Automotive Lane Warning System Market size is 6.93 billion USD in 2022 and is projected to reach a CAGR of 16.7% from 2023-2030.
A lane warning system is a device that warns the driver when the vehicle starts to deviate from the lane. This technology aims to reduce accidents by eliminating the three main causes of accidents, driving errors, distraction, and fatigue. The system warns the driver if no action is taken.
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The prominent players in Automotive Lane Warning System Market are
· Continental AG
· Delphi Automotive PLC
· Denso Corporation
· IMV Corporation
· NXP Semiconductor
· Robert Bosch GmbH
· Valeo
· ZF Friedrichshafen AG and More
The automotive lane warning system market is benefiting from the rise in concerns about car safety. Also, upon experiencing high demand, several manufacturers have implemented this technology into both, passenger and commercial vehicles. Moreover, the increasing number of accidents, and growing awareness about road safety, are driving the demand for an automotive lane warning system in the global market. Furthermore, the government regulatory policies regarding road safety, are also expected to boost the demand.
Automotive Lane Warning System Market is segmented into various segments such as functions, sensor types, vehicle types, sales channel, and regions:
On the basis of functions
· Lane Departure Warning Systems
· Lane Keeping Systems.
On the basis of sensor types
· Infrared Sensors
· Laser Sensors
· Video Sensors
On the basis of vehicle types
· Passenger Vehicles
· Light Commercial Vehicles
· Heavy Commercial Vehicles.
On the basis of the sales channel
· OEMs
· Aftermarket
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There is a rise in the safety concern of automobiles in recent years. People are becoming more and more cautious when it comes to their safety. The need for safety features and for autonomous and semi-autonomous driving technologies are expected to develop the automotive lane warning system market. However, there is a high chance that software issues related to sensor failures, high initial costs, and complicated structures may restrain the market's expansion. Additionally, tight guidelines for safety features and an increase in the desire for comfort while driving will be opening up prospects for market expansion in the future.
Regional Analysis
North America to Dominate the Market
North America is anticipated to dominate the market during the forecast period. The regional market growth is attributed to the presence of major automobile manufacturers. Moreover, governments in the region have been focusing on the development of safer driving technologies, especially in passenger cars.
Recent Developments
In January 2022, Bosch announced that it has supplied its Lane departure warning system (LDWS) to BYD's Qin Pro DM 2022 China version.
In April 2021, ZF revealed that its most advanced autonomous emergency braking assistance technology will be mass-produced in China. From this year, two big Chinese truck manufacturers will deploy OnGuardMAX in new truck models. OnGuardMAX also has other safety features including LDW (Lane Departure Warning) and ACC (Adaptive Cruise Control).
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