Trailer Assist System Market Segmented By Component such as Camera/Sensor and Software Module in Passenger Vehicle, Light Commercial Vehicles (LCVs) and Heavy Commercial Vehicles (HCVs)
Industry: Automotive
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Report Type: Ongoing
Report ID: PMRREP30241
The trailer assist system helps to minimize the driver errors by providing driving assistance to the vehicle. This system provides safety and comfort to the driver and provides vehicles easy and precise maneuvering while vehicle reversing, changing lanes and parking.
The new trailer assist system has ability to control a vehicle trailer system from outside the vehicle with greater visibility and awareness by using a wireless smart device which can be used to remotely execute reversing and parking operations from outside the vehicle.
During remote operation, to control low-speed steering, shifting, braking and acceleration, the driver can uses a smart Android or iOS device to control the trailer assist system.
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The increasing sale of vehicles is expected to multiply the demand for comfort and safety among the consumers. Parking a trailer is a challenging task for the driver, sometimes driver may face an accident which can be minimized by providing driving assistance to the vehicle. The aforementioned factors expected to increase the demand of trailer assist system.
However, the usages of towing trailers in developing countries is reducing day by day, owing to the increase in accident. Also the government of South Africa incorporated certain rules and regulation for towing trailers, this is expected to impede the growth of market.
The major market players are focusing on strategic collaboration with other manufacturer of trailer assist system to enhance their production capabilities. For instance, in September 2018, WABCO partnered with Valeo, an automotive technology leading company for automotive industry innovations, in order to develop a next-generation of Advanced Driver Assistance Systems (ADAS) for autonomous vehicles.
Moreover, Volkswagen AG is offering the trailer assist system in the European region for Touran and Crafter van only except few countries also in North America Ford Motor Company provides trailer assist system for F-series which includes the US and Canada.
The growing development of trailer assist system in the North America, estimated to dominate the trailer assist system market over forecast period. Inclination of Europe towards automated products and increased level of safety concerning passenger and driver in European region expected to create significant growth rate in the upcoming year.
Europe is anticipated to be the second in the trailer assist system market followed by North America and projected to have significant growth in the trailer assist system market. Asia Pacific market is expected to create healthy growth momentum for the trailer assist system. Moreover, Latin America is anticipated to be follow by Asia Pacific over the forecast period.
The Middle East & Africa is expected to have moderate share in the trailer assist system market as compared to other regions.
The manufacturing companies are also focus on technologically developed vehicle assist systems aiming to reduce fatalities related to vehicle parking and increase precision in parking. For instance, Valeo introduced XtraVue Trailer system that uses several cameras mounted at the rear of the trailer.
Some of the key players involved in the trailer assist system market include Continental AG, Robert Bosch GmbH, WABCO Holdings Inc., TowGo, LLC, Valeo, Garmin Ltd., Cogent Embedded Inc., Echomaster, Ford Motor Company, Carit Automotive GmbH & Co. KG, Volkswagen AG, Delphi Automotive, Siemens AG, ZF Friedrichshafen AG, Westfalia Ltd., Hella KGaA Hueck & Co., Hitachi, Ltd., Magna International Inc., Land Rover, and some others.
The research report presents a comprehensive assessment of the trailer assist system market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The research report provides analysis and information according to trailer assist system market segments such as component, vehicle type, technology, sales channel.
The market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various factors on trailer assist system market segments and geographies.
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