Trailer Assist System Market Trends

Growth Drivers

• Growing demand for safety inclusions: Safety has become one of the prime concerns for vehicle manufacturers to decrease the chances of accidents occurring with or involving trailers. The use of active trailer assist systems grants more control over maneuverability, boosting towing safety by a great margin. One example is the launch of Magna's next-generation cameras and electronic control units that supply surround and 3D views for enhanced trailer safety on the 2022 Toyota Tundra in May 2022. This kind of emphasis on safety will top the charts in driving trailer assist system market as consumers and businesses begin to pay close attention to technologies that can minimize human error.
• Growing commercial applications: The adoption of the trailer assist system is growing in commercial vehicles due to the adoption of fleets with telematics and trailer connectivity technologies for more operational efficiency and safety. For instance, Phillips Connect estimated during the American Transportation Association Fall Meeting in 2022 that 70% of new trailers would be penetrated by some form of telematics in 2025 and over 80% in the following five years. The integration of the trailer assist system with telematics gives fleet operators more diagnostic and close monitoring of trailers, hence pushing up the rate of adoption in the commercial segment.
• Automating Solutions with AI: Automakers are incorporating sophisticated AI into trailer assist systems to accommodate seamless automation and driver burden minimization. In May 2021, Ford, in agreement with its vision, launched the Pro Trailer Hitch Assist modular AI-powered system that automatically aligns the hitch ball on trailers for seamless towing by users of the F-150 Lightning. These developments are anticipated to drive trailer assist system market growth, as AI-driven trailer assist systems guarantee the convenience and accuracy that is required by various consumers and commercial users.

Challenges

• Regulatory compliance and standardization: One of the major challenges in the trailer assist system market is the adoption of different regulatory standards in different regions. The U.S. Federal Motor Carrier Safety Administration enforces standards that include but are not limited to, the ELD mandate, further complicating the regulatory landscape of compliance. Such standards require manufacturers to be on their toes regarding updates and adaptability, which raises the entry barrier for small players.
• Installation and maintenance by skilled workforce: Another significant challenge is the shortage of skilled personnel that could install and maintain such advanced systems. A great extent of specialized training is also required in integrating trailer assist systems with in-vehicle technologies, such as AI-based solutions. According to industry reports, by 2023, there will be greater demand for ADAS installation technicians, with a majority of automotive firms lacking the capacity to keep pace with the ongoing development of trailer assist technology. This may lead to delays in the wide-scale adoption of such systems, especially in regions where skilled labor is at a premium.