Automotive Parking Sensor Market Overview:
Automotive safety features such as airbags, anti-lock braking systems, central locking and parking sensors have witnessed a tremendous demand over the last three to five years. Increase in awareness regarding safety and increase in spending power of consumers have been the major factors that have driver the demand for these safety features.
Automotive Parking Sensors Market Size to Expand at a Notable CAGR Of 7.5% During 2019 – 2023.
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Parking sensors, which are installed on the vehicle body, detect movable or stationary obstacles in the vehicle vicinity, and alert the driver while parking. These sensors get activated only at low speeds. Other factors responsible for the growth of this market include stringent safety regulations by automotive governing bodies, lack of parking spaces and increase in population and number of pedestrians on streets, especially in crowded metro cities. However, installation of these sensors increases the price of the vehicle, which is proving to be an obstacle to the growth of the market, in some developing countries.
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.
Global Automotive Parking Sensors Market Segmented by type, vehicle type, business model and region.
Reverse parking sensors
Front parking sensors
By Sales Channel
By Vehicle Type
Rest of the World
Market Research Analysis
In terms of region, the global Automotive Parking Sensors market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific accounted for the largest market share in 2018. The market in this region is dominated by countries such as China and Japan. In 2017, this region was the largest manufacturer of passenger and commercial vehicles, accounting for over 50% of the global vehicle production.
Europe also accounted for a considerable market share in 2018. This region has some of the major automobile manufacturing countries such as Germany, France and UK, to name a few. Besides, this region has also witnessed an increased demand for luxