Automotive Intelligence Park Assist System Market Size to Expand at a Notable CAGR of 6.3% During 2019 - 2023
Automotive Intelligence Park Assist System Market Overview:
Computer processor, sensors, and camera are the essential components of intelligence park assist systems used in vehicles. The use of intelligence park assist system helps to enhance performance, safety, tracking parking areas, and driving experience. The main features of automotive intelligence park assist systems allow parallel or reverse parking. Furthermore, the system is set in such a way that, as soon as the steering wheel is touched or brakes firmly pressed, the automatic parking disengages i.e. the vehicle cannot exceed the set speed.
The increasing demand for semi-autonomous vehicles, increasing concern over driver and vehicle safety, lack of parking space, and the increasing adoption of sensors and cameras in passenger and commercial vehicles are considered as the key driving factors for the growth of this market. The growing support from governments of various countries to reduce road accident is set to accelerate the growth of this market during the study period.
Automotive Intelligence Park Assist System Market Size To Expand at a Notable CAGR Of 6.3% During 2019 - 2023
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The prominent players in the global automotive intelligence park assist system include Siemens AG (Germany), Valeo (France), Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Magna International (Canada), Continental AG (Germany), NXP Semiconductors (Netherlands), Toshiba Corporation (Japan), HELLA GmbH & Co. KGaA (Germany), and Delphi Automotive (Germany).
Scope of the Report
This study provides an overview of the global automotive intelligence park assist systems market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
Global Automotive Intelligence Park Assist Systems Market by technology, component, vehicle type, and region.
Autonomous Parking Assistance
Semi-Autonomous Parking Assistance
Ultrasonic Sensor & Camera
By Vehicle Type
Rest of the World
Geographically, the Global Automotive Intelligence Park Assist System Market has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is estimated to hold the largest market share during the forecast period owing to the growing population, lack of parking space, and changing the lifestyle of consumers across the region. Moreover, increased uses of electrification in vehicles is expected to boost the demand for automotive intelligence park assist system in this region. Furthermore, the rise in demand for safety features in vehicles and increasing investment by public and private players to develop automobile sector inbuilt with advance technology such as IoT, AI, ADAS, Sensors and other systems, are contributing in the growth of this market in this region.
The major driving factors responsible for the growth of this market are developing commercial sectors globally, increase in traffic flow, increasing uses of wide-angle camera technology in vehicles, rising trend of vehicle electrification, and the government initiative to reduce road accidents. Growing demand for autonomous and semi-autonomous parking systems, growing population, and improving the economy in emerging nations are providing enough opportunity growth of this market.
Table of Content
1. Executive Summary
1.1. Market Attractiveness Analysis
1.1.1. Global Counter UAS Market, By Type
1.1.2. Global Counter UAS Market, By Platform
1.1.3. Global Counter UAS Market, By End-User
1.1.4. Global Counter UAS Market, By Region
2. Market Introduction
2.1. Market Definition
2.2. Scope of The Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Market Factor Indicator Analysis
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
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Name: Vaibhav Hulsure
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Organization: Market Research Future
Release ID: 505876