Automotive Intelligence Park Assist System Market: An Overview
Parking Assist Systems helps
drivers easily park the crowded parking lots in order to avoid hanging and
collisions. The parking assist system is an essential application of the car
active collision avoidance system in low-speed and urban complex environments
and it is also an intelligent embodiment of the car active collision avoidance
system. The emergence of parking assist systems supports easier parking. The
growth of the market has been from simple assistance to integrated automatic
parking. The Global Automotive intelligence parking assist systems market is
expected to be valued worth USD 30 billion by 2026, reporting a CAGR of over 7
per cent during the forecasted period from 2020-2026.
Automotive Intelligence Park Assist System Market: Market Dynamics
Automotive Intelligence Park
Assist System is also known as Advanced Parking Guidance system (APGS) in some
countries. It is a system surrounded by electronic components such as ICE,
Sensors and electrical Vehicles. The automotive Intelligence park assist system
provides physical regulations for various power components like semiconductors
and helps to park the vehicle safely by tracking the parking area. The
automotive intelligence park assist system comprises of onboard computer used
camera fixed into the front and rear sides of the car and sensors positioned at
similar locations notice the proximity of nearby vehicles. The sensors are
electromagnetic or ultrasonic and are designed to alert the driver from
obstacles while parking.
The major driving factor
responsible for the growth of this market are developing commercial sectors
globally, increasing uses of wide angle camera technology in vehicles and
rising trend of vehicle electrification and the government initiative to reduce
road accidents. Growing demand for autonomous and semi-autonomous parking
systems, complex design of the system and automotive intelligence park systems are
few of the other factors driving the growth of the market in 2019. Rising
number of manufacturers integrating intelligence park assist systems technology
in vehicles, power savings and skilled labor are key factors that can support
the expansion of the Global Automotive Intelligence Park Assist System Market
in the forecasted period. Another major key factor considered for the growth of
the market is the growing competition between Automotive Intelligence Park
Assist System service providers and increasing support from the local
government to employ safety systems in automobiles. These factors have
stimulated the global players to develop and design the Automotive Intelligence
Park Assist Systems as per the guidelines set by governing bodies operating in
automotive and semiconductor sector in various regions.
Automotive Intelligence Park Assist System Market: Market Segmentation
On the basis of Technology,
the global Automotive Intelligence Park Assist System Market can be classified
as Autonomous Parking Assist and Semi-autonomous Parking Assist. On the basis
of Component, the Global Automotive Intelligence Park Assist System Market can
be classified as Ultrasonic Sensor, Camera, Ultrasonic Sensor and Camera and on
the basis of Vehicle Type, the Global Automotive Intelligence Park Assist
System Market can be bifurcated as Passenger Car and Commercial Vehicles. In
2019, Autonomous parking assist segment has contributed the largest share to
the Global Automotive Intelligence Park Assist System Market owning to
advancement in automobile technology and requirement for safe vehicle parking.
Automotive Intelligence Park Assist System Market: Regional Landscape
North America, Europe,
Asia-Pacific, Middle East and Africa and Latin America are few of the key
regions where the Global Automotive Intelligence Park Assist System Market can
be witnessed. North America emerged as a leading regional market for Automotive
Intelligence Park Assist System Market in 2019 with a share of more than 35 per
cent. The growth of the region can be attributed to factors such as rise in
advanced automotive technology and the presence of global manufacturers in the
US. Another emerging area in the Global Automotive Intelligence Park Assist
System Market is Europe owing to presence of advanced components invention
centers in the region.
Automotive Intelligence Park Assist System Market: Key Market Players
Robert Bosch GmbH, ZF
Friedrichafen AG, Delphi Automotive LLP, Continental AG, Siemens AG, Magna
International, Valeo, Hella GmbH and Co. KGaA, Clarion, NXP Semiconductors and
Toshiba Corporation are few of the key players in the Global Automotive
Intelligence Park Assist System Market.
Questions Answer by the Report
How will the market drivers, restraints and
opportunities affect the market dynamics?
What will be the market size in terms of
value and volume and market statistics with a detailed classification?
Which segment dominates the market or region
and one will be the fastest growing and why?
A comprehensive survey of the competitive
landscape and the market participant players.
Analysis of strategy adopted by the key
player and their impact on other players.
Scope for the Client
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first and last priority and that’s why BlueWeave Consulting offers
customization according to company’s specific needs. The following
customization options are available for the report:
With five additional company detail analysis
Additional country analysis
Detailed segment analysis