Industry Insight
According to Market Research Future (MRFR), the Automotive Intelligence Park Assist System Market is projected to touch a valuation of US$22.30 Billion by 2023, growing at 6.3% CAGR throughout the forecast period (2018-2023). At this pace, the opportunities in the worldwide Automotive Intelligence Park Assist System market are estimated to swell up with high valuation by the end of the year 2023.
Top Impacting Factors: Automotive Intelligence Park Assist System
The study signifies that a significant rise in the traffic flow has led to a substantial rise in the number of road accidents, which is influencing the global automotive intelligent park assist systems market remarkably. Also, with the rising concerns among people over safety and comfort across the globe, automobile manufacturers are encouraged to combine automotive intelligent park assist systems into the vehicles and resulting in a massive rise in the demand for automotive intelligent park assist systems worldwide.
Furthermore, some more essential factors came into light while evaluating the market and its prospects, is that mounting uses of wide-angle camera technology in vehicles, rising trend of vehicle electrification, and some government initiatives to reduce road accidents have also been responsible in shaping the future of the market. In fact, the growing demand for autonomous and semi-autonomous parking systems, improving the economy in emerging nations, and growing population are also providing enough opportunity of growth to this market so that it can gain more and more shares in the coming years.
Despite these factors, the market for Automotive Intelligence Park Assist System could hit by some restraints while growing owing to factors such as lack of skilled drivers, lack of standard protocols, and sophisticated design of the system. Restrictive growth might occur during the years 2018 to 2023.
Top Market Contenders
The global automotive intelligence park assist system market is highly consolidated as each of the regional markets is led by some of the best market contenders. Valeo (France), Siemens AG (Germany), ZF Friedrichshafen AG (Germany), Robert Bosch GmbH (Germany), Continental AG (Germany), Magna International (Canada), Delphi Automotive (Germany) Toshiba Corporation (Japan), HELLA GmbH & Co. KGaA (Germany), NXP Semiconductors (Netherlands), are some of the prominent names listed in MRFR’s study.
Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7431
Segmentation of Market: Automotive Intelligence Park Assist System
From the viewpoint of the segmental study of the global Automotive Intelligence Park Assist System, various segments have been involved, such as technology and component.
- Depending on the technology segment, the market has been segregated into autonomous and semi-autonomous parking assist.
- Depending on the component segment, the market has been segregated into the camera, ultrasonic sensor, and Ultrasonic Sensor & Camera.
- Depending on the vehicle type, the market is segmented among the passenger car and commercial vehicle.
Regional Framework
From the viewpoint of the regional aspect, the global Automotive Intelligence Park Assist System has included vital regions of Europe, North America, Asia-Pacific, and the Rest of the World.
The region of North America, by the study, emerged as the leading regional market for automotive intelligence park assist systems back in 2016 and has a share of more than 32%. Researchers expect the scenario to remain similar in future timeframe. The uptake of advance automotive technology and the existence of global manufacturers in the U.S. will further boost this regional market substantially.
Europe closely follows the region of North America with nearly the same market share. As Europe is known to the automotive hub, most of the advanced components find their invention centers located in European countries. With this, the level of acceptance towards advanced driver assistance systems is moderately higher in this region, which is giving the region a considerable boost to expand in the present time to witness a healthy valuation in the forecast period.
If you have any requirements, let know and we will customize the report according to your need.
FOR MORE DETAILS – https://www.marketresearchfuture.com/reports/automotive-intelligence-park-assist-system-market-7431
Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- Automotive intelligence park assist systems Market Segmentation
- Automotive intelligence park assist systems Market Landscape
- Vendor Matrix
- Company Profiles
- Business Overview
- Financial Data
- Product Landscape
Continued…
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Us
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: [email protected]
Also known as Advance Parking Guidance System (APGS) in some countries, these systems consist of onboard computer used camera fixed into the front and rear sides of the car and sensors, which help in measuring the proximity of nearby vehicles.
Electromagnetic or ultrasonic sensors present in these systems help to alert the driver in case of obstruction in parking.
Market Research Future (MRFR's) latest in-depth report on the global automotive intelligence park assist system provides meaningful insights on the market, which has been compiled after a thorough analysis of the pertinent factors impacting the market.
MRFR's analysis predicts the market to capture a moderate CAGR in the coming years.The use of intelligence park assist systems has increased considerably in recent years, owing to the high level of awareness about the benefits associated with them.
More intelligence park assist systems hinder the vehicle from exceeding the set speed during parking.
additionally, automotive OEMs are increasingly providing these systems in mid-range and low-range cars to ensure safety.
The new Automotive Intelligence Park Assist System Market report offers a comprehensive study of the current scenario of the market including major market dynamics.
Also, it highlights the in-depth marketing research with the newest trends, drivers, and segments with reference to regional and country.
Further, this report profiles top key players and analyze their market share, strategic development, and other development across the world.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Automotive Intelligence Park Assist System Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/automotive-intelligence-park-assist-system-market/download-sampleMarket DynamicsIncreased parking concerns worldwide, a surge in demand for IoT-based technologies, and an increase in the number of vehicles contribute to the automotive intelligence park assist system market's growth.
Increased government attempts to build smart cities worldwide, and increased investment in developing driverless vehicles are projected to fuel the market for automotive intelligence park assist systems.
The market's growth might get hampered due to high implementation costs and configuration complexity, and poor internet penetration in developing nations.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
