The trailer assist system market is projected to grow at a CAGR 8.97% rate during the forecast period. The demand for safety and comfort has always been a prime preference in vehicles. With the increase in sales of passenger cars and LCVs, consumers are increasingly demanding comfort and safety for these vehicle segments. Due to the inefficiency of drivers, many accidents happen during the parking of a vehicle. Parking a vehicle attached with a trailer is a challenging task even for trained drivers.

Passenger cars segment is estimated to be the fastest growing market during the forecast period. Currently, the market is mostly limited to passenger cars only, and there are very few OEMs providing trailer assist system in LCVs, which includes Ford and Volkswagen. The trailer assist system that is available in trucks has different functioning from passenger cars and LCVs as it supports truck movement during reversing operations by detecting small, large, static and moving objects in the blind spot behind the vehicle and automatically brakes. It does not automatically steer the truck as it does in passenger cars and LCVs.

The North American market is expected to register the fastest growth during the forecast period. The market in Canada is estimated to grow at a good pace over the next eight years. In Canada, various OEMs such as Ford and Land Rover are providing trailer assist system in vehicles as an optional feature. Increasing safety awareness among consumers, rise in the demand for a safe, efficient, & convenient driving experience and increase usage of towing trailers will drive the Canadian market which in turn will drive the demand for trailer assist system in the North American region.

Key Market Players include Continental (Germany), Bosch (Germany), Magna (Canada), WABCO (Belgium), and Westfalia (Germany).

Key Questions:

 

• Many companies are operating in the trailer assist system across the globe. Do you know who the front leaders are, and what strategies have been adopted by them?

 

• Fast-paced developments in trailer assist system such as a wireless tablet, trailer angle detection, and blind spot detection by leading manufacturers are expected to change the dynamics of the trailer assist system. How will this transform the overall market?

 

• The feature is currently available for semi-autonomous passenger cars with partial manual functions, but do you think an autonomous version can be seen in development?

 

• Who are the key players in the market?

Segmentation