The market is projected to grow at a CAGR of 34% and is anticipated to touch the billion-dollar mark by 2022. Europe contributed to a share of XX% in 2016, followed by the North America and Asia-Pacific with XX% and XX% respectively. According to NHTSA data, 37% of transportation accidents are due to running off from the road. In order to bring down the fatality rate, many OEMs and aftermarket manufacturers have focused on developing driver-assisted safety systems for safer drive experience.
Lane Departure Warning System (LDWS) is a technology that specializes in maintaining safety by alerting drivers when the vehicle has strayed from the intended lane. The functionality of LDWS is via a camera and three different sensors – video, laser and Infrared sensors placed at different positions in the vehicle. The camera tracks the lane boundaries and alerts the driver if the vehicle deviates from the prescribed path. A major technological advancement in this field is a smart drive-assisted LDWS that integrates the use of both cameras into one and also trains the driver to tackle dangerous situations.
Increasing demand from the consumers to employ better safety systems and the growing autonomous vehicles market are factors driving the global automotive lane departure warning system market. Market players are now focusing on R&D activities to come up with better and technologically advanced products.
The global automotive lane warning system market is segmented by functioning type (LDWS, LKS), sensors type (video, laser and infrared), sales channel (OEM’s, Aftermarket) and geography (North America, South America, Asia-Pacific, Europe, Africa and the Middle East).
Some of the major market players are:
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