Tuesday, December 1, 2020

Automotive Intelligence Park Assist System Market Expected to Witness 6.3% CAGR during the Forecast 2018 to 2023

 

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.

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.

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Segmentation of Market: Automotive Intelligence Park Assist System

  • 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

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.

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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

Continued…               

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