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

Know More Details About the Report

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.

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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.

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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.

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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

Lane Departure Warning Systems Market- Scope of Report

A recent study by Fact.MR on the lane departure warning systems market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering lane departure warning systems market.

The study also provides the dynamics responsible for influencing the future status of the lane departure warning systems market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies operating in the lane departure warning systems market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of lane departure warning systems market across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of lane departure warning systems market during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

  • Which are the most lucrative commercial lane departure warning systems markets?
  • Which factors will impact the growth of commercial lane departure warning systems?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the commercial lane departure warning systems industry?
  • What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).

Estimates at global and regional levels for commercial lane departure warning systems are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.

Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global lane departure warning systems market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the lane departure warning systems market during the forecast period.

Country-specific valuation on demand for lane departure warning systems has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of lane departure warning systems, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering lane departure warning systems has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the domain. 

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the lane departure warning systems industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

- FAQs -

According to Fact.MR, the lane departure warning systems industry is slated to expand at around 14% CAGR through 2031

Between 2016 and 2020, demand for lane departure warning systems surged by a whopping 12% CAGR

Increasing frequencies of road accidents combined with adoption of autonomous vehicles is driving LDW systems adoption

The Asian region is expected to be highly lucrative, expected to grow at a staggering 16.2% CAGR through 2031

The U.S is expected to record a CAGR of 6.26%, anticipated to reach US$ 3.4 Bn

By sensor, video sensor lane departure warning systems will account for more than 40% sales through 2031

Demand for lane departure warning systems for passenger cars is expected to surge the most, recording a 10% CAGR

U.S, Japan, China, India and Germany are the top 5 countries driving demand for lane departure warning systems

Robert Bosch GmbH, Denso Corporation and Continental AG are some prominent players offering advanced lane departure warning systems

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.