Analysis of Lane Departure Warning System Market applications and companies active in the industry

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Lane Departure Warning System Market applications
and companies active in the industry
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Global Market Scenario of Industry

• Lane Departure Warning System Market size is
  anticipated to grow at a significant rate from
  2017 to 2024. Rising road safety concerns among
  the end users coupled with substantial growth in
  advanced driver assistance system (ADAS) will
  primarily drive the industry growth. These
  systems assist the drivers and help in reduction
  of unintended lane departures. Moreover, they
  help the driver to stay focused and avoid
  accidents. These systems have witnessed a rising
  demand from compact cars owing to high preference
  of customers towards safety rather than vehicle
  cost. Shifting focus towards integration of
  passive and active safety systems will further
  propel the lane departure warning system market
  share over the forecast timeframe.
• Various manufacturers are focusing on
  collaborating with OEMs for development of low
  cost driver assistance systems for compact
  vehicles, resulting in significant reduction in
  price of these systems. This will lead to their
  wide adoption in low cost vehicles over the
  coming years.

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Continue

• Integration of these systems with the vehicles
  increases the overall vehicle cost. This
  excessive cost may hamper the lane departure
  warning system market growth since the customers
  are reluctant to purchase this feature for their
  vehicle. Industry participants are focusing
  towards overcoming these challenges by developing
  cost effective solutions and incorporating
  enhanced components in the system.
• OEMs are increasingly collaborating with
  automotive camera manufacturers and safety
  experts for incorporation of cameras and radars
  in vehicles, resulting in integration of radar
  sensing, data fusion, and video sensing
  technologies into a single module. Furthermore,
  since these systems are increasingly becoming
  common and standardized for majority of the
  vehicles, a fusion of radar and image sensors
  will help in cost reduction over the forecast
  timeframe. For instance, Delphis RACam is a
  combination of vision sensing, radar sensing, and
  data into its single module. These advancements
  in sensors will propel the passenger and vehicle
  safety, offering stable growth prospects to the
  lane departure warning system market till 2024.

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Research Methodology
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Regional Insights

• Europe lane departure warning system market is
  expected to capture highest revenue share owing
  to the stringent government regulations across
  the region regarding the installation of these
  safety features. The augmented demand for
  vehicles equipped with driver assistance systems
  coupled with substantial production of premium
  and luxury vehicles will further support the
  regional dominance.
• North America will also account for a significant
  share in the industry owing to increasing road
  safety concerns. Lane departure warning system
  market from Asia Pacific is anticipated to grow
  rapidly over the next eight years owing to high
  penetration of ADAS in countries including China,
  Japan, and South Korea.

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