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Lane Keep Assist System Market

Global Lane Keep Assist System Market is expected to foresee steady growth. Europe holds the largest share!

Global Lane Keep Assist System Market is expected to grow at a CAGR of around ~16% during the forecast period 2021-2027. A technology application that combines cameras, sensors, and autonomous assistance is the lane maintaining assist system. It is used on automobiles to force them to drive in a certain lane. When a vehicle deviates from a designated lane, these systems warn the driver that the situation is hazardous or that a collision is imminent. The increase in vehicle sales necessitates more manufacturing via improved infrastructure and safety features, which is predicted to have an impact on the lane keep assist system market’s growth. The expansion of the lane keep assist system market is also projected to be aided by numerous government rules for minimizing accidents and implementing a zero-emission approach. Furthermore, the adoption of strict traffic laws and an increase in consumer desire for automobiles equipped with modern safety systems are expected to boost the market for lane keep assist systems. Furthermore, technological improvements, combined with favorable government regulations, are likely to generate a large demand for lane keep assist systems, propelling the lane keep assist system market forward.

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Because of the rising number of road accidents around the world, governments and international organizations have enacted a slew of new safety regulations, prompting automakers to install technology like the Automotive Lane Warning System in their vehicles (ALWS). Nearly 7% of all fatal accidents can be avoided with the use of a lane departure warning system. The market for lane keep assist systems is predicted to rise in response to rising automotive sales. The lane keep assist system has improved infrastructure and provides autos with a wide range of safety features. The number of traffic accidents has risen steadily during the last decade. The governments of both developed and developing countries are enforcing severe laws and regulations in order to reduce the number of traffic accidents.

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Due to the government’s stated lockdown, the majority of worldwide lane keep assist system manufacturers are experiencing serious challenges such as the shutdown of all operations and reduced production productivity. The coronavirus epidemic has killed millions of people and destroyed industries around the world. Lane keep assist system is a growing sector that is currently being hampered by a lack of labor due to the spread of the coronavirus, which has impacted lane keep assist system production and installation across the afflicted countries. Original equipment manufacturers (OEMs) have also stopped producing lane keep assist systems, significantly reducing demand. The COVID-19 situation is causing stock market anxiety, a major slowdown in supply chains, a drop in corporate confidence, and an increase in panic among customer segments. The pandemic’s overall effect is affecting the production processes of various industries

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For a better understanding of the market adoption of the Lane Keep Assist System, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. During the projection period, the Europe region led the market for Lane Keep Assist System. This is owing to growth in safety awareness and an increase in the number of accidents in the region, which has resulted in a high rate of adoption of lane keep assist technology. During the forecast period, this tendency is expected to continue. Due to the presence of major vehicle manufacturers in Europe, the global lane keep assist system is likely to remain an important market. During the projected period, growing advancements in safety features and the availability of raw components are expected to break through the need for lane keep assist systems. Advance driver aid systems are the safety trend, and thanks to European Union policies, demand for active safety systems like lane keep assist is predicted to rise. Automobile manufacturers in this region are putting in extra effort to improve safety by including a lane keep assist system as an optional or standard feature in luxury and luxurious vehicles.

Global Lane Keep Assist System Market Segmentation

Market Insight, by Function Type

  • Lane Keeping System
  • Lane Departure Warning

Market Insight, by Component

  • Vision Sensor/Camera
  • EPAS Actuator
  • Electronic Control Unit
  • Others

Market Insight, by Vehicle Type

  • Passenger Cars
  • Commercial Vehicle

Market Insight, by Distribution Channel

  • OEM
  • Aftermarket

Market Insight, by Region

  • North America Lane Keep Assist System Market
    • United States
    • Canada
    • Rest of North America
  • Europe Lane Keep Assist System Market
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific Lane Keep Assist System Market
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World Lane Keep Assist System Market

Top Company Profiles

  • ZF Friedrichshafen AG
  • Denso Corporation
  • Continental Ag
  • Robert Bosch Gmbh
  • Valeo
  • Aptiv PLC
  • Velodyne Lidar, Inc.
  • Hella Gmbh & Co.
  • Delphi Technologies
  • Bendix Corporation

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