Automotive Intelligence Park Assist System Market
Global Automotive Intelligence Park Assist System Market is expected to witness significant growth during the forecast period
Market Research Future published a Half Cooked Research Report Global Automotive Intelligence Park Assist SystemMarket that contains the information from 2018 to 2023. The Global Automotive Intelligence Park Assist System Market is expected to progress with the CAGR of ~6.3% from 2018 to 2023.
Taste the market data and market information presented through more than 100 market data tables and figures spread in 88 numbers of pages of the project report. Avail the in-depth table of content & market synopsis on “Global Automotive Intelligence Park Assist System Market Information from 2019 to 2023″
Automotive Intelligence Park Assist System Market Overview
The automotive intelligence park assist system uses computer processor comprised of ultrasonic system, camera, and electromagnetic system, which plays a crucial role to assist the drivers in parking their vehicle safely by tracking parking area and increasing power density. Vehicles equipped with intelligence park assist systems can steer themselves into a parking space with minimum input from the driver. To enhance vehicle efficiency, safety, and performance the automotive intelligence park assists system solution providers and automotive OEMs are working together for reducing the rate of road accidents worldwide.
Growth Factor
The key factor driving the growth of this market is growing demand for advanced safety, convenience, and comfort systems. Furthermore, rise in demand for autonomous park assist technology is set to drive the global automotive intelligence park assist system market. The growing adoption of ADAS system in passenger vehicles will further boost the growth of this market.
Increased investments in new product development are expected to enable strategic mergers and acquisitions of small startups in this market, which will further enhance the global market during the forecast period. However, the major restraints for the global automotive intelligence park assist system market is increasing cost of the vehicle due to adoption of different assistance systems and integration process for advanced vehicles.
The global Automotive Intelligence Park Assist System Market is estimated to witness ~6.3% CAGR during the period from 2018 to 2023.
The global automotive intelligence park assist system market is segmented on the basis of technology, component, and region. On the basis of technology, the market has been segmented into autonomous and semi-autonomous parking assist. On the basis of component, the market has been segmented into ultrasonic sensor, camera, and Ultrasonic Sensor & Camera. On the basis of vehicle type, the market has been segmented into passenger car and commercial vehicle.
By technology, the semi-autonomous segment is projected to witness a significant growth during the study period. This growth is attributed to the growing adoption of safety solutions such as active safety and driver assistance systems in automobiles. In addition, the increasing collaboration of automotive safety and automotive camera manufacturers is also contributing to the growth of this market.
Automotive Intelligence Park Assist System Market Segmentation
On the basis of vehicle type, the passenger car segment is projected to hold the larger share in the automotive intelligence park assist system market from 2018 to 2023. This growth is attributed to the growing use of software and electronic content in passenger cars.
On the basis of component, the ultrasonic sensor and camera segment is projected to witness faster growth during the review period. The ultrasonic sensors are based on the principle of sound waves, which helps to quantity the distances to nearby objects via sensors and camera located in the front and rear bumper. Hence, the demand for ultrasonic sensor and camera is growing.
Key Players:
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).
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Report Overview:
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the necessary assessment of the competitive scenarios and strategies in the global Automotive Intelligence Park Assist System market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis.
