Market Research Report
Lane Departure Warning System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||960424|
|Published||Content info||110 Pages
Delivery time: 2-3 business days
|Lane Departure Warning System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: September 3, 2020||Content info: 110 Pages||
The global lane departure warning system market grew at a CAGR of around 18% during 2014-2019. Lane departure warning system (LDWS) refers to an in-vehicle electronic mechanism that monitors the position of a vehicle within a lane of the roadway and alerts the driver in case of any deviation. The system uses video cameras and algorithms to detect road markings around the vehicle and monitor its position inside the lane. In case of any unintentional deviation, it warns the driver by sending a visual, audible or haptic signal, such as vibrations in the steering wheel. This enables the driver to counter-steer promptly, thereby minimizing the possibility of any accidents.
Significant growth in the automotive industry, along with increasing utilization of automated systems, is one of the key factors creating a positive outlook for the market. Furthermore, the rising number of road fatalities due to driver negligence is also providing a boost to the market growth. LDWS is primarily installed in passenger cars and other commercial vehicles to ensure the safety of both the passengers and pedestrians. Additionally, increasing awareness among the masses regarding road safety and the adoption of advanced driver assistance systems (ADAS), are acting as other growth-inducing factors. These systems automatically steer the vehicles back to the correct lane and assist the drivers in staying focused, minimizing unintended lane departures and avoiding accidents. Other factors, including the integration of advanced systems, such as radar sensing, data fusion and video sensing technologies into a single module, are expected to drive the market further. Looking forward, IMARC Group expects the global lane departure warning system market to continue its strong growth during the next five years.