Technological innovations in automobile industry is continuously resulting into adding new features to the automobiles to reduce road accidents and increase driving safety. Increasing number of fast moving vehicles on the road and development of highways and expressways is driving the need for safety systems such as lane departure warning system.
Lane departure warning system is a system designed to alert driver when the vehicle moves out of lane. Lane departure warning system provides visual, vibrational and audible warnings to the driver whenever vehicle moves out of lane.
This system is designed to avoid accidents due to driver error, drowsiness and distractions. The lane departure system evaluates the position of the vehicle with the help of a camera fixed on the windshield and position the vehicle with respect to road lane.
Governments in many regions have started taking actions to make the lane departure system mandatory due to advantage associated with the system. Increasing road accidents and growing awareness over road safety among consumers is expected to drive the demand for lane departure warning systems, thus driving the growth of market.
Global lane departure warning system market is expected to register high growth over the forecast period.
Global Lane Departure Warning System Market: Market Dynamics
Increasing road traffic and number of road accidents is expected to increase the demand for lane departure warning system. Moreover, growing awareness among consumer about road safety is expected to fuel the demand for global lane departure warning system.
Other factors, such as increasing demand for automobile and associated regulatory policies regarding road safety and mandatory use of warning system in the vehicles is also anticipated to drive the growth of lane departure warning system market. However, integrating lane departure warning system with vehicle increases overall cost of the vehicle.
Therefore, vehicle manufacturers avoid to integrate the lane departure warning system and offer it as an additional feature which in turn is expected to restrain the demand for lane departure warning system.
Global Lane Departure Warning System Market: Segmentation
Global lane departure warning system market can be segmented on the basis of product type, by sales channel, by sensor type and by end use application. On the basis of product type, global lane departure warning system market can be segmented as lane departure warning system with alerts and lane departure keeping system.
Lane departure warning system with alerts provides visual, audible, and vibration alerts while lane departure keeping system automatically keeps the vehicle in lane if driver does not take any action after the alerts. The global lane departure warning system market can be segmented on the basis of sales channel as original equipment manufacturer (OEM) and aftermarket.
OEM is anticipated contribute major share in the global lane departure market during the forecast period.
On the basis of sensor type, the global lane departure market can be segmented as video sensors, laser sensor and infrared sensor.
On the basis of end use application the global lane departure warning system market can be segmented as passenger vehicles, heavy commercial vehicles and light commercial vehicles.
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Global Lane Departure Warning System Market: Regional Outlook
Global lane departure warning system market can be divided into seven major regions including North America, Eastern Europe, Asia Pacific, Japan, Latin America, Western Europe and Middle East and Africa. Europe is expected to contribute a major share to the global demand for lane departure warning system owing to stringent regulations governing the vehicle safety.
Also, increasing demand for automobiles with features such as lane departure warning system, driver assistance system, and power-assisted steering are expected to fuel the demand for lane departure warning system in the region. North America is expected to account for the second largest market share of the global lane departure warning system market which is expected to be driven by increasing awareness about road safety in the region.
Global Lane Departure Warning System Market: Key Players
Global lane departure warning system market offers high growth opportunities and leading manufactures are investing research and development to reduce the cost of the lane departure warning system. Some of the key players identified in the global lane departure warning system market includes Robert Bosch GmbH, DENSO EUROPE, Delphi Automotive LLP, Continental AG, Autoliv Inc., Mobileye., Magna International Inc., WABCO, Bendix Commercial Vehicles Systems LLC, ZF TRW and others.
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