The Business Research Company’s report on the Lane Keep Assist System Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the lane keep assist system market in recent years?
The surge in demand for automobiles is expected to propel the growth of the lane-keep assist system market going forward. An automobile is an internal combustion-powered, four-wheeled self-propelled vehicle intended for personal mobility. Automobiles with Lane Keep Assist (LKA) have a driver-assistance system that lets drivers stay in their lane while moving. LKAS provides steering input to keep the car in the middle of a detected lane, and it also gives tactile and visual alerts if the vehicle is seen to be veering off course. For instance, in 2023, according to the Organisation Internationale des Constructeurs d’Automobiles (OICA), a France-based international association of automobile manufacturers, the global automotive industry in 2023 experienced notable growth, with total vehicle production reaching 93546599 units, a significant increase from the 85016728 units produced in 2022. Therefore, the surge in demand for automobiles is driving the growth of the lane-keep assist market.
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What is the projected market size of the lane keep assist system industry, and how is it expected to grow?
The lane keep assist system market size has grown exponentially in recent years. It will grow from $10.4 billion in 2024 to $12.58 billion in 2025 at a compound annual growth rate (CAGR) of 21.1%. The growth in the historic period can be attributed to the initial adoption of driver assistance features, government regulations on vehicle safety, raising awareness of road safety, urbanization and increased traffic, and concerns over driver fatigue and distraction
The lane keep assist system market size is expected to see exponential growth in the next few years. It will grow to $27.27 billion in 2029 at a compound annual growth rate (CAGR) of 21.3%. The growth in the forecast period can be attributed to the integration of advanced driver assistance systems (ADAS), stricter global safety standards, growing consumer demand for autonomous features, and expansion of electric and autonomous vehicle markets. Major trends in the forecast period include the integration of artificial intelligence in lane-keep assist systems, the development of advanced lane-keeping algorithms, evolution of 3d imaging for improved lane detection, the convergence of lane-keeping with other ADAS features, and increasing focus on semi-autonomous and autonomous driving capabilities.
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Who are the key players driving competition in the lane keep assist system market?
Major companies operating in the lane keep assist system market include Volkswagen AG, Mercedes-Benz Group AG, Robert Bosch GmbH, Panasonic Corporation, ZF Friedrichshafen AG, Denso Corporation, Continental AG, Mitsubishi Electric Corporation, Hyundai Mobis, Magna International Inc., Aisin Seiki Co. Ltd, Nvidia Corporation, Valeo S.A., Texas Instruments Incorporated, Aptiv PLC, Infineon Technologies AG, Hitachi Astemo Ltd., JTEKT Corporation, Renesas Electronics Corporation, Autoliv Inc., HELLA GmbH & Co., Omron Corporation, Visteon Corporation, Gentex Corporation, Mobileye Global Inc., Veoneer Inc., Bendix Commercial Vehicle Systems LLC, Stoneridge Inc.
What key trends are expected to drive the laboratory chemicals market during the forecast period?
Technological advancements are a key trend gaining popularity in the lane keep assist system market. Major companies operating in the lane keep assist system market are adopting new technologies to sustain their position in the market. For instance, in February 2023, ZF Friedrichshafen AG, a Germany-based technology company, launched OnTraX lane-keeping assist technology for PACCAR trucks. ZF’s OnTraX introduction is the company’s first lane-maintaining assistance on a commercial vehicle platform in North America, combined with ZF’s ReAX adaptive steering. The technologies are intended to assist in lowering the 32% of truck accidents brought on by unintended lane exits. Once OnTraX decides that the truck is in its lane and moving at least 40 mph, or cruising speed, it turns on. The lane maintaining aid technology is made possible by a forward-facing camera that ‘sees’ the borders of a specified lane.
Which key geographies are driving the growth of the lane keep assist system market?
Europe was the largest region in the lane keep assist system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lane keep assist system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the key segments driving growth in the lane keep assist system market?
The lane keep assist system market covered in this report is segmented –
1) By Component: Vision Sensor Or Camera, Electronic Power-Assisted Steering (EPAS) Actuator, Electronic Control Unit, Other Components
2) By Function Type: Lane Keeping System, Lane Departure Warning
3) By Vehicle Type: Passenger Vehicles, Commercial Vehicles
4) By Propulsion: Internal Combustion Engines, Electric And Hybrid
5) By Sales Channel: Original Equipment Manufacturers (OEMs), After market
Subsegments:
1) By Vision Sensor Or Camera: Mono Cameras, Stereo Cameras
2) By Electronic Power-Assisted Steering (EPAS) Actuator: Column-Mounted Actuators, Rack-Mounted Actuators
3) By Electronic Control Unit (ECU): Central Processing Unit (CPU), Application-Specific Integrated Circuits (ASICs)
4) By Other Components: Gyroscope Sensors, Radar Sensors, Wiring Harnesses
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What defines the structure and scope of the lane keep assist system market?
The Lane Keep Assist System (LKAS) is a type of driver assistance technology made to aid drivers in keeping cars in lanes. It gives steering input to keep the vehicle in the middle of a detected lane and gives tactile and visual alerts if the car is seen to be drifting off the lane.
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