The lane departure warning (LDW) market is projected to expand at a CAGR of 9.7% over the forecast period of 2022-2032, reaching a valuation of USD 12.9 billion by 2032.
Despite vehicles being equipped with sensors and mirrors, poor visibility remains a significant factor contributing to road accidents. To address this, regulations now mandate that all heavy-duty manufacturers install LDW systems, which is expected to boost market growth.
Automobile manufacturers are increasingly subject to stringent passenger safety regulations enforced by various government bodies worldwide. The expansion of the automotive sector, initiatives promoting the adoption of advanced technologies, and the development of structured safety features are all expected to drive the sales of LDW systems over the forecast period.
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Moreover, the rising demand for premium and luxurious vehicle features in emerging economies will create additional growth opportunities for the market. Government initiatives mandating the use of LDW systems in heavy commercial vehicles in the transportation sector are also anticipated to propel market growth in the coming years.
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 USD 0.2 Billion in 2022.
- The China lane departure warning market will offer an absolute dollar opportunity of USD 0.7 Billion over the forecast period.
- Germany will dominate the Europe lane departure market, accounting for 25.1% of the Europe market share in 2022.
“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.
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
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