Trailer Assist System Market

Global Trailer Assist System Market Size (2024 to 2029):

The global trailer assist system market is expected to reach USD 0.13 billion in 2024 and reach USD 0.23 billion by 2029, growing at a CAGR of 11.42% from 2024 to 2029.

The new trailer assist framework has the capacity to control a vehicle trailer framework from outside the automobile with more noteworthy perceivability and awareness by utilizing a wireless smart gadget that can be used to remotely execute reversing and parking activities from outside the automobile. During the remote operation, to control low-speed controlling, moving, braking, and increasing speed, the driver can utilize a keen Android or iOS gadget to control the trailer assist framework. The vehicle manufacturers, together with aftermarket arrangement suppliers, are making every effort to create first-class trailer assist frameworks to reduce street mishaps. This framework is required to help drivers manage the powerful maneuvering of streets. A trailer assist framework is utilized to assist the driver with parking or reversing the automobile with a towing trailer at the back. This framework limits driving mistakes while sparing time. The trailer assist framework provides security and solace while reversing or parking the automobile. 

Global Trailer Assist System Market Drivers:

The expanding request for autonomous vehicles with security and solace highlights is a central point expected to multiply the development of the objective market in the years to come. Also, expanding the adoption of towing trailer automobiles in developed nations is another factor expected to increase the development of the global trailer assist framework market. Besides, the execution of trailer assist framework in passenger automobiles and light commercial automobiles and improvement in technologies are factors expected to help the development of the objective market in the following ten years.

Global Trailer Assist System Market Restraints:

Moreover, the use of towing trailers in developing nations is diminishing step by step, which is attributable to the expansion of the mishap. Likewise, the administration of South Africa fused specific guidelines and rules for towing trailers, which is likely to obstruct the development of the market.

REPORT COVERAGE:

This research report on the global trailer assist system market is segmented and sub-segmented Into the following categories.

Global Trailer Assist System Market - By Vehicle Type:

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

The passenger vehicles sector is relied upon to enlist the most noteworthy development in terms of income in the objective market attributable to expanding interest in the trailer assist framework in passenger vehicles.

Global Trailer Assist System Market - By User Type:

• Original Equipment Manufacturer (OEM) Fitted
• Aftermarket 

The OEM fitted fragment is relied upon to represent outstanding income share in the following ten years. Expanding interest in towing trailers is a factor expected to drive sector development of the market.

Global Trailer Assist System Market - By Component:

• Camera/Sensor
• Software Module 

The camera/sensor section is anticipated to enlist significant offers in terms of income in the objective market attributable to rising security measures. 

Global Trailer Assist System Market - By Technology:

• Semi-autonomous
• Autonomous

The Autonomous section is likely to enroll the most elevated development in terms of income in the objective market attributable to expanding activities and headway in innovation. 

Global Trailer Assist System Market – By Region:

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

North America is relied upon to offer an excellent chance to the global trailer assist system market during the estimated time frame from 2020 to 2027. The area with enough spending limit on vehicle customization is probably going to offer extensive development opportunities for the market in the forecast period. The US and Canada are both probably going to play a significant role in initiating the development of the worldwide trailer assist framework market. Western Europe is foreseen to hold the most important piece of the overall industry during the estimated period because of some of the notable key players in the area and developed economies. For example, Germany and France are doing quick up-gradation in car segments that came about to the most noteworthy development and interest in this innovation. In the Asia Pacific, nations like China and India are witnessing the expanded sale of vehicles, which is predicted to offer valuable opportunities to the market. Latin America is foreseen to follow the Asia Pacific over the expected time frame. The Middle East and Africa area is likely to have a reasonable offer in the trailer assist system market when contrasted with different locales.

KEY MARKET PLAYERS:     

Continental AG, Robert Bosch GmbH, WABCO Holdings Inc, TowGo, LLC, Valeo, Garmin Ltd., Cogent Embedded Inc., Echomaster, Ford Motor Company, Carit Automotive GmbH & Co. K, Volkswagen AG, Delphi Automotive, Siemens AG, ZF Friedrichshafen AG, Westfalia Ltd., Hella KGaA Hueck & Co., Hitachi, Ltd., Magna International Inc., Land Rover. Some of the market players dominate the global trailer assist system market.

RECENT DEVELOPMENTS IN THE MARKET:

• Trailer Reverse Assist – utilizes an Intelligent Rear Camera Module for an improved survey and trailer location. The trailer can be controlled with a control handle from inside the automobile. Alternatively, a remote tablet/intelligent gadget can be utilized to execute backing and parking activities from outside the car remotely.
• Tow Assist™ highlights antilock braking (ABS) for trailers. ABS, which keeps the wheels from locking during braking and guarantees that the automobile stays steerable as it is brought to a snappy and safe stop, has been a standard component in passenger automobiles in the United States since 2013. Presently, with Tow Assist™, the innovation is accessible in trailers to assist in maintaining control during braking.
• WABCO Holdings Inc. presented a coordinated Active Lateral Safety innovation suite to assist fleets with diminishing mishaps and increment driver control and solace in a full scope of working situations. The new suite incorporates the organization's reality class dynamic steering innovation with two Advanced Driver Assistance Systems (ADAS) to build up a thorough case of security around the vehicle.