DUBLIN, December 1, 2017 /PRNewswire/ --
The "Global Automotive Lane Keep Assist System Market 2017-2021" report has been added to Research and Markets' offering.
The global automotive lane keep assist system market to grow at a CAGR of 23.8% during the period 2017-2021.
Global Automotive Lane Keep Assist System Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the mid-segment cars, luxury segment cars, super sports cars, and light commercial vehicles.
The latest trend gaining momentum in the market is Increasing integration of multiple technologies. LKAS has been widely adopted by OEMs due to its ability to reduce road accidents. It also helps OEMs to adhere to the safety regulations and attain a higher ranking by regulators on the added safety feature offered by them. To attain this, OEMs have either started developing their own ADAS or have partnered with third-party vendors. The move toward the fusion of video sensing, radar sensing, and data fusion into a single system will drive the market growth in the future.
According to the report, one of the major drivers for this market is Rising safety concerns. Advanced safety features are no longer an exclusive feature in luxury and super sports cars. It has now been widely accepted in mid-segment and commercial vehicles. Currently, customers give more importance to the safety features of vehicles than their price. The increasing demand for safety features has compelled OEMs to offer ADAS. All the major manufacturers and OEMs are investing a lot in R&D to integrate passive and active safety systems such as ACC, AEBS, BSD, LDWS, LKA, and NVS. LKAS is a controlling safety system, which automatically steers the vehicle back to the current driving lane, thereby avoiding accidents.
Further, the report states that one of the major factors hindering the growth of this market is High cost pressure faced by OEMs. The introduction of stringent safety norms has forced OEMs to adopt ADAS, but the increase in the overall cost of the vehicle has restricted the adoption to only luxury and super sports vehicles. ADAS components such as LDWS, NVS, BSD, and LKAS are very expensive as they use cameras and radar sensors. Manufacturers are aiming for economies of scale to reduce the price of the system, but currently, it is not possible due to the nascent stage of the technology and lower adoption rates.
Other prominent vendors
- Aisin Seiki
- Calsonic Kansei
- Hyundai Mobis
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Application
Part 07: Geographical Segmentation
Part 08: Decision Framework
Part 09: Drivers And Challenges
Part 10: Market Trends
Part 11: Vendor Landscape
Part 12: Key Vendor Analysis
Part 13: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/jxx4tt/global_automotive
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SOURCE Research and Markets