Global Automotive Parking Assistance System Market is Expected to Reach an Estimated $2.1 Billion by 2023
Trends, opportunities and forecast in automotive parking assistance system market to 2023 by component type (camera and ultrasonic sensors), by vehicle type (SUVs and crossovers, large cars, mid-size cars, and others), end user (OEM and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World)
The future of the global automotive parking assistance system market looks promising with opportunities for SUVs and crossovers, large cars, and mid-size cars. The global automotive parking assistance system market is expected to reach an estimated $2.1 billion by 2023 and it is forecast to grow at a CAGR of 15.9% from 2018 to 2023. The major drivers of growth for this market are increasing demand for assisted driving in constrained environments, and rising focus on safety and convenience, leading the OEMs to integrate the parking assistance systems into their vehicles.
Emerging trends, which have a direct impact on the dynamics of the automotive parking assistance system industry, include the introduction of valet parking systems, adoption of LiDAR in parking assist systems, and the development of parking assistance systems for autonomous driving.
A total of 151 figures / charts and 128 tables are provided in this 232-page report to help in your business decisions
The study includes the market size and forecast for the global automotive parking assistance system market through 2023, segmented by component type, vehicle type, end user, and region, as follows:
Automotive Parking Assistance System Market by Component Type ($ Million and Thousand Units from 2012 to 2023)
- Camera
- Ultrasonic Sensors
Automotive Parking Assistance System Market by Vehicle Type ($ Million and Thousand Units from 2012 to 2023)
- SUVs and crossovers
- Large Cars
- Mid-size Cars
- Others
Automotive Parking Assistance System Market by End Use ($ Million and Thousand Units from 2012 to 2023)
- OEM
- Aftermarket
Automotive Parking Assistance System Market by Region ($ Million and Thousand Units from 2012 to 2023)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- Russia
- United Kingdom
- Asia Pacific
- China
- Japan
- South Korea
- India
- Indonesia
- The Rest of the World
- Brazil
- Argentina
Some of the automotive parking assistance system companies profiled in this report include Continental AG, Robert Bosch GmbH, Denso Corporation, ZF TRW Automotive Holdings Corporation, and Delphi Automotive PLC and others.
On the basis of its comprehensive research, Lucintel forecasts that the camera segment will show above average growth during the forecast period.
By vehicle type, SUVs and crossovers, large cars, and mid-size cars are the major segments of the automotive parking assistance system market. The SUV and crossover segment is expected to show above average growth during the forecast period.
North America is expected to remain the largest region due to increasing vehicle production, government regulations for vehicle safety features, and increasing investment by the industry players within the North America region. Europe and North America are expected to witness significant growth over the forecast period because of rapidly increasing demand for advanced and high performance parking assistance systems.
Some of the features of “Automotive Parking Assistance System Market Report: Trends, Forecast and Competitive Analysis” include:
- Market size estimates: Global automotive parking assistance system market size estimation in terms of value ($M) volume (Thousand Units) shipment.
- Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by segments and region.
- Segmentation analysis: Global automotive parking assistance system market size by various applications such as component, vehicle, and end user in terms of value and volume shipment.
- Regional analysis: Global automotive parking assistance system market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth opportunities: Analysis on growth opportunities in different applications and regions of automotive parking assistance system in the global automotive parking assistance system market.
- Strategic analysis: This includes M&A, new product development, and competitive landscape of pharmaceutical packaging in the global automotive parking assistance system market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive parking assistance system market by component type (camera and ultrasonic sensors), by vehicle type (SUVs and crossovers, large cars, mid-size cars, and others), end user (OEM and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this automotive parking assistance system market?
Q.5. What are the business risks and competitive threats in this automotive parking assistance system market?
Q.6. What are the emerging trends in this automotive parking assistance system market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the automotive parking assistance system market?
Q.8. What are the new developments in the automotive parking assistance system market? Which companies are leading these developments?
Q.9. Who are the major players in this automotive parking assistance system market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this automotive parking assistance system market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activities have occurred in the last 5 years and what impact have they had on the automotive parking assistance system industry?
Table of Contents
1. Executive Summary
*Full List of Tables and Figures Available on Enquiry.
Samples
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Companies Mentioned
- Continental AG
- DELPHI Automotive PLC
- Denso Corporation
- Magna International Inc.
- Robert Bosch GmbH
- Valeo SA
- ZF TRW Automotive
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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