Automotive Intelligence Park Assist System Market Growth, Key Players, Analysis and Forecast to 2023
Market Highlights
Computer processor, sensors, andcamera are the essential components of intelligence park assist systems used invehicles. The use of intelligence park assist system helps to enhanceperformance, safety, tracking parking areas, and driving experience. The mainfeatures of automotive intelligence park assist systems allows parallel orreverse parking. Furthermore, the system is set in such a way that, as soon asthe steering wheel is touched or brakes firmly pressed, the automatic parkingdisengages i.e. the vehicle cannot exceed the set speed.
The increasing demand forsemi-autonomous vehicles, increasing concern over driver and vehicle safety,lack of parking space, and the increasing adoption of sensors and cameras inpassenger and commercial vehicles are considered as the key driving factors forthe growth of this market. The growing support from governments of variouscountries to reduce road accident is set to accelerate the growth of thismarket during the study period.
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Market Research Analysis
In terms of region, the globalmarket for the AutomotiveIntelligence Park Assist Systems Market is segmented into North America,Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region isestimated to hold the largest market share during the forecast period owing togrowing production of automobiles in China, India, Kores, and Japan. Moreover,growing population, and rising purchasing power of people are expected to boostthe demand for automotive intelligence park assist systems market in thisregion. Furthermore, the growing industrilization and infrastructuredevelopment across the region accelerate the growth of this market.
Europe is estimated to grow at asteady rate in automotive intelligence park assist systems market duringforecast period. This region is home to some of the key players such as SiemensAG (Germany), Valeo (France), Robert Bosch GmbH (Germany), and ZF FriedrichshafenAG (Germany)are contributing in the growth of this market.
Scope of the Report
This study provides an overviewof the global automotive intelligence park assist systems market, tracking fourmarket 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 theWorld. The report also provides a forecast, focusing on the market opportunitiesfor the next five years for each region. The scope of the study segments theglobal automotive intelligence park assist systems market by technology,component, vehicle type, and region.
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By Technology
Autonomous Parking Assistance
Semi-Autonomous ParkingAssistance
By Component
Ultrasonic Sensor
Camera
Ultrasonic Sensor & Camera
By Vehicle Type
Passenger Car
Commercial Vehicle
By Regions
North America
Asia-Pacific
Europe
Rest of the World
Key Players
The prominent players in theglobal automotive intelligence park assist system include Siemens AG (Germany),Valeo (France), Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany),Magna International (Canada), Continental AG (Germany), NXP Semiconductors(Netherlands), Toshiba Corporation (Japan), HELLA GmbH & Co. KGaA(Germany), and Delphi Automotive (Germany).
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