What is Lane Keep Assist System Market Scope?
During long trips on the highway, often the driver's concentration may decrease. Most of the time, many accidents caused by cars that deviate from their lane. In order to solve this problem, the lane keeps assist system is used to keeping a car from drifting out of its lane. An increasing number of road accident across the world and increasing awareness regarding the benefit of lane keep assist system are some of the major factors which affect the growth of the market in the future.
Influencing Trend:
Technology Advancement in Lane assist system
Market Growth Drivers:
Demand for lane keeps assist system has increased, due to the increasing number of road accidents across the world. For instance, as per an article punished by the World Health Organization, if the global vehicle safety standards are not strengthened by 2030, road traffic crashes will be the 7th leading cause of death. Therefore, the increasing number of road accidents will drive the market.
Challenges:
Problem related to Lack of Understanding about the Proper Function of ADAS Technologies
Restraints:
Some of the limitations of lane-keeping assist are Lane-keeping assist systems use a camera to gauge the contrast between lines and the pavement. And when that contrast isn’t clear, the systems don’t work as well.
Opportunities:
Increasing Passenger Vehicle and Commercial Vehicle in China and India
The Lane Keep Assist System market study is being classified, by Application and major geographies with country level break-up.
According to AMA, the Global Lane Keep Assist System market is expected to see growth rate of 11.6% and may see market size of USD5558.4 Million by 2028.The demand for Lane Keep Assist System is increasing with each passing day. The businesses in this industry facing major competition with leading players of the market that includes Robert Bosch GmBH, Ficosa Internacional SA, Gentex Corporation and others. Many international as well as regional providers are also participants in the industry and directly compete with leaders. It has been identified that market leading players are investing heavily in growth strategies such as technological development, resource utilization to enhance their market position. The market leaders demonstrate a market-defining vision of how lane keep assist system can help top-line business executives achieve their business objectives. Leaders have the ability to execute against that vision through both products and services. They have demonstrated solid business results in the form of revenue and earnings. Analysts at AMA predicts that Vendors from Japan will contribute to the maximum growth of Global Lane Keep Assist System market throughout the predicted period.
Robert Bosch GmBH (Germany), Ficosa International SA (Spain), Gentex Corporation (United States), Valeo (France), ZF Friedrichshafen AG (Germany), Preco Electronics Inc. (United States), Denso Corporation (Japan), Hitachi. Ltd. (Japan), Mobileye (Israel) and Delphi Automotive PLC. (Ireland) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Continental AG (Germany) and Velodyne LiDAR Inc. (United States).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Lane Keep Assist System market by Type, Application and Region.
On the basis of geography, the market of Lane Keep Assist System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
Bosch to acquire German mapping company in bid to boost automated driving development. The German company, Atlatec, creates high-resolution 3D maps for vehicles with Level 3 or Level 4 autonomous tech.
In February 2021 ZF Friedrichshafen AG had announced the launch of coASSIST Level2+ sysetm. CoASSIST was created in collaboration with Mobileye and contains Mobileye's EyeQTM camera technology, and ZF's is the full system integrator. Hella short-range radars are used as well. Adaptive cruise control, traffic sign recognition, lane change assist, lane maintaining assist, highway driving assist, and traffic jam support are all possible when using this powerful camera and radar sensor suite in conjunction with a central control unit.
Key Target Audience
Lane Keep Assist System Companies, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
Lane Keep Assist System Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Lane Keep Assist System Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Lane Keep Assist System industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.