Trailer Assist System Market

Analysis by User (Original Equipment Manufacturer (OEM) and Aftermarket); by Technology {Semi-Autonomous (L3), Autonomous (L4, L5)}; by Component (Camera/Sensor and Software Module); and by Vehicle Type {Passenger Vehicle (PV), Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV)} – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 4418 | Published On: Feb 13, 2023
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Major Macro-Economic Indicators Impacting the Market Growth


The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

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Global Trailer Assist System Market: Growth Drivers and Challenges

Growth Drivers

  • Upsurge in the Number IoT Connected Vehicles – as transportation is becoming increasingly connected with more sensors, more data and more insights. There is rise in the demand for trailer assist systems to help trucking and logistics providers operate more efficiently. It was found that, out of ~31 billion global connected devices in 2018, over 900 million devices are in automotive and transportation.

  • Growing Number of Cars – are responsible for rising demand of trailer assist systems as it provides backup assist features while navigating into a parking space. The increasing demand of cars is expected to escalate the trailer assist systems market in the forecasted period. It was estimated that, there are over 1.400 billion cars as of 2022.

  • Increasing Incidences of Motor Vehicle Crash – which according to the U.S. Department of Transportation, National Highway Traffic Safety Administration statistics, was responsible for ~ 35,766 deaths in United States in 2020.
  • Rising Number of Semi-Trailers - for instance, there were approximately 3 million registered semi-trailers in the European trailer fleet in 2019.
  • Rising Research & Development (R&D) Spending in the Automotive Sector – it was found that in 2020, the global R&D spending was recorded USD 135 billion in the automotive sector.


  • High Cost of the Trailer Assist System
  • Lesser Penetration of the Towing Trailers
  • Government Regulations Regarding the Reverse Parking Assistance Systems

The global trailer assist system market is segmented and analyzed for demand and supply by component segment into camera/sensor and software module. Amongst these segments, the camera/sensor segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing advancements in electronic control unit along with the surge in the demand for automotive sensors worldwide. For instance, the global automotive sensors total unit sales are projected to hit over 11 billion by 2023.

Global Trailer Assist System Market Regional Synopsis

Regionally, the global trailer assist system market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Europe is projected to hold the largest market share by the end of 2033, backed by the flourishing camping industry in the region, along with rising number of car caravans & caravans along with upsurge in the number of people going for caravanning. For instance, in United Kingdom, more than 5 million caravans are in use, with over 2 million people taking holidays in caravans every year.


The global trailer assist system market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

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Top Featured Companies Dominating the Global Trailer Assist System Market

    • Magna International Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Daimler Truck Holding AG
    • Robert Bosch GmbH
    • Carit Automotive GmbH & Co. KG
    • BorgWarner Inc.
    • Ford Motor Company
    • Hitachi, Ltd.
    • Jaguar Land Rover Automotive plc.
    • General Motors
    • DornerWorks, Ltd.  


In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the trailer assist system market?

Ans: Increasing R&D spending in the automotive sector as well as growing sales of light vehicles along with rising demand for automotive sensors are some of the major factors anticipated to drive the growth of the market.

2) What would be the CAGR of trailer assist system market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the trailer assist system market growth?

Ans: High cost of the trailer assist system as well as lesser penetration of the towing trailers are some of the factors estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of trailer assist system market in future?

Ans: The market in Europe is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the trailer assist system market?

Ans: The major players in the market are Robert Bosch GmbH, Carit Automotive GmbH & Co. KG, BorgWarner Inc., Ford Motor Company, Hitachi, Ltd., Jaguar Land Rover Automotive plc., Magna International Inc., Daimler Truck Holding AG, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the trailer assist system market?

Ans: The market is segmented by user, technology, component, vehicle type and by region.

8) Which segment captures the largest market size in component segment in the trailer assist system market?

Ans: The camera/sensor segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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