The global automotive lane keep assist system market size is expected to reach around US$ 7 Bn by 2026 and is anticipated to grow at a CAGR of around 16% in terms of revenue during the forecasting period 2019 to 2026.
Automotive lane keep assist system is active safety systems which detect lane markings on the road with cameras or sensors and help the driver keep the vehicle in the lane. This is achieved either by giving a warning through a buzzer, or by vibrating the seat, or by giving a similar signal, or turning the vehicle automatically as it departs. When a vehicle leaves its path, due to curving roads and driving complexities, the risk of freak accidents in hilly terrain or steep terrain is quite normal. That is likely to cause severe damage to both the driving person and the vehicle. It can be accomplished by incorporating lane keep assist feature into the car.
The report provides analysis of global automotive lane keep assist system market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Rising safety alertness among vehicle owners is anticipated to fuel the growth of the automotive lane keep assist system industry amid the forecast timeframe. Automotive lane keep assist systems are designed to reduce the number of injuries by mitigating the effects of exhaustion, inattention or incompetence of drivers. Rising demand for passenger safety, increasing government focus on reducing road accidents, and increasing consumer preference for vehicles equipped with advanced safety systems such as lane keep assistance are projected to boost market demand over the forecast period.
Europe posted the largest market share, followed by North America and Asia Pacific in 2018. Sales of luxury vehicles have grown in Europe, which has increased demand for the automotive lane warning system. Besides, growing awareness of road safety and strict government controls has accelerated the development of the sector. Germany, the United Kingdom and France are Europe's leading countries which have fueled market growth. Growing technology on safety features and the supply of raw components are anticipated to drive market amid the forecast period. As automotive safety is the prime concern in Europe, the European Union have good policies for automotive industry which are projected to boost demand for automotive lane keep assist system. Automotive manufacturers in this area are making efforts due to the implementation of protection by offering lane keep assist device as an optional or standard in premium and luxury cars.
The market research study on “Automotive Lane Keep Assist System Market (By Component - Actuator, Vision Sensor/Camera, EPAS Electronic Control Unit; Sales Channel: Aftermarket, OEMs; End Use: Commercial Vehicle, Passenger Cars) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed insights on the global automotive lane keep assist system market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides a competitive landscape to understand the current stance of particular player. The report provides insights on global automotive lane keep assist system market, its product, vehicle peripheral connectivity, and major geographic regions. The report covers global automotive lane keep assist system market size, and segment markets by product, vehicle peripheral connectivity, and geography along with the information on companies operating in the market. The automotive lane keep assist system market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global automotive lane keep assist system market is segmented as below:
Automotive Lane Keep Assist System Market By Component
Automotive Lane Keep Assist System Market By Sales Channel
Automotive Lane Keep Assist System Market By End Use
Automotive Lane Keep Assist System Market By Geography
Middle East & Africa
Key Players and Market Situation
Top companies operating in the global market are Delphi Automotive PLC., Denso Corporation, Continental AG, Valeo, and ZF Friedrichshafen AG, Robert Bosch GmbH, and others. Global automotive lane keep assist system market offers high growth opportunities and leading manufacturers are investing in research and development to reduce the cost of lane departure warning.
In 2019, Toyota announced to launched RAV4, with a number of safety features, such as a forward collision alarm system with pedestrian detection and automatic emergency braking, a full-speed dynamic radar cruise control, high beams for automatic detection. steering aid for lane departure alerts, and lane maintenance assistance.
Automotive lane keep assist system is active safety systems which detect lane markings on the road with cameras or sensors and help the driver keep the vehicle in the lane.
The market value of automotive lane keep assist system is anticipated to be around US$ 7 Bn in 2026.
It is anticipated to grow over 16% CAGR amid the forecast period.
Europe held maximum share in 2018 led by the Germany.
Asia Pacific is projected to grow at a fast pace during forecast period.
The growth of the automotive lane keep assist system industry is driven by rising safety awareness among people
Factor such as high cost may restrain the market growth