Market Size of Asia Pacific Lane Departure Warning Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 15.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Lane Departure Warning Systems Market Analysis
The Asia-Pacific lane departure warning system market is expected to grow at a CAGR of over 15% during the forecasted period (2020 - 2025)
- The consistent increase in the number of vehicular accidents, primarily due to abrupt lane change, has led to concerns among both the consumers and governments across the world. Thus, in the automotive industry, technological advancements have been highly essential to reduce road accidents while enhancing passengers' and drivers' safety. 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).
- The increasing adoption of advanced driver assist systems (ADAS) is expected to propel the LDWS market's growth. 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 are collaborating with technology companies to produce ADAS systems such as Lane Warning Systems. For instance, in August 2020, Mitsubishi Fuso Truck and Bus Corporation (MFTBC) launched an all-electric light-duty truck eCanter with enhanced safety features. The Lane Departure Warning System (LDWS) detects lane deviation through a white line recognition camera. When the vehicle deviates from a lane without a turn signal, the system alerts the driver and displays a warning on the dashboard.
