The Lane Keep Assist System Market is estimated to be valued at US$ 4.7 Bn in 2023 and is expected to exhibit a CAGR of 14.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Lane Keep Assist System (LKAS) is an advanced driver-assistance system designed to help drivers increase safety by reducing unintentional lane departures and/or road edge excursions. LKAS monitors roadway position of the vehicle and applies gentle steering corrections to help keep the vehicle in its lane. Some advanced systems even provide steering corrections to actively guide the vehicle back into its lane. Most modern LKAS also incorporate lane departure warning technology to alert inattentive drivers when the vehicles drifts from its intended lane.
Market Dynamics:
Rising concerns towards vehicular and road safety are expected to be a major growth driver for the lane keep assist system market. According to the World Health Organization, approximately 1.35 million people die each year as a result of road traffic crashes. Growing acceptance of advanced driver assistance technologies amongst consumers willing to pay extra for enhanced safety features will also propel the market growth over the forecast period. Stringent regulations mandating incorporation of assist technologies in new vehicles is another factor fueling adoption. For instance, the European Union has made installation of lane departure warning and lane keep assist systems mandatory for new vehicles from 2022. Higher deployment in commercial vehicles like trucks and buses due to liability of human lives will further provide opportunities in the near future.
Segment Analysis
The Lane Keep Assist System Market Growtht is dominated by the active system subsegment. Active lane keep assist systems employ automated steering corrections to position or center the vehicle within its travel lane. The system actively controls steering to keep the vehicle centered in its lane. Active lane keep systems provide greater driver assistance and safety by actively steering the vehicle, unlike passive systems which only provide warnings, making active systems more popular and driving the higher market share of this subsegment.
PEST Analysis
Political: Stringent safety regulations worldwide regarding driver assistance features mandate the inclusion of lane keep assist technology in new vehicles, driving adoption. Economic: Increasing disposable incomes allow more customers to opt for higher-end vehicles with advanced driver assistance systems. Social: Younger generations expect the latest technologies in connected and autonomous vehicles, raising demand for advanced features like lane keep assist. Technological: Advancements in cameras, sensors, connectivity and automated driving continue to enhance lane keep assist system capabilities.
Key Takeaways
The global lane keep assist system market is expected to witness high growth, exhibiting CAGR of 14% over the forecast period, due to increasing connected vehicle penetration. Asia Pacific is the fastest growing regional market for lane keep assist systems due to strong sales of premium vehicles in major countries like China and India. Key players operating in the lane keep assist system market are Robert Bosch, Denso Corporation, Continental AG, Valeo, ZF Friedrichshafen, Hyundai Mobis, Delphi Automotive, Magna International, Valeo, and Hella.
The global lane keep assist system market size for 2023 is projected to reach US$ 4.7 billion with Asia Pacific emerging as the largest regional market. Rapid adoption of advanced driver assistance systems and rising vehicle production across major Asian economies is driving the region's market share.
Key players operating in the lane keep assist system market are focusing on capabilities like driver monitoring, advanced mapping, and vehicle-to-everything communication to develop next-gen solutions enabling true automated driving experiences. For instance, Robert Bosch has demonstrated a system that alerts distracted drivers and takes corrective steering action based on real-time traffic data received via vehicle-to-infrastructure communication.
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Lane keep assist system market is a technological application of the combination of cameras, sensors, and autonomous assistance applied in vehicles so that the vehicles move in a particular lane.
These systems either inform the driver of the vehicle when the vehicle is drifting from a particular lane, and it is unsafe to do so or there is a risk of collision.
These systems can also be used to automatically drift the steering wheel so that the vehicle comes back into the lane.lane keep assist system market is expected to register a healthy CAGR of 18.35% in the forecast period of 2019-2026.
The report contains data from the base year of 2018 and the historic year of 2017.
