Global Automotive Intelligence Park Assist System Market, By Component (Ultrasonic Sensor, Camera, Ultrasonic Sensor and Camera), Technology (Autonomous Parking Assist, Semiautonomous Parking Assist), Vehicle Type (Passenger Car, Commercial Vehicles), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Automotive Intelligence Park Assist System Market
The automotive intelligence park assist system market is expected to witness market growth at a rate of 5.80% in the forecast period of 2021 to 2028. Data Bridge Market Research report on automotive intelligence park assist system market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increasing popularity of vehicle electrification is escalating the growth of automotive intelligence park assist system market.
Automotive intelligence park assist system which is also known as advanced parking guidance system (APGS) refers to a system surrounded by electronic components including sensors, ICE and electrical vehicles. These systems assist in parking the vehicle safely as they track the parking area with the help of various power components such as semiconductors. This system consists of onboard computer utilizing the camera positioned at the front and rear sides of the car along with sensors fixed at the same locations monitoring the proximity of nearby vehicles. The sensors are electromagnetic or ultrasonic are used to alert the driver regarding obstacle while parking the vehicle.
The growth in commercial sectors globally and the increasing use of wide angle camera technology in vehicles are the major factors driving the automotive intelligence park assist system market. The rising adoption of automotive intelligence park assist system technology in vehicles by the manufacturers, availability of skilled workforce and the benefit of power savings offered by the system influence the automotive intelligence park assist system market. The rise in demand for autonomous and semi-autonomous parking systems owning to their complex designs and the increase in the trend of vehicle electrification accelerate the automotive intelligence park assist system market growth. Additionally, the high competition scenario among service providers, initiatives taken by the government towards the employment of safety systems in automobiles and increase in disposable income of population positively affects the automotive intelligence park assist system market. Furthermore, technological advancement and designing along with the development of automotive intelligence park assist system technology in accordance with guidelines set by the government authorities extend profitable opportunities to the automotive intelligence park assist system market players in the forecast period of 2021 to 2028.
On the other hand, the lacks of protocols for the development of the system and issues with the complexity of the system are factors expected to obstruct the automotive intelligence park assist system market growth. The concerns regarding the battery life of the system, accuracy requirements and the absence of ferromagnetic parts are factors projected to challenge the automotive intelligence park assist system market in the forecast period of 2021 to 2028.
This automotive intelligence park assist system market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on automotive intelligence park assist system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Automotive Intelligence Park Assist System Market Scope and Market Size
The automotive intelligence park assist system market is segmented on the basis of component, technology and vehicle type. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the automotive intelligence park assist system market is segmented into ultrasonic sensor, camera and ultrasonic sensor and camera.
- On the basis of technology, the automotive intelligence park assist system market is segmented into autonomous parking assist and semiautonomous parking assist.
- On the basis of vehicle type, the automotive intelligence park assist system market is segmented into passenger car and commercial vehicles.
Global Automotive Intelligence Park Assist System Market Country Level Analysis
The automotive intelligence park assist system market is analyzed and market size, volume information is provided by country, component, technology and vehicle type as referenced above.
The countries covered in the global automotive intelligence park assist system market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the automotive intelligence park assist system market during the forecast period of 2021 to 2028 because of the presence of leading manufacturers and developed automotive technology in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Intelligence Park Assist System Market Share Analysis
The automotive intelligence park assist system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive intelligence park assist system market.
The major players covered in the automotive intelligence park assist system market report are Robert Bosch GmbH, ZF Friedrichshafen AG, BorgWarner Inc., Continental AG, Siemens, Magna International Inc., VALEO, HELLA GmbH & Co. KGaA, Clarion, NXP Semiconductors, Toshiba Corporation, AISIN SEIKI Co., Ltd., Aptiv, DENSO CORPORATION, HYUNDAI MOBIS, Panasonic Corporation, Park Assist, Amano Corporation, Kapsch Group, TKH GROUP among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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