Lane Departure Warning Market will Register a CAGR of 9.7% through 2032

 

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.

Key Takeaways:

·         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.

Competitive Landscape

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).

For more information:

https://www.futuremarketinsights.com/reports/lane-departure-warning-ldw-market

Comments

Post a Comment

Popular posts from this blog

Automotive Wiring Harness Market to witness a high CAGR through 2027

  Substantial increase in the investment for automated driving activities and development of electric vehicles charging infrastructure across the globe are expected to remain key defining factors in the global  automotive wiring harness market . As per FMI’s analysis, the global automotive wiring harness sales are set to exceed US$ 48 Bn in 2021, whereas in the long-term, revenues will grow at 9.4%. FMI’s latest edition of the report reveals latest perspectives, along with a detailed analysis of how COVID-19 induced slowdown will impact future sales. The COVID-19 pandemic crisis has severely affected the global economic growth, resulting in complete shutdown manufacturing activities and disruptions in the supply chain networks. However, automotive wiring harness market is expected to recover sharply as the economic activity resumes post the containment of pandemic. Key Takeaways ·          Automotive wiring harness demand is driven by healthy demand from automotive production in
Read more

Automotive Pump Market Expected to Behold a CAGR of 6.1% through 2021-2031

  The automotive pump market is expected to witness a significant growth in 2021, thanks to the implementation of various carbon emission norms across various countries. A study by Future Market Insights (FMI) on  automotive pump market  has forecast it to reach US$ 106.0 Mn by the end of 2031, growing at a CAGR of 6.1% over the forecast years (2021-2031). The rising passenger vehicle sales will remain a chief growth driver. In terms of vehicle type, passenger vehicle segment is forecast to remain dominant, accounting for over 70% of sales recorded in the market. Key Takeaways of Automotive Pump Market Study ·          After a period of slow growth amid COVID-19, the automotive pump sales is poised to recover, exhibiting nearly 6% Y-o-Y growth in 2021 ·          The demand from the U.S. will remain a chief growth driver as the country continues accounting for over 80% of sales registered in North America ·          Increasing passenger vehicle production will support growth i
Read more

Battery Energy Storage System Market Estimated to Exhibit 32% CAGR through 2026

  According to an analysis by Future Market Insights (FMI), the   battery energy storage systems  market  is expected to be valued at US$ 64.92 Bn in 2032, with 27.9% CAGR during the forecast period. The market’s expansion can be attributed to rising demand for  grid energy storage systems  due to ongoing grid modernization, increasing penetration of lithium-ion batteries in the  renewable energy  sector, and the rising trend of adopting a low-carbon fossil-fuel-free economy, as well as the ongoing  renewable energy  revolution. The most common renewable energy kinds stored in grids are  solar and wind energy . However, the energy generation process is disrupted when the sun is obscured by clouds or by changing wind currents. Moreover, the significant financial investment necessary to build battery energy storage devices, on the other hand, is limiting industry expansion. Such oscillations necessitate the deployment of flexible grid solutions for  energy storage.  Grid modernizat
Read more