Global Trailer Assist System Market, By Vehicle Type (Passenger Car (PC), Light Commercial Vehicle (LCV), Truck), User Type (OEM Fitted, Aftermarket), Components (Camera/Sensor, Software Module), Technology (Semi-Autonomous, Autonomous), Applications (Vehicle Manufacturing, Traffic, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Global trailer assist system market is expected to reach USD 199.15 million by 2028 and witnessing market growth at a rate of 10.7% in the forecast period of 2021 to 2028. Data Bridge Market Research report on global trailer assist system market provides analysis and insights regarding the leading current market analysis scenario, upcoming as well as future opportunities and competitors.
Trailer assist system refers to the system which helps the driver to reverse the vehicle or park the vehicle without causing any accident or damage. The vehicle receives command provided by the system and the driver then only needs to follow the command and operate brakes and accelerator. The trailer system is capable to control a vehicle with the help of a wireless smart device that can be used to execute the reverse and parking operation process remotely, from outside the vehicle.
The demand for autonomous vehicles with safety and comfort solutions integrated into the vehicle is driving the market for the trailer assist system. An increase in the use of towing vehicles is also driving the growth of the market. The manufacturers are implementing these features in passenger cars and commercial vehicles due to the increased demand are also one of the factors for the rise of this market.
The cost of using this trailer assist system while integrating and installing is very high which is restraining the growth of the market. Also, the non-availability of the proper infrastructure in developing countries is likely to restrict the growth of the market over the forecast period.
Limited use of towing trailers in emerging economies is a major challenge for the market in growth. Increasing developments related to semi-autonomous and autonomous vehicles are providing an opportunity for the market to grow.
This trailer assist system market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research global trailer assist system market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Trailer Assist System Market Scope and Market Size
Trailer assist system market is segmented based on the vehicle type, user type, components, technology, and applications. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- The trailer assist system market on the basis of vehicle type has been segmented into passenger car (PC), light commercial vehicle (LCV) and truck. Passenger cars segment is likely to see the fastest growth in the trailer assist system market, as now these technologies are mostly used in passenger cars only. There are very few OEMs who are providing this technology in light commercial vehicles such as Volkswagen and Ford.
- Based on user type, global trailer assist system market has been segmented into OEM, fitted and aftermarket. OEM segment is leading the trailer assist system market and is expected to lead the market over the forecast period also. The trailer assist system is new technology to come in the market, so only OEMs are majorly using this technology in their vehicles.
- Based on components, global trailer assist system market has been segmented into camera/sensor and software module. Software module is anticipated to grow with highest growth rate over the forecast period due to its use in autonomous vehicles, as the demand for autonomous vehicles are rising.
- Based on technology, global trailer assist system market has been segmented into semi-autonomous and autonomous. Semi-autonomous is further segmented into L3 and autonomous further segmented into L4 and L5.
- Based on application, global trailer assist system market has been segmented into vehicle manufacturing, traffic and others.
Global Trailer Assist System Market Country Level Analysis
Trailer assist system market is analysed and market size, volume information is provided by country, vehicle type, user type, components, technology, application as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America region is anticipated to see the fastest growth and dominate the market followed by Europe. In the U.S various OEMs such as Land Rover Limited, Volkswagen AG and Ford Motor Company are providing this technology in vehicles but as optional features. Also, increasing awareness about safety and demand for comfortable and easy driving experience will rise the growth in North America region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Trailer Assist System Market Share Analysis
Trailer assist system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to trailer assist system market.
The major players covered in the trailer assist system market report are Ford Motor Company, Volkswagen AG, Continental AG, Robert Bosch GmbH, Magna International Inc., Westfalia-Automotive GmbH, TowGo, LLC, WABCO, Carit Automotive GmbH & Co. KG, Daimler AG, VALEO, Garmin Ltd., Cogent Embedded, Inc., DornerWorks, Ltd., Jaguar Land Rover Limited, POCLAIN HYDRAULICS, General Motors among some global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Trailer Assist System Market
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