Over the forecast period of 2022-2032, the lane departure warning (LDW) market is expected to grow at a CAGR of 9.7%, reaching US$ 12.9 Bn by 2032.
All vehicles have sensors, and despite being well-equipped with mirrors, they have poor visibility, resulting in road accidents. As a result, all heavy-duty manufacturers are required to install LDW,. This is expected to augment sales in the market.
Automobile manufacturers are subjected to stringent passenger safety regulations imposed by various government bodies around the world. Expansion of the automotive sector, rising initiatives to promote the adoption of advanced technologies, and the development of structured safety features will continue pushing sales of LDW over the forecast period.
Further, rising demand for premium and luxurious features in vehicles in emerging economies will create opportunities for growth in the market. Besides this, government initiatives mandating the use of LDW systems in heavy commercial vehicles in the transportation sector will drive the market in the forthcoming years.
“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.
By technology type, sales in the ultrasonic sensors segment will account for 41.5% of the total market share in 2022.
Based on vehicle type, the passenger vehicle segment will dominate the market, accounting for more than 0% of the total market share.
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 US$ 0.2 Bn in 2022.
The China lane departure warning market will offer an absolute dollar opportunity of US$ 0.7 Bn over the forecast period.
Germany will dominate the Europe lane departure market, accounting for 25.1% of the Europe market share in 2022.
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.
More Insights into the Lane Departure Warning (LDW) Market Report
In its latest report, FMI offers an unbiased analysis of the global lane departure warning (LDW) market, providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of technology type (ultrasonic sensor, lidar sensor, radar sensor, camera sensor, infrared sensor, and pressure sensor), sales channel (OEM and aftermarket) and vehicle type (passenger vehicles, light commercial vehicles and heavy commercial vehicles) across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).
About FMI – Automotive and Transportation
The Automotive and Transportation division of FMI provides exclusive coverage and actionable insights about automotive and transportation industry encompassing automotive, aviation, shipping and marine, and railway sector. Market findings and competition intelligence of OEM, aftermarket, services and technology landscape have helped numerous industry stakeholders’ right from automakers, component manufacturers, channel partners and service providers in taking informed decisions and keeping them up-to-date with market behavior.
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