Lane departure warning system is an active, advanced sophisticated driver assist system, which detects the road lane marking by means of advanced cameras and sensors and warns the driver of the vehicle about the lane marking in order to prevent the vehicle from veering away from the middle of the road. The lane departure warning system is an emerging technology of the advance driver assist system, which is considered as the safety pillar of vehicles. The system warns and alerts the driver when the vehicle steers away from the lane, by providing either a warning through a buzzer or noise, or through seat vibration, or other such similar indication. The lane departure warning system reduces the possibility of road accidents, which are common in hilly terrain owing to winding roads.
Surge in demand for vehicles integrated with advance driver assistance systems is a major factor that is likely to propel the lane departure warning system market during the forecast period. Modern vehicles deployed with lane departure warning systems include BMW 7-series, Toyota Camry, Mercedes E-class, Maserati Ghibli, Jaguar XF, and Honda Civic. Increase in number of road fatalities due to driver error and negligence can be avoided through the integration of the lane departure warning system, which curtails the security concerns considerably and enhances vehicle safety by alerting the driver of the vehicle in case of vehicle departing the lane.
These benefits are also projected to boost the demand for lane departure warning system during the forecast period. However, rising awareness about the lane keep assist system, which automatically steers the vehicle back to the road center, coupled with its non-ability to read the faded lane marking is likely to hamper the market during the forecast period.
The global lane departure warning system market can be segmented based on component, vehicle type, sales channel, and region. In terms of the component, the lane departure warning system market can be divided into four segments. The sensors segment leads the lane departure warning system market primarily due to the advancements in the capability of sensors coupled with higher number of sensors employed owing to their function of providing inputs to the electronic control unit. Sensors are vital components that are responsible for the actions performed by the lane departure warning system.
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Based on vehicle type, the lane departure warning system market can be segregated into passenger vehicle and commercial vehicle. The passenger vehicle segment holds for a noteworthy market share owing to the increasing demand for safety while driving. Furthermore, the passenger vehicle segment is projected to expand significantly during the forecast period due to the decrease in cost of sophisticated components, owing to increasing demand and rising adoption.
In terms of sales channel, the lane departure warning system market can be split into original equipment manufacturers (OEMs) and aftermarket. The OEMs segment held a major share of the market primarily due to large vehicle fleets being integrated with lane departure warning system. Moreover, the OEMs segment is expected to expand at a healthy growth rate majorly due to the higher rate of adoption and continuous upgrade of the system.
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