Rising Demand for Luxury Cars to Drive Automotive Lane Warning System Market through 2024

Booming automotive industry and rising demand for additional safety and security features in vehicles to drive global automotive lane warning system market through 2024

According to TechSci Research report, “Global Automotive Lane Warning System Market By Function Type, By Sales Channel, By Vehicle Type, By Sensor Type, By Region, Competition, Forecast & Opportunities, 2024”, global automotive lane warning system market is expected to witness significant growth on account of increasing demand for automobiles, growing cases of road accidents and rising awareness pertaining to road safety. Moreover, technological advancements, such as ADAS, lane keeping system, etc., along with stringent government regulations with respect to safety of passengers are further boosting global automotive lane warning system market. Additionally, with rising demand for luxury cars, the demand for lane warning systems is also likely to increase, thereby fueling growth in  global automotive lane warning system.

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Global automotive lane warning system market can be segmented based on vehicle type, function type, sales channel and sensor type. Passenger car segment dominates global automotive lane warning system market as on account of their high sales and production. Moreover, due to increasing demand for lane warning system, automakers have started implementing this technology in passenger cars and commercial vehicles. Based on the function type, the market can be bifurcated into lane departure warning and lane keeping system. Lane keeping system warns the driver and if no action is taken, then the system automatically takes the necessary step to keep the vehicle in lane. Lane keeping system is expected to grow at sluggish rate due to its high cost and availability only in luxury vehicles. Based on the sales channel, the market can be segmented into OEM and aftermarket. OEM is predicted to acquire the major share in global automotive lane warning system market as OEMs are focusing on passenger safety and adoption of active safety systems to avoid accidents.

Continental AG, Robert Bosch GmbH, Delphi Automotive LLP, Magna International Inc., Denso Corp., Autoliv Inc., Bendix Commercial Vehicles Systems LLC, ZF TRW, NVIDIA Corporation, Mobileye, among others are the leading players operating in global automotive lane warning system market. Companies operating in the market are using organic strategies such as product launches, and mergers and collaborations in order to register positive growth in the market. In 2017, Valeo launched its new LiDAR sensors to ensure optimal and continuous operations in all weather conditions.

“Europe dominates global automotive lane warning system market on account of high sales of luxury vehicles in countries such as Germany, UK and France. Moreover, safety regulations imposed by the EU and presence of improved road infrastructure in the countries of the region is further positively influencing the growth of automotive lane warning system market in the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Automotive Lane Warning System Market By Function Type, By Sales Channel, By Vehicle Type, By Sensor Type, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global automotive lane warning system market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global automotive lane warning system market.

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