LANE KEEP ASSIST SYSTEM MARKET ANALYSIS

Market Challenges And Opportunities

• High Integration and Maintenance Cost
• Privacy and Data Security Concerns

• Increasing adoption of ADAS features in mid-range and economy vehicles: Growing awareness of road safety among consumers has led to increased demand for vehicles equipped with advanced safety features. As safety becomes a key purchasing criterion, automakers are incorporating ADAS technologies to enhance the overall safety of their vehicles. Increasing integration of ADAS features such as lane keep assist system in mid-range and economy vehicles by auto manufacturers is expected to drive market growth. For instance, in October 2023, Tata Motors Limited, a multi-national automotive company launched Safari and Harrier facelift vehicles which also includes lane keep assist systems.
• Government regulations pertaining to vehicle safety: Stringent safety regulations and standards imposed by governments and regulatory bodies worldwide have significantly influenced the adoption of lane keep assist systems. Compliance with these regulations encourages automakers to integrate advanced safety features, including lane keep assist systems, into their vehicles. Government regulations mandating lane keep assist system in vehicles are contributing to the market growth. For instance, in April 2021, under European Union (EU) vehicle safety regulations, which started in July 2022, all new car and van models are required to feature emergency lane-keeping systems, and the existing models must be equipped with this system by July 2024.
• Increasing development of autonomous vehicles: The escalating development and testing of autonomous cars by various companies are having a substantial impact on the integration of advanced driver assistance systems features, particularly lane keep assist, thereby fostering market growth. Companies involved in autonomous vehicle development are at the forefront of incorporating cutting-edge technologies. As they strive to achieve higher levels of automation, they are integrating advanced ADAS features, including lane keep assist, to enhance the overall capabilities and safety of autonomous driving systems.

• Growing traction for high level autonomous vehicles: Continuous evolution of autonomous driving technology represents a significant opportunity for lane keep assist system, as these systems play a pivotal role in shaping and enhancing the safety features of autonomous vehicles. The development of autonomous driving technology is characterized by different autonomy levels, and lane keep assist system becomes increasingly crucial as vehicles progress through these stages, contributing significantly to the overall autonomous driving experience. Lane keep assist systems serve as a foundational safety feature in the progression towards autonomous driving. At lower autonomy levels, lane keep assist system acts as a driver assistance tool, thus helping to maintain the vehicle within its lane. As autonomy increases, the role of lane keep assist system becomes more sophisticated, thereby contributing to the overall safety framework.
• Increasing adoption in commercial vehicles and fleets: Growing opportunity for the adoption of lane keep assist system in commercial vehicles and fleets is rooted in the potential for significantly enhancing safety, reducing accidents, and optimizing operational costs. Commercial vehicles often operate in diverse environments and weather conditions. Lane keep assist system that are designed to adapt to various road conditions, provides consistent lane-keeping assistance, regardless of factors such as inclement weather or challenging road surfaces. Lane-keeping technology enhances operational efficiency in commercial fleets. By minimizing lane departures, vehicles can maintain a more consistent and predictable course, optimizing fuel efficiency and reducing the need for sudden corrections that can impact overall fuel consumption.
• Rising demand for electric vehicles: Growing demand and production of electric vehicles (EVs) globally present a significant opportunity for the integration of Lane Keeping Assist System (LKAS) and other ADAS. This trend not only aligns with the broader automotive industry's emphasis on safety and innovation but also contributes to the overall market growth of ADAS technologies. Electric vehicles often feature advanced onboard computer systems and sensors to manage electric propulsion. Integration of ADAS systems like lane keep assist system is facilitated by the existing architecture of electric vehicles, thereby making it more seamless and efficient to implement these safety features.