Trailer Assist System Market Analysis

Component Type (Camera/Sensor, Software Module)

The camera/sensor segment is set to account for more than 71% trailer assist system market share by the end of 2037. This segment growth is owing to the surging demand for extremely high-precision sensors and cameras that offer far greater safety while performing towing operations. Sensors and cameras provide real-time feedback to the drivers, thereby enabling them to make effective decisions while reversing or maneuvering trailers. In May 2022, Magna introduced advanced camera and control units supporting 3D displays and surround view, which granted this component type stronger market dominance. The trailer assist system technology has become increasingly important for both commercial and passenger vehicles since it greatly reduces the chances of accidents during towing.

Vehicle Type (Passenger Vehicle, LCV, Trucks)

By 2037, passenger segment is anticipated to dominate over 55% trailer assist system market share, as their sales are foreseen to include augmented towing capabilities. Rising recreational activities such as camping and boating is driving demand for greater towing capacity in SUVs and pickup trucks. These, together with the inclusion of trailer assist systems in those vehicles, will further contribute to the segment growth. Additionally, development in safety and driver assistance systems will make the trailer assist feature more affordable and acceptable for a wide range of vehicle owners. This is further supported by a trend where automakers are leaning toward convenience and ease of use, especially in long-distance travel and outdoor adventure vehicles.

Our in-depth analysis of the trailer assist system market includes the following segments