Global Trailer Assist System Market Trends, Applications, Analysis, Growth, and Forecast to 2028

The Trailer Assist System Market report has been segmented on the basis of vehicle type, user type, component, technology, and region.

Trailer Assist System Market: Overview

“The Trailer Assist System Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

A trailer assist system is used to help the driver park or reverse the vehicle with a towing trailer at the rear.

This system minimizes driving errors along with saving time. The trailer assist system offers safety and comfort while reversing or parking the vehicle.

Trailer Assist System Market: Dynamics

Increasing demand for autonomous vehicles with safety and comfort features is a major factor expected to proliferate the growth of the target market in the years to come.

Additionally, increasing the adoption of towing trailer vehicles in developed countries is another factor expected to augment the growth of the global trailer assist system market.

Furthermore, the implementation of trailer assist systems in passenger cars and light commercial vehicles and the development of technologies are factors expected to support the growth of the target market in the next 10 years.

However, high cost of system and limited use of towing trailers in emerging countries are factors which may restrain demand for trailer assist system and hamper growth of the target market.

Increasing R&D and investment in the automotive sector owing to automated and semi-automated vehicles are factors expected to offer new revenue opportunities for manufacturers operating in the target market.

Trailer Assist System Market: Segment Analysis

Among the vehicle type segments, the passenger cars segment is expected to register highest growth in terms of revenue in the target market owing to increasing demand for the trailer assist system in passenger cars.

Among the user type segments, the OEM fitted segment is expected to account for significant revenue share in the next 10 years.

Increasing demand for towing trailers is a factor expected to drive segment growth of the market.

Among the component segments, the camera/sensor segment is projected to register major share in terms of revenue in the target market owing to rising safety measures.

Among the technology segments, the autonomous segment is expected to register the highest growth in terms of revenue in the target market owing to increasing initiatives and advancements in technology.

Trailer Assist System Market: Region Analysis

The North America trailer assist system market is expected to register significant growth in terms of revenue in the target market, owing to increasing demand for OEMs such as Land Rover and Ford having trailer assist system as an additional feature.

The trailer assist system market in North America is expected to grow at a faster rate in the target market in the next 10 years.

The Europe market is expected to register a considerable share in the global trailer assist system market owing to increasing demand for a passenger cars in countries in the region.

The trailer assist system in Asia Pacific is projected to register moderate growth in terms of value in the target market.

This is attributed to technological advancements, increasing demand for passenger cars, rapid urbanization, coupled with rising per capita income of the individuals in the Asia Pacific region.

Trailer Assist System Market Segmentation:

Segmentation on the basis of Vehicle Type:

• Passenger Car
• Light Commercial Vehicle (LCV)
• Truck

Segmentation on the Basis of User Type:

• Original Equipment Manufacturer (OEM) Fitted
• Aftermarket

Segmentation on the Basis of Component:

• Camera/Sensor
• Software Module

Segmentation on the basis of Technology:

• Semi-autonomous
• Autonomous

Segmentation on the Basis of Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa