The global trailer assist system market report is a useful resource that provides current as well as upcoming technical and financial details of the industry to 2026. This global trailer assist system market report provides top to bottom examination of the market as far as income and developing business sector is concerned. This global trailer assist system market research report is promising and the way in which you anticipate. The analysis and forecasting of global trailer assist system market data using best statistical and coherent models, market share analysis and key trend analysis are the major accomplishing factors in this market report. A high quality global market research is brought together for the success of your business at international level.
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Global trailer assist system market is expected to rise to an estimated value of USD 162.51 million by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the widespread availability of technologies for autonomous vehicles, along with increased adoption rate of these technologies.Few of the major competitors currently working in the global trailer assist system market 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 and among others.
- Better safety, ease in driving and parking of vehicles with the adoption of these systems; this factor is expected to drive the growth of the market
- Rise in the utilization of towing vehicles in various regions of the world is expected to augment growth of the market value
- Increased implementation of these services in passenger cars and commercial vehicles is also expected to drive the growth of the market
- High financial costs associated with the integration and installation of these systems is expected to restrict the adoption rate
- Lack/absence of required infrastructure for the efficient operations of these systems is expected to restrict the growth of the market
Trailer assist system is the integration of various electric components and technologies resulting in better assistance services to the driver while they are reversing their vehicle. This system is essentially utilized in vehicles with a trailer attached to their rear end which inhibits the visual experience for the driver requiring artificial assistance which is achieved with the help of trailer assist systems.
Segmentation: Global Trailer Assist System Market
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicle (LCV)
By User Type
- Original Equipment Manufacturer (OEM) Fitted
- Software Module
- Vehicle Manufacturing
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
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Key Developments in the Market:
- In January 2019, Valeo exhibited their invisible trailer system at the “CES 2019”, branded as “XtraVue Trailer”. The demonstration exhibited the live operations of the system, helping the driver of the vehicle to visualize the surroundings, with the help of camera systems, providing an image of the surrounding captured from different angles making the trailer attached to the vehicle invisible for better manoeuvring.
- In September 2017, EchoMaster announced the launch of their front-facing camera systems for applications in mid-sized and full-sized trucks. The cameras have the capability of adjusting and transforming the lighting systems depending upon the conditions while the vehicle is being parked. The cameras are also triggered with the help of vehicle motion, making them active and visualizing the front-end of the truck. The cameras will be integrated with the existing “IntelliHaul” system and an upgraded version will be available in the market.
Global trailer assist system market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of trailer assist system market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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