Automotive Lane Warning System Market - Trends Forecast Till 2030

Market Snapshot

Market Overview

The global Automotive Lane Warning System Market size is 6.93 billion USD in 2022 and is projected to reach a CAGR of 16.7% from 2023-2030.

A lane warning system is a device that warns the driver when the vehicle starts to deviate from the lane. This technology aims to reduce accidents by eliminating the three main causes of accidents, driving errors, distraction, and fatigue. The system warns the driver if no action is taken. Moreover, the system notifies the driver and automatically takes action to keep the vehicle in the lane. Whenever the driver detects distractions and errors, the system provides the driver with visual, sound, and vibration warnings to avoid such situations.

The automotive lane warning system market is benefiting from the rise in concerns about car safety. Also, upon experiencing high demand, several manufacturers have implemented this technology into both, passenger and commercial vehicles. Moreover, the increasing number of accidents, and growing awareness about road safety, are driving the demand for an automotive lane warning system in the global market. Furthermore, the government regulatory policies regarding road safety, are also expected to boost the demand.

On the other hand, the higher cost of technology, and availability of the system in luxury vehicles alone, are expected to hinder market growth.

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 nations. In addition, during the same period, a chip shortage was seen which caused a major setback in the production of lane warning systems.

Delvens Industry Expert's Standpoint

There is a rise in the safety concern of automobiles in recent years. People are becoming more and more cautious when it comes to their safety. The need for safety features and for autonomous and semi-autonomous driving technologies are expected to develop the automotive lane warning system market. However, there is a high chance that software issues related to sensor failures, high initial costs, and complicated structures may restrain the market's expansion. Additionally, tight guidelines for safety features and an increase in the desire for comfort while driving will be opening up prospects for market expansion in the future.

Market Portfolio

Key Findings

• The functions segment is further segmented into Lane Departure Warning Systems and Lane Keeping Systems. The lane departure warning systems segment is expected to account for a key share of the market during the forecast period, these systems provide a set of safety technologies that mainly prevent high-speed accidents on roads, highways, and expressways. Growing consumer safety issues have created a demand for advanced driver assistance systems (ADAS). This, in turn, has promoted the requirement for a lane departure warning system (LDWS).
   
• Based on sales channels, the automotive lane warning systems market is bifurcated into OEMs and aftermarket. The OEMs segment is expected to account for a key share of the market during the forecast period due to the integration of a large number of vehicles with lane departure warning systems. Moreover, the rapid adoption rate and continuous update of the system by OEMs are expected to propel segment growth.

• The sensor type segment is further fragmented into Infrared Sensors, Laser Sensors, and Video Sensors. The video sensors segment is expected to account for a significant market share during the forecast period as remote-sensing camera systems are gradually becoming an integral part of active vehicle safety systems. Sensor cameras provide a higher level of performance than general-purpose driving cameras while meeting automotive quality standards with a cost-effective solution.
   
• In terms of vehicle types, the automotive lane warning systems market is segregated into passenger cars, lightweight commercial vehicles, and heavy-weight commercial vehicles. The passenger cars segment is expected to grow at a robust rate during the forecast period In the automotive sector, the growing demand for passenger vehicles with higher safety, comfort, and driving efficiency has driven the growth of the passenger cars segment.

Regional Analysis

North America to Dominate the Market

• North America is anticipated to dominate the market during the forecast period. The regional market growth is attributed to the presence of major automobile manufacturers. Moreover, governments in the region have been focusing on the development of safer driving technologies, especially in passenger cars.

Competitive Landscape

• Continental AG
• Delphi Automotive PLC
• Denso Corporation
• IMV Corporation
• NXP Semiconductor
• Robert Bosch GmbH
• Valeo
• ZF Friedrichshafen AG

Recent Developments

• In January 2022, Bosch announced that it has 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 will 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).

Reasons to Acquire

• Increase your understanding of the market for identifying the best and most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
   
• Gain authentic and granular data access for Automotive Lane Warning System Market so as to understand the trends and the factors involved in changing market situations
   
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
   
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope