Asia Pacific Lane Departure Warning Systems Market

APAC Lane Departure Warning Systems Market Analysis

The Asia Pacific Lane Departure Warning Systems Market is expected to register a CAGR of greater than 15% during the forecast period.

• The consistent increase in the number of vehicular accidents, primarily due to abrupt lane change, has led to concerns among both the consumers and governments across the world. Thus, in the automotive industry, technological advancements have been highly essential to reduce road accidents while enhancing passengers' and drivers' safety. Furthermore, rising safety concerns among the consumers have been propelling the need to implement advanced driver assistant systems (ADAS). This, in turn, has been driving the demand for lane departure warning systems (LDWS).
• The increasing adoption of advanced driver assist systems (ADAS) is expected to propel the LDWS market's growth. The income in the emerging economies, such as India and China, has been increasing, and the customers have been opting for expensive vehicles in luxury cars and SUV segments. This factor has been propelling the market growth for the automotive lane warning system.
• Vehicle OEMs are collaborating with technology companies to produce ADAS systems such as Lane Warning Systems. For instance, in August 2020, Mitsubishi Fuso Truck and Bus Corporation (MFTBC) launched an all-electric light-duty truck eCanter with enhanced safety features. The Lane Departure Warning System (LDWS) detects lane deviation through a white line recognition camera. When the vehicle deviates from a lane without a turn signal, the system alerts the driver and displays a warning on the dashboard.

APAC Lane Departure Warning Systems Market Trends

Growing Emphasis On Safety Solutions

With the growing safety concerns among both the consumers and governments across Asia-Pacific, the government and international organizations are enacting stringent safety regulations, which ensure the inclusion of ADAS in the vehicles for the passengers and driver's safety in developing countries, like India and China. As a result, many leading automakers are equipping vehicles with technologies such as Automotive Lane Warning System (ALWS).

Apart from safety concerns, a consistent rise in electric vehicles' sales is also providing significant growth opportunities to develop next-generation cars with advanced safety systems. Consequently, driving the need for lane departure warning systems. These systems work with sensors and cameras, assisting the drivers and aiding in reducing numerous unintended lane departures caused by distractions and drowsiness.

However, owing to high initial and maintenance costs, LDWS is currently available majorly for the luxury car segment. OEM's are collaborating with automotive safety system suppliers to bring down the system's value by incorporating the latest technologies. Reduction in the system's cost is expected to further drive the market in other developing countries such as Indonesia, Thailand, and other ASEAN countries.

South Korea will Witness Significant Growth in the Market

South Korea's automotive industry is one of the country's critical sectors, contributing over 10% to its GDP every year. Due to the increasing road accidents, the government implemented stringent safety regulations, which drive the LDWS market's growth.

Whereas, from January 2019, the government ordered that all new large passenger vehicles and trucks be fitted with Automated Emergency Braking (AEB) and Lane Departure Warning (LDW) systems. These factors are expected to help this market grow during the forecasted period.

According to a report by the Korea Times in 2019, the government and vehicle manufacturers will invest around USD 50.7 billion in the industry by 2025. South Korean government plan is to complete the communications, road, and traffic infrastructures essential for completely autonomous driving by 2024. The government is also planning to promote hydrogen and electric vehicles so that they can account for more than 30 percent of new cars in South Korea in 2030.

The lane warning stems market in South Korea has witnessed steady growth until the start of 2020. However, COVID 19 has hugely affected the market growth. Still, the restating of South Korea is expected to resume economic activities, and the country's Lane warning Market is expected to continue to pick up the pace.

APAC Lane Departure Warning Systems Industry Overview

The Asia Pacific Lane Warning Systems Market is dominated by various international and regional players such as Continental AG, Delphi Automotive, Robert Bosch Gmbh, and Mobileye. The APAC region has seen explosive growth in the last few decades, mostly contributed by China's huge automotive industry and, to a considerable extent, by the fast-growing Indian auto industry. Although due to US-China trade friction and COVID-19 halted the market's growth for a couple of years. The market will regain its momentum from 2021, as major players in the region are launching vehicles with lane warning systems, and various governing bodies are introducing various stringent regulations. For instance,

• In April 2020, SAIC-GM launched the all-new Buick GL8 Avenir in China. The Buick GL8 Avenir is a leading platform for innovation in China, with 20 advanced intelligent driving features that support the highest safety level. Aptiv's and SAIC-GM's software applications enable a full range of features such as Adaptive Cruise Control, Forward Collision Warning, Lane Change Assist, Traffic Jam Assist, and Door Open Warning.
• In June 2020, the UN announced more than 50 countries, including Japan, South Korea, and the EU member states, have agreed with standard regulations for vehicles that can take over some driving functions, including having lane-changing systems. The binding rules on Automated Lane Keeping Systems (ALKS) will come into force in January 2021. The measures were adopted by the United Nations Economic Commission for Europe (UNECE) World Forum for Harmonization of Vehicle Regulations, which brings together 53 countries, not just in Europe but also in Africa and Asia.

APAC Lane Departure Warning Systems Market Leaders