New study titled “Automotive Parking Sensor Market: Global Industry Trend Analysis 2012 to 2017 and Forecast 2017 – 2025” presents a comprehensive regional assessment and detailed segmental analysis
Automotive Parking Sensor Market: Introduction
Automotive Parking sensor is proximity sensor that is integrated with driver assistance system and acknowledge the driver with required information on the proximity of the automobile to an object. Automotive Parking Sensor also provide safety to an automobile and information to the driver on the availability within the designated area. Automotive Parking Sensor gives better driving experience and enhance the rear view of the driver. There are basically two types of parking sensors ultrasonic and electromagnetic. In ultrasonic sensor using the ultrasonic wave and an electronic control unit to detect the obstacle in the back and rear side of the vehicle while electromagnetic sensor utilize magnetic waves to detect obstructions.
Automotive Parking Sensor Market: Market Dynamics
Automotive Parking Sensor Market is projected to boost the growth due to increase in demand for drive assistance sensors and aftermarket sales of parking Sensors of automobiles. The increasing impact of new car assessment program (NCAP) is one of the main factor that accelerate the growth of global automotive Parking Sensor market in the future. Rising demand of passenger cars incorporated with increasing awareness of the people toward safety, in turn, boost the sales and demand of automotive Parking Sensor. This factor will fuel the growth of automotive Parking Sensor market. Increasing demand of driver assistance systems as well as demand of advanced technologies in the automobiles are some other factors that lifted the automotive Parking Sensor market. Moreover, some insurance company offer insurance premium discount for vehicles equipped with advanced technologies. This factor is anticipated for the growth of the automotive parking sensor market. Government of several countries across the globe started implementing stringent safety regulations regarding automobiles that mandate the development and adoption of these systems.
High initial and installation cost of automotive Parking Sensors in automobiles as well as high replacement cost associated with automotive parking sensors can act as a restraint to the sales of the automotive Parking Sensor in the market. Moreover, rising prices of vehicles along with high cost incurred in design and testing is also estimated to hinder the growth of said market in the future. Over dependency of safety system is impacting the driving skills that is also a challenge for the automotive parking sensor market.
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Automotive Parking Sensor Market: Segmentation
Automotive Parking Sensor Market can be segmented by technology, vehicle type, sales channel:-
On the basis of technology it can be segmented into: Electromagnetic Ultrasonic
On the basis of vehicle type it can be segmented into: PC (Passenger Cars) LCV (Light Commercial Vehicles) HCV (Heavy Commercial Vehicles)
On the basis of sales channel it can be segmented into: OEM After Market
Automotive Parking Sensor Market: Regional Outlook
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Asia Pacific is expected to contribute considerable share throughout the forecast period, owing to increasing disposable income of the middle class population with high living standard as well as increasing number of automobile sales. These factors are estimated to boost the demand for automotive Parking Sensor market in the upcoming years. Europe also holds a prominent share for the automotive Parking Sensor market due to large number of automobile manufacturers in the region. Furthermore, North America is expected to dominate the automotive Parking Sensor market, owing to increasing demand for luxury vehicles in U.S. and Canada. This factor is coupled with increasing installation of advanced driver-assistance systems (ADAS) in the same. The Latin America, Middle East and Africa are projected to increase the demand of automobiles, owing to increasing urbanization and economic growth, which in turn, accelerate the growth of automotive parking sensor market in the forecast period.
Automotive Parking Sensor Market: Market Participants
Examples of some of the market participants identified across the value chain of the global automotive Parking Sensor market includes: Autoliv Inc. Valeo Inc. Gentex Corporation DENSO Corporation Delphi Automotive LLP Abbott Analog Devices Inc. Continental AG. Freescale Semiconductor Ltd. Robert Bosch GmbH NXP Semiconductors N.V. Texas Instruments Inc. Ford Motor Company
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on: Market Segments Market Dynamics Market Size Supply & Demand Current Trends/Issues/Challenges Competition & Companies involved Technology Value Chain
Regional analysis includes: North America (U.S., Canada) Latin America (Mexico. Brazil) Western Europe (Germany, Italy, France, U.K, Spain) Eastern Europe (Poland, Russia) Asia Pacific (China, India, ASEAN, Australia & New Zealand) Japan Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights: Detailed overview of parent market Changing market dynamics in the industry In-depth market segmentation Historical, current, and projected market size in terms of volume and value Recent industry trends and developments Competitive landscape Strategies of key players and products offered Potential and niche segments, geographical regions exhibiting promising growth A neutral perspective on market performance Must-have information for market players to sustain and enhance their market footprint
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