Rising Demand for Luxury Cars to Drive Automotive Lane Warning System Market through 2024
Booming automotive industry and rising demand for additional
safety and security features in vehicles to drive global automotive lane
warning system market through 2024
According
to TechSci Research report, “Global Automotive Lane Warning System Market By Function Type, By
Sales Channel, By Vehicle Type, By Sensor Type, By Region, Competition,
Forecast & Opportunities, 2024”,
global automotive lane warning system market is expected to witness significant
growth on account of increasing demand for automobiles, growing cases of road
accidents and rising awareness pertaining to road safety. Moreover,
technological advancements, such as ADAS, lane keeping system, etc., along with
stringent government regulations with respect to safety of passengers are further
boosting global automotive lane warning system market. Additionally, with
rising demand for luxury cars, the demand for lane warning systems is also
likely to increase, thereby fueling growth in global automotive lane warning system.
Global automotive lane warning system market can be segmented based on
vehicle type, function type, sales channel and sensor type. Passenger car
segment dominates global automotive lane warning system market as on account of
their high sales and production. Moreover, due to increasing demand for lane
warning system, automakers have started implementing this technology in
passenger cars and commercial vehicles. Based on the function type, the market
can be bifurcated into lane departure warning and lane keeping system. Lane
keeping system warns the driver and if no action is taken, then the system
automatically takes the necessary step to keep the vehicle in lane. Lane
keeping system is expected to grow at sluggish rate due to its high cost and
availability only in luxury vehicles. Based on the sales channel, the market
can be segmented into OEM and aftermarket. OEM is predicted to acquire the
major share in global automotive lane warning system market as OEMs are
focusing on passenger safety and adoption of active safety systems to avoid
accidents.
Continental AG, Robert Bosch GmbH, Delphi Automotive LLP, Magna
International Inc., Denso Corp., Autoliv Inc., Bendix Commercial Vehicles
Systems LLC, ZF TRW, NVIDIA Corporation, Mobileye, among others are the leading
players operating in global automotive lane warning system market. Companies
operating in the market are using organic strategies such as product launches,
and mergers and collaborations in order to register positive growth in the
market. In
2017, Valeo launched its new LiDAR sensors to ensure optimal and continuous
operations in all weather conditions.
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“Europe dominates global automotive lane warning system market on
account of high sales of luxury vehicles in countries such as Germany, UK and
France. Moreover, safety regulations imposed by the EU and presence of improved
road infrastructure in the countries of the region is further positively
influencing the growth of automotive lane warning system market in the region.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global Automotive
Lane Warning System Market By Function Type, By Sales Channel, By Vehicle
Type, By Sensor Type, By Region, Competition, Forecast & Opportunities,
2024” has
evaluated the future growth potential of global automotive lane warning system market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decision. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global automotive lane warning system market.
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