Over the forecast period of 2022-2032, the lane departure warning (LDW) market is expected to grow at a CAGR of 9.7%, reaching US$ 12.9 Billion by 2032.
All vehicles have sensors, and despite being well-equipped with mirrors, they have poor visibility, resulting in road accidents. As a result, all heavy-duty manufacturers are required to install LDW, This is expected to augment sales in the market.
Automobile manufacturers are subjected to stringent passenger safety regulations imposed by various government bodies around the world. Expansion of the automotive sector, rising initiatives to promote the adoption of advanced technologies, and the development of structured safety features will continue pushing sales of LDW over the forecast period.
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Further, rising demand for premium and luxurious features in vehicles in emerging economies will create opportunities for growth in the market. Besides this, government initiatives mandating the use of LDW systems in heavy commercial vehicles in the transportation sector will drive the market in the forthcoming years.
“Increasing production and sales of luxury vehicles across the globe, along with rising adoption of ADAS in economy vehicles is expected to fuel the growth in the market in the forthcoming years,” says and FMI analyst.
Key Takeaways:
- By technology type, sales in the ultrasonic sensors segment will account for 41.5% of the total market share in 2022.
- In terms of sales channel, the OEM segment will expand at a considerable pace through 2032.
- Total sales in the U.S. lane departure warning market will surpass a valuation of US$ 0.2 Bn in 2022.
- The China lane departure warning market will offer an absolute dollar opportunity of US$ 0.7 Bn over the forecast period.
- Germany will dominate the Europe lane departure market, accounting for 25.1% of the Europe market share in 2022.
Competitive Landscape
Texas Instruments Incorporated, Intel Corporation, NVIDIA Corporation, Continental AG, Magna International, Mobileye are some of the leading players operating in the global LDW market.
Manufacturers /developers of LDW systems are focusing on the development of novel technologies to improve the performance and function of LDW systems in various vehicles.
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Key Market Segments Covered
Technology
- Ultrasonic Sensor
- Lidar Sensor
- Radar Sensor
- Camera Sensor
- Infrared Sensor
- Pressure Sensor
Sales Channel
- OEM
- Aftermarket
Vehicle Type
- Passenger Vehicle
- Heavy Commercial Vehicle
- Light Commercial Vehicle
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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