The "Automotive Lane Warning System Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global automotive lane warning system market is expected to exhibit a growth rate of 16.85% during the forecast period, 2020-2025.
The increasing number of road accidents, worldwide, has led to the governments and international organizations enacting various stringent safety norms, thereby, leading to automotive manufacturers to equip vehicles with technologies, such as Automotive Lane Warning System (ALWS). Lane departure warning system can avoid nearly 7% of all fatal accidents.
Stringent government norms and regulations regarding passenger safety have been driving the market growth for the lane departure warning system. In Europe, Regulation (EC) 661/2009 deals with the installation of lane departure warning system in commercial vehicles.
The income in the emerging economies, such as India and China, has been increasing, and the customers have been opting for expensive vehicles in luxury cars and SUV segments. This factor has been propelling the market growth for the automotive lane warning system.
Vehicle OEMs have been collaborating with technology companies to produce ADAS systems, such as lane warning systems. For instance, Nvidia provides artificial intelligence services for autonomous vehicles and provides augmented reality, software, and hardware support in form of DRIVE AP2X, Nvidia DRIVE, and Nvidia DRIVE AGX.
Key Market Trends
Increasing Demand for Lane Departure Warning System
Lane departure warning systems are a group of safety technologies, which have been designed primarily to prevent high-speed accidents on highways, expressways, and freeways.
- They warn the driver, and sometimes, take corrective measures, in order to prevent collisions and run-off-road accidents.
The consistent increase in the number of vehicular accidents, primarily due to abrupt lane change, has been leading to concerns among, both the consumers and governments, across the world.
- Thus, in the automotive industry, technological advancements have been highly essential in order to reduce road accidents, while enhancing the safety of passengers and drivers.
Furthermore, rising safety concerns among the consumers have been propelling the need to implement advanced driver assistant systems (ADAS). This, in turn, has been driving the demand for lane departure warning systems (LDWS).
Accidents involving commercial vehicles often result in serious consequences for the driver and other commuters on road.
Since November 2015, all new commercial vehicles, which weigh more than 3.5 metric ton, and buses, which weigh more than five metric ton, are required to be equipped with a lane departure warning system.
- About 38.9% of all the accidents that involve trucks are primary caused by unintentionally leaving the lane. Such incidents can be prevented by the usage of lane departure warning systems.
North America and Europe are the leading market in Automotive Lane Warning System
Most of the motor vehicle collisions are primarily due to human errors. For instance, in Virginia, in 2016 and 2017, the leading causes of traffic accidents were alcohol, speeding, and distracted driving. According to the US Department of Transportation's National Highway Traffic Safety Administration (NHTSA) organization, almost one-third of the traffic-related fatalities in Virginia (220 crashes) specifically involved alcohol-impaired driving.
In recent years, government, industry, and other interest groups have responded to these statistics, by encouraging and promoting the development of safe driving technologies, primarily to reduce the number of traffic-related collisions and fatalities.
Automotive manufacturers and the governments have been focusing on developing and promoting safe driving technologies, especially in passenger vehicles. Furthermore, most of those technologies are likely to become standard. For instance,
- The Canadian government announced the safe testing of every vehicle and deployment of automated and connected vehicles, while spreading awareness regarding driver assistance technologies.
- The European Commission declared the nine driver safety systems as mandatory for all the new cars from 2024. The list includes features that either come as a standard or as a part of optional packages, like automatic emergency braking, lane departure warning, reversing cameras or detectors, and attention monitors.
Due to the aforementioned factors, the demand for safety solutions in a vehicle is likely to witness an increase. This is expected to propel the growth of the studied market over the forecast period.
The automotive lane warning system market is dominated by several players, such as Continental AG, Delphi Technologies, Mobileye, Robert Bosch GmbH, Hitachi Ltd, Nissan, ZF Friedrichshafen AG, DENSO Corporation, and Magna International Inc.
- During June 2019, Toyota Motor Corporation announced that the Lexus Safety Systems will be a standard feature in all the US Lexus vehicles, starting with the 2020 model year.
- DENSO Corporation in July 2019 announced that they have established a joint venture to offer aftermarket products and services in South Africa. This region has one of the largest economies in Africa, and car ownership is the highest in the region. Also, Denso Corporation had announced two new products incorporated in the new 2018 Lexus LS. A new stereo vision sensor and lane warning system may help to improve safety performance of vehicles by more precisely detecting obstacles and lane lines on roads.
- Continental AG has been building a new plant for advanced driver-assistance systems (ADAS), in the United States. The purpose of the new building is to expand its capacity to produce radar sensors. Advanced driver assistance systems save lives. Continental is one of the world's market leaders.
Key Topics Covered
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Function Type
5.1.1 Lane Departure Warning System
5.1.2 Lane Keeping System
5.2 Sensor Type
5.2.1 Video Sensors
5.2.2 Laser Sensors
5.2.3 Infrared Sensors
5.3 Sales Channel
5.4 Vehicle Type
5.4.1 Passenger Cars
5.4.2 Light Commercial Vehicles
5.4.3 Heavy Commercial Vehicles
5.5.1 North America
5.5.4 South America
5.5.5 Middle-East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Continental AG
6.2.2 Delphi Technologies
6.2.4 DENSO Corporation
6.2.5 Robert Bosch GmbH
6.2.6 The Bendix Corporation
6.2.7 Hitachi Ltd.
6.2.8 Iteris Inc.
6.2.9 Nissan Motor Co. Ltd.
6.2.10 Volkswagen AG
6.2.11 ZF TRW
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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