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Global Lane Departure Warning System Market to Grow at a CAGR of 15.41% During 2020-2025, Fostered by Increasing Number of Road Accidents

As per the latest report by IMARC Group, titled “Lane Departure Warning System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global lane departure warning system market size reached US$ 8.4 Billion in 2019. A lane departure warning system is designed for alerting the driver when the vehicle moves out of its lane. It automatically steers the car back and helps drivers stay focused, avoid accidents and minimize unintended lane departures. It works on the in-vehicle electronic mechanism and offers visual, vibrational and audible warnings to the driver when the vehicle goes out of the lane. It evaluates the position of the vehicle using a camera fixed on the windshield and keeps the automobile with respect to the road lane.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Lane Departure Warning System Market Trends:

According to the World Health Organization (WHO), around 1.35 million people die every year, mostly between the ages of 5 and 29 years, on account of road accidents. To minimize these incidents, International organizations, along with the support of various governments, are focusing on generating awareness among individuals about road safety. Consequently, the leading players in the automotive industry are integrating road safety systems, such as lane departure warning systems, in passenger and commercial vehicles. Apart from this, the increasing number of fast-moving vehicles and the development of highways and expressways, especially in emerging economies, is driving the need for lane departure warning systems. Furthermore, factors like the integration of advanced systems, such as radar sensing, data fusion and video sensing technologies in a single module, are anticipated to propel the market growth. On account of these factors, the market is anticipated to expand at a CAGR of 15.41% during the forecast period (2020-2025).

Market Summary:

  • Based on the function type, the market has been bifurcated into lane departure warning and lane-keeping systems.
  • On the basis of the sensor type, the market has been segmented into video, laser and infrared sensors.
  • The market has been analyzed on the basis of the distribution channel into the original equipment manufacturer (OEM) and aftermarket.
  • Based on the vehicle type, the market has been segregated into passenger cars and light and heavy commercial vehicles.
  • Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); Middle East and Africa.   
  • The competitive landscape of the market has been examined, with some of the key players being Autoliv Inc., Continental AG, Delphi Technologies Plc (BorgWarner), DENSO Corporation, Hitachi, Ltd., Iteris, Inc., Magna International Inc., Mobileye (Intel Corporation), Robert Bosch GmbH, Volkswagen AG and ZF Friedrichshafen AG.

 

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