This rise in market value can be attributed to the significant adoption of ADAS and a rise of autonomous vehicles prevalent in the market.Get a Sample Copy of Global lane keep assist system market Report to Understand the Complete Insights @https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-lane-keep-assist-system-marketMarket Drivers and Restraints:Rising levels of initiatives and support policies provided by governments to reduce the number of road accidents globally is expected to drive the growth of the marketIncreasing concerns and awareness regarding the safety of individuals along with the vehicles is expected to drive the growth of the marketPrevalence of the preference of consumers to purchase vehicles equipped with advanced systems and technologies; this factor is expected to drive the growth of the marketRestrictions of the sensors and cameras in detecting land markings that are clearly visible; this factor is expected to restrain the growth of the marketInability of these systems to operate in certain environmental conditions is also expected to restrain the growth of the marketThe major players covered in the Lane Keep Assist System Market Few of the major competitors currently working in the global lane keep assist system market are ZF Friedrichshafen AG; DENSO CORPORATION; Gentex Corporation; Robert Bosch GmbH; Valeo; Ficosa Internacional SA; Aptiv; Continental AG; Mobileye; Hitachi, Ltd.; Velodyne Lidar, Inc.; PRECO Electronics; AISIN SEIKI Co., Ltd.; Calsonic Kansei Corporation; WABCO; Autoliv Inc.; HYUNDAI MOBIS; Magna International Inc.; Panasonic Corporation; Visteon Corporation; Knorr-Bremse AG; Iteris, Inc. and HELLA GmbH & Co. KGaA.Major TOC Of The ReportChapter One: Lane Keep Assist System Market OverviewChapter Two: Manufacturers ProfilesChapter Three: Global Lane Keep Assist System Market Competition, by PlayersChapter Four: Global Lane Keep Assist System Market Size by RegionsChapter Five: North America Lane Keep Assist System Market Revenue by CountriesChapter Six: Europe Lane Keep Assist System Market Revenue by CountriesChapter Seven: Asia-Pacific Lane Keep Assist System Market Revenue by CountriesChapter Eight: South America Lane Keep Assist System Market Revenue by CountriesNew Business Strategies, Challenges & Policies are mentioned in Table of Content, Request Detailed TOC at @https://www.databridgemarketresearch.com/toc/?dbmr=global-lane-keep-assist-system-marketKey Report HighlightsComprehensive pricing analysis based on different product types and regional segmentsMarket size data in terms of revenue and sales volumeDeep insights about regulatory and investment scenarios of the global Lane Keep Assist System Market Analysis of market effect factors and their impact on the forecast and outlook of the global Lane Keep Assist System Market The detailed assessment of the vendor landscape and leading companies to help understand the level of competition in the global Lane Keep Assist System Market A roadmap of growth opportunities available in the global Lane Keep Assist System Market with the identification of key factorsThe exhaustive analysis of various trends of the global Lane Keep Assist System Market to help identify market developmentsInsightful Details Available @https://www.databridgemarketresearch.com/reports/global-lane-keep-assist-system-marketKey Questions Answered in Report:What is the key to the Lane Keep Assist System Market?What will the Lane Keep Assist System Market Demand and what will be Growth?What are the latest opportunities for Lane Keep Assist System Market in the future?What are the strengths of the key players?About Us:Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.
We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the marketContact:Data Bridge Market ResearchTel: +1-888-387-2818Email: [email protected] Related Reports@Industrial Radiography Equipment MarketGPS Chips MarketHorticulture Lighting Market
Lane Keep Assist System Market is a technological application of the combination of cameras, sensors, and autonomous assistance applied in vehicles so that the vehicles move in a particular lane.
These systems can also be used to automatically drift the steering wheel so that the vehicle comes back into the lane.Global lane keep assist system market is expected to register a healthy CAGR of 18.35% in the forecast period of 2019-2026.
The report contains data from the base year of 2018 and the historic year of 2017.
Get Sample Report at : https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-lane-keep-assist-system-marketCompetitive Analysis: Global Lane Keep Assist System MarketFew of the major competitors currently working in the global lane keep assist system market are ZF Friedrichshafen AG; DENSO CORPORATION; Gentex Corporation; Robert Bosch GmbH; Valeo; Ficosa Internacional SA; Aptiv; Continental AG; Mobileye; Hitachi, Ltd.; Velodyne Lidar, Inc.; PRECO Electronics; AISIN SEIKI Co., Ltd.; Calsonic Kansei Corporation; WABCO; Autoliv Inc.; HYUNDAI MOBIS; Magna International Inc.; Panasonic Corporation; Visteon Corporation; Knorr-Bremse AG; Iteris, Inc. and HELLA GmbH & Co. KGaA.
Key Pointers Covered in the Global Lane Keep Assist System Market Trends and Forecast to 2026Global Lane Keep Assist System Market New Sales VolumesGlobal Lane Keep Assist System Market Replacement Sales VolumesGlobal Lane Keep Assist System Market Installed BaseGlobal Lane Keep Assist System Market By BrandsGlobal Lane Keep Assist System Market SizeGlobal Lane Keep Assist System Market Procedure VolumesGlobal Lane Keep Assist System Market Product Price AnalysisGlobal Lane Keep Assist System Market Healthcare OutcomesGlobal Lane Keep Assist System Market Cost of Care AnalysisGlobal Lane Keep Assist System Market Regulatory Framework and ChangesGlobal Lane Keep Assist System Market Prices and Reimbursement AnalysisGlobal Lane Keep Assist System Market Shares in Different RegionsRecent Developments for Global Lane Keep Assist System Market CompetitorsGlobal Lane Keep Assist System Market Upcoming ApplicationsGlobal Lane Keep Assist System Market Innovators StudyGet Detailed TOC:https://www.databridgemarketresearch.com/toc/?dbmr=global-lane-keep-assist-system-market Key Developments in the Market:In September 2018, Bendix announced the upgradation of their “BlindSpotter Side Object Detection System” providing enhanced levels of safety in vehicles providing combined components and ADAS solutions from a single supplier.
Integrated with the vehicle’s CAN provides wider coverage area even on highways ensuring reliability on these systems.In September 2017, WABCO announced the launch of “OnLaneASSIST” Advanced Driver Assistance System at NACV for heavy, and medium sized commercial vehicles.
