Global Lane Keep Assist System Market for Automotive was valued at US$ XX Bn in 2017 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX % during a forecast period.
The upsurge sales of vehicles is also demanding more for production via better infrastructure and safety feature, long-distance travelers by mitigating the effects of driver fatigue, inattention, or negligence, vehicle manufacturers introduced technologies that can either try or prevent accidents, altogether government regulations for reducing accidents and zero emission policy can boost the demand for it. In the current scenario, demanding vehicle for purchasing rate is over 50%, government incentives and subsidy schemes are some of the growth factors of the global Lane Keep Assist System Market for Automotive. This factor is expected to impact more on the growth of Lane Keep Assist System Market for Automotive.
Global Lane Keep Assist System Market for Automotive
Based on the Battery type, Passenger vehicle segment is expected to hold the largest share in the market during the forecast period due the passenger vehicle segment accounted for a prominent share of the market owing to the increasing demand for passenger vehicles globally, primarily for local and intercity transport. In 2016, in terms of revenue, the passenger vehicle segment dominated the lane keep assist system market. Demand for lane keep assist system is expected to remain high owing to the higher number of accidents caused in this segment of vehicle. In Sales channel, Aftermarket market segment is also expected to lead the market growth.
The report provides details list of drivers and restraints of the market, which are influencing the market growth.
Major driving factors of the market are with the introduction of stringent traffic regulations, automotive OEMs across the globe are increasingly focusing on passenger safety and adoption of active safety systems provides increased assistance in controlling the vehicle and avoids accidents during critical situations, increasing consumer preference for vehicles equipped with advanced safety systems. Rising emphasis by governments on infrastructure and transport system is anticipated to play an important role in the rapid expansion of the global Lane Keep Assist System Market for Automotive, growth in the need for aromatherapy, Technological advancements in the market are creating more opportunity in lane keep the assistant market. The lack of proper infrastructure and Limited charging infrastructure will act as a restraint to the market.
In terms of region, Asia Pacific is expected to hold the largest share in the market during the forecast period owing to increased automation sector, the Asia Pacific is also expected to expand at a significant growth rate due to safety norms and improved road infrastructure that assists the function of the lane keep assist system. Safety regulations imposed by the Asian countries regarding testing and implementation of lane keep assist systems in the region to ensure safety are boosting the automotive manufacturing economy and the middle-class population is increasing in this region at higher such as in India and China. The major auto manufacturers in China and Japan are upgrading their products to provide superior performance. Japan, India, and China are forecast to be the two fastest-growing markets in the Asia Pacific for vehicles production.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
Key player’s studies, analyzed, profiled and benchmarked in Lane Keep Assist System Market For Automotive are Robert Bosch GmbH, Panasonic, ZF-TRW, Visteon, Denso Corporation, Delphi Automotive PLC., Continental AG, Valeo, ZF Friedrichshafen AG, Mobileye, Hyundai Mobis, Magna and WABCO.
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The scope of the Report for Lane Keep Assist System Market For Automotive
Global Lane Keep Assist System Market For Automotive, by Component
• Vision sensor/camera
• EPAS Actuator
• Electronic Control Unit
Global Lane Keep Assist System Market For Automotive, by Sales Channel
• Original Equipment Manufacturers (OEMs)
Global Lane Keep Assist System Market For Automotive, by Vehicle Type
• Passenger Vehicles
• Commercial Vehicles
Global Lane Keep Assist System Market For Automotive, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Lane Keep Assist System Market For Automotive
• Robert Bosch GmbH
• Denso Corporation
• Delphi Automotive PLC.
• Continental AG
• ZF Friedrichshafen AG
• Hyundai Mobis
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This Report is published by Maximize Market Research