Key Findings for the Global Automotive Lane Keep Assist System Market| Technavio

Technavio has published a new market research report on the global automotive lane keep assist system market 2017-2021 under their automotive library. (Graphic: Business Wire)

LONDON--()--The global automotive lane keep assist system (LKAS) market is expected to grow at an impressive CAGR of close to 24% from 2017-2021, according to a new market research report by Technavio.

Global automotive LKAS market segmentation by application and geography

Technavio’s report on the global automotive LKAS market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by application, which includes passenger vehicles and medium and light commercial vehicles (M&LCV). As projected in 2016, over 98% of the market share originated from passenger vehicles.

Based on geography, the global automotive lane keep assist system market has been segmented into the Americas, APAC, and EMEA. As of 2016, over 40% of the market share came from EMEA.

“The EU has the most stringent laws that monitor vehicle safety and have promoted widespread adoption of ADAS. The LKAS market in the EU will witness strong growth during the forecast period because of regulations that mandate compulsory fitment of ADAS from 2020 in all new vehicles. Stringent safety norms introduced by the European Commission and car assessment programs, such as NCAP will increase the adoption of ADAS during the forecast period,” says Ganesh Subramaniam, a lead analyst at Technavio for automotive electronics research.

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Automotive LKAS market: competitive vendor landscape

The global automotive lane keep assist system market has a considerable number of players which include Bosch, Continental, Delphi, Denso, Mobileye, and Valeo are the key vendors in the market. The adoption of ADAS by OEMs ensures enhancement in comfort as well as safety. With the introduction of stringent safety norms by governments worldwide, OEMs are compelled to design advanced ASDS, which helped them in product differentiation. All these factors are helping the global automotive LKAS market to grow.

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Other topics covered in the report:

Market drivers:

  • Rising safety concerns
  • Increased adoption of automotive safety systems by OEMs

Market challenges:

  • High cost pressure faced by OEMs
  • Rising complexity due to multiple industry specifications

Market trends:

  • Increasing integration of multiple technologies
  • Rising advances in camera technology

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global automotive lane keep assist system (LKAS) market is expected to grow at a CAGR of close to 24% from 2017-2021, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com