Rising cases of road accidents and fatalities, combined with growing focus on smart cities is fuelling investments in lane keep assist system technologies and equipment
Albany, NY -- (SBWIRE) -- 06/25/2018 -- A new detailed study titled "Lane Keep Assist System Market For Automotive – Global Industry Analysis, Size, Share, Growth, Trends, And Forecast 2016 – 2025" has recently been submitted to the repository of Market Research Reports Search Engine (MRRSE). According to the research study, the lane keep assist system market is likely to grow at over 15% CAGR through 2025.
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The research study analyzes the key drivers, restraints, opportunities, and trends prevailing in the lane keep assist system market. According to the research, governments around the globe are focusing on improving their road safety apparatus. Rising cases of road accidents and fatalities, combined with growing focus on smart cities is fuelling investments in lane keep assist system technologies and equipment. These factors are likely to provide an impetus to growth during the assessment period.
The lane keep assist system market is also likely to witness steady growth on account of macroeconomic trends. Global organizations such as the World Bank and United Nations are increasing the funding for infrastructural activities. Automotive manufacturers are aware of the growing concerns about road safety, and are equipping their vehicles with modern technology to ensure patient safety. These features are likely to provide an impetus to growth during the assessment period.
The report segments the global lane keep assist system market into sales channel, vehicle type, component and region. The sales channel segment is further bifurcated into Aftermarket and OEMs. The vehicle segment is sub-segmented into commercial vehicle and passenger vehicle. The component segment is categorized into EPAS Actuator, Vision Sensor/ Camera, Electronic Control Unit and others.
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Geographically, the market is divided into key regions globally which are Latin America, Europe, Middle East & Africa, North America and Asia Pacific. According to the research, Asia Pacific will continue to be one of the leading markets for lane keep assist systems market globally. The market in the region will be driven by growing sales of vehicles in Asia Pacific. In addition to Asia Pacific, the market is also likely to witness steady growth in North America and Europe.
The report profiles some of the leading players operating in the market. Some of these players are Valeo, Preco Electronics, Robert Bosch GmBH, ZF Friedrichshafen AG, Hitachi. Ltd., Delphi Automotive PLC., Denso Corporation, Mobileye, Velodyne LiDAR, Inc., Gentex Corporation, Continental AG and Gentex Corporation. These leading players are focusing on increasing their market presence in emerging markets.
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