Global Automotive Parking Assistance System Market Set for a Positive Growth Forecast at CAGR of 15.9% till 2023
Bharat Book Bureau Provides the Trending Market Research Report on “Automotive Parking Assistance System Market, Forecast to 2018” under Industry & Mfg category. The report provides information on industry overview, market size, latest developments, industry trends, Key Manufacturers, global presence, and their future prospects.
The future of the Global Automotive Parking Assistance Systemmarket 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 $2.1 billion by 2023 and it is forecast to grow at a CAGR of 15.9% from 2018 to 2023. The major drivers of growth for this market are increasing demand for assisted driving in constrained environments, and rising focus on safety and convenience, leading the OEMs to integrate the parking assistance systems into their vehicles.
Emerging trends, which have a direct impact on the dynamics of the automotive parking assistance system industry, include the introduction of valet parking systems, adoption of LiDAR in parking assist systems, and the development of parking assistance systems for autonomous driving.
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By vehicle type, SUVs and crossovers, large cars, and mid-size cars are the major segments of the automotive parking assistance system market. The SUV and crossover segment is expected to show above average growth during the forecast period.
North America is expected to remain the largest region due to increasing vehicle production, government regulations for vehicle safety features, and increasing investment by the industry players within the North America region. Europe and North America are expected to witness significant growth over the forecast period because of rapidly increasing demand for advanced and high performance parking assistance systems.
Some of the features of “Automotive Parking Assistance System Market Report: Trends, Forecast and Competitive Analysis” include:
Market size estimates: Global automotive parking assistance system market size estimation in terms of value ($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.
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