Automotive Parking Sensor Market Overview:
Automotive parking sensors are specially designed proximity sensors that are fitted either on the front, rear or both ends of vehicles. They are a part of the Advanced Driver Assistance System (ADAS) and alert the driver of any obstacles while parking. These sensors also ensure optimum utilization of parking space, which can reduce the problem of parking space scarcity, slightly. Lack of parking spaces, especially in crowded cities due to overcrowding has been a cause of concern for many years. However, this challenge can be overcome by using a set of parking sensors, that come fitted with the vehicle via OEMs or can be installed in the aftermarket. Automotive Parking Sensors Market Size to Expand at a Notable CAGR Of 7.5% During 2019 – 2023.
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Key Players in This Market are:
The prominent players in the global Automotive Parking Sensors Market include Robert Bosch GmbH (Germany), Aptiv PLC (Greece), Denso Corporation (Japan), NXP Semiconductors N.V. (the Netherlands), Valeo (France), Autoliv Inc. (Sweden), Gentex Corporation (U.S.), Continental AG (Germany), TGS Group (UK) and Murata Manufacturing Co., Ltd. (Japan).
Scope of the Report
This study provides an overview of the global Automotive Parking Sensors Market, tracking five market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
The global automotive parking sensors market is segmented on the basis of type, technology, sales channel, vehicle type and region.
On the basis of type, the market has been segmented reverse parking sensors, front parking sensors and others.
On the basis of technology, the market has been segmented into Ultrasonic sensors, Electromagnetic sensors, Infrared sensors, Laser and Others.
On the basis of the sales channel, the market has been segmented into OEM and aftermarket.
By vehicle type, the market is segmented into passenger cars, LCV and HCV.
Geographically, the global Automotive Parking Sensors market has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the Rest of the World. Europe is estimated to account for a significant market share in the global automotive parking sensors market. The market in this region is dominated by major automobile manufacturing countries such as Germany and France. Besides, stringent regulations regarding pedestrian safety have compelled automotive OEMs to install safety features such as parking sensors in vehicles.
The market in the Asia pacific region is projected to grow at the highest CAGR over the forecast period. This region is home to some of the emerging countries such as China and India, where the demand and production of automobiles is on the rise. Also, due to high population, these countries have a perennial problem of parking spaces, which has further increased the importance of features such as parking sensors. Growing disposable incomes and increase in middle class population with awareness regarding vehicle and pedestrian safety have also played key roles in the growth of the market in this region.
Table of Contents
1. Executive Summary
2. Scope of The Report
2.1. Market Definition
2.2. Scope of The Study
2.2.2. Research Objective
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat of New Entrants
3.1.2. Bargaining Power of Buyers
3.1.3. Threat of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power of Buyers
3.2. Value Chain/Supply Chain Analysis
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