|Fastest Growing Market:||North America|
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The automotive lane warning system market was valued at USD 5.94 Billion in 2021 and is estimated to reach USD 14.79 billion by 2027 end, registering a CAGR of over 16.6% during the forecast period 2022-2027.
During COVID-19, the supply chain of automotive lane warning systems was muted, attributed to rising virus infection and strict lockdown measures taken by governments of all the nations. In addition, during the same period, a chip shortage was seen, which caused a major setback in the production of lane warning systems.
The increasing number of road accidents worldwide has led governments and international organizations to enact various stringent safety norms, thereby leading automotive manufacturers to equip vehicles with technologies such as Automotive Lane Warning System (ALWS). A lane departure warning system can avoid nearly 7% of all fatal accidents.
Stringent government norms and regulations regarding passenger safety have driven the market growth for the lane departure warning system. In Europe, Regulation (EC) 661/2009 deals with installing lane departure warning systems 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 collaborated with technology companies to produce ADAS systems, such as lane warning systems. For instance, Nvidia provides artificial intelligence services for autonomous vehicles and augmented reality, software, and hardware support in the form of DRIVE AP2X, Nvidia DRIVE, and Nvidia DRIVE AGX.
Moreover, after Q2 2021, the government's supply chain and procurement ease has resulted in the market's regaining growth. With ongoing research and development in better and more advanced lane warning system offerings, the market is expected to witness a major boost in the forecast period.
Scope of the report
The lane warning system is a sensor fitted near the vehicle's windshield. This sensor accesses the locus of the vehicles and keeps the vehicle in the lane. Governments across the globe are trying to implement this technology under their automotive safety initiatives.
Automotive Lane Warning System Market is segmented by Function Type, Sales Channel, Sensor Type, Vehicle Type, And Geography.
By Function Type, the market is segmented into Lane Departure Warning systems and Lane-Keeping systems.
By Sensor Type, the market is segmented into Video Sensors, Laser Sensors, and Infrared Sensors,
By Sales Channel, the market is segmented into OEM and Aftermarket,
By Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles,
and based on Geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World
|Lane Departure Warning System|
|Lane Keeping System|
|Light Commercial Vehicles|
|Heavy Commercial Vehicles|
Key Market Trends
Increasing Demand for Lane Departure Warning System
Lane departure warning systems are a group of safety technologies designed primarily to prevent high-speed accidents on highways, expressways, and freeways. They warn the driver and sometimes take corrective measures to prevent collisions and run-off-road accidents.
The consistent increase in vehicular accidents, primarily due to abrupt lane changes, has led to concerns among consumers and governments worldwide. Thus, in the automotive industry, technological advancements have been highly essential to reducing road accidents while enhancing the safety of passengers and drivers.
Furthermore, rising consumer safety concerns have been propelling the need to implement advanced driver assistant systems (ADAS). Today, autonomous cars and connected vehicles are gaining consumers’ interest and are anticipated to gain wider acceptance over the forecast period. The advanced driver assistance systems (ADAS) featured are expected to diminish the penetration gap between classic cars and tomorrow’s cars. Moreover, With the rising technological advancements in the automotive industry, end-users are ready to spend more on the latest technologies, which enhance the driving experience and increase the safety of drivers and riders.
ADAS features such as collision warning, lane assistance, blind spot detection, etc., significantly impact consumer behavior and are expected to enhance vehicles' performance by reducing vehicle downtime by alerting the owner of any faults in the vehicle. 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 the road. Since November 2015, all new commercial vehicles, which weigh more than 3.5 metric tons, and buses, which weigh more than five metric tons, must be equipped with a lane departure warning system. About 38.9% of all accidents involving trucks are primarily caused by unintentionally leaving the lane. Such incidents can be prevented by the usage of lane departure warning systems.
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North America is the leading market for Automotive Lane Warning System
North America is one of the pivot pillars of the automotive sector. The United States, the lone bedrock of the North American automotive hub, contributes at least 3% to the country's overall gross domestic product (GDP). In addition, the Country is one of the largest manufacturers in the luxury car market, with net revenue of USD 5 billion in 2021. Luxury car maker BMW 2021 reported record-breaking sales of over 336,600 vehicles.
Most motor vehicle collisions are primarily due to human errors. 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 governments have focused on developing and promoting safe driving technologies, especially passenger vehicles. Furthermore, the government and automakers are making a good balance to keep safety their foremost priority. 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.
- In May 2022, GM announced its constructive partnership with INRIX Inc. to provide safety solutions data directly to the U.S. Department of Transportation through its analytics-assisted cloud-based application under its Safety View by GM Future Roads & Inrix initiative.
- In May 2022, Toyotamotors announced that it would use computer-based vision technology sourced from Austin, Texas-based start-up company Invisible AI in its North American assembly plants. This technology shall be able to process body motion data to enhance quality, safety, and efficiency.
Due to the factors above, the demand for vehicle safety solutions is likely to increase. This is expected to propel the growth of the studied market over the forecast period.
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The automotive lane warning system market is dominated by several players, such as Continental AG, Delphi Technologies, Mobileye, Robert Bosch GmbH, Hitachi Ltd, ZF Friedrichshafen AG, DENSO Corporation, and Magna International Inc.
The companies are engaging in partnerships and acquisitions to develop new products and expand within the market. For instance,
- In July 2021, Magna International Inc. acquired Veoneer to strengthen their advanced driver assistance system (ADAS), including stereo vision sensor and lane warning system, business by Veoneer technology offerings, customer base, and geographic footprint on a global scale.
- In September 2021, Continental and Horizon Robotics signed a Joint Venture (JV) contract, focusing on providing hardware and software integrated solutions for Advanced Driver Assistance Systems and automated driving. They also signed the investment contract with Shanghai Jiading Industrial Zone that the new JV will be located in Jiading District Shanghai.
Robert Bosch GmbH
- In January 2022, Bosch announced that it had 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 would 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).
- In April 2021, Denso Corporation developed an advanced driver assistance technology featured in Lexus LS and Toyota Mirai. The system is equipped with LiDAR sensors and an advance driver system electronic control system (ADS ECS) to detect the shape and identify the distance of objects.
Table of Contents
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
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size in Value USD Billion)
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
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 Rest of Asia-Pacific
5.5.4 South America
22.214.171.124 Rest of South America
5.5.5 Middle-East and Africa
126.96.36.199 United Arab Emirates
188.8.131.52 Saudi Arabia
184.108.40.206 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
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
Frequently Asked Questions
What is the study period of this market?
The Automotive Lane Warning Systems Market market is studied from 2018 - 2027.
What is the growth rate of Automotive Lane Warning Systems Market?
The Automotive Lane Warning Systems Market is growing at a CAGR of 16.6% over the next 5 years.
What is Automotive Lane Warning Systems Market size in 2018?
The Automotive Lane Warning Systems Market is valued at 5 Billion USD in 2018.
What is Automotive Lane Warning Systems Market size in 2027?
The Automotive Lane Warning Systems Market is valued at 14 Billion USD in 2027.
Which region has highest growth rate in Automotive Lane Warning Systems Market?
North America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Automotive Lane Warning Systems Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in Automotive Lane Warning Systems Market?
Continental AG, Delphi Technologies, Mobileye, DENSO Corporation, Robert Bosch GmbH are the major companies operating in Automotive Lane Warning Systems Market.