Lane keep assist system is an active safety system, which detects lane markings on the road with cameras or sensors and assists the driver to keep the vehicle within the lane. This is done either by providing a warning through a buzzer, or seat vibration, or a similar indication, or by automatically steering the vehicle when it departs the lane. If a vehicle departs its lane, the possibility of freak accidents are fairly common in hilly terrain or steep terrain owing to the curving roads and complexities of driving. This is likely to cause severe damage to both the motorist and vehicle. It can be handled through incorporation of lane keep assist system in the vehicle.
A majority of the road accidents occur due to driver’s distraction or negligence. Rising awareness among people and governments of nations across the world to ensure public safety and security by undertaking efforts to reduce road accidents, caused primarily due to driver negligence and distraction is a major factor that is likely to drive the lane keep assist system market. In a few states in the U.S. such as California and Nevada and in the District of Columbia, a rule stated by the U.S. government, mandates autonomous vehicles or vehicles with lane keep assist system to be equipped with an easy to trigger auto-drive disengage switch and an alert system for system failures. Increasing public preference and government emphasis toward advanced driver assistance systems (ADAS) equipped vehicles in recent years due to safety and security concern is also expected to boost the global lane keep assist system market during the forecast period.
The lane keep assist system faces a few drawbacks, despite its numerous advantages. The entire system is operated by an electronic processing unit and positioning system, which faces a threat of cyber-attack and hacking. A hacker of the electronic processing can directly gain complete control over the operation of the vehicle, which can pose a threat to human life. Furthermore, the sensors of the lane keep assist system are unable to detect faded lane markings and the lane keep assist system does not work properly in extreme environmental conditions such as fog, rain, or snow. These minor drawbacks are likely to hamper the lane keep assist system market to some extent during the forecast period.
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The electronic Control Unit (ECU) component segment is responsible for the actions performed by the lane keep assist system, and hence, is expected to offer lucrative opportunities, thereby boosting the global lane keep assist system market during the forecast period. ECU reduces the convolution of the system, by receiving the data from sensors and converting it into readable format. Hence, it is expected to witness significant expansion by 2025.
The report provides the estimated market size of lane keep assist system for 2016, and forecast for the next nine years. The global market size of lane keep assist system has been provided in terms of revenue and volume. Market numbers have been estimated based on key component, sales channel, vehicle type, and regional segments of lane keep assist system for automotive market. Market size and forecast for each major component, sales channel, and vehicle type have been provided in terms of global and regional/country markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
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Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, American Automobile Association, European Automobile Manufacturers Association, Automotive Research Association of India, Organisation Internationale des Constructeurs d’Automobile (OICA), Factiva, etc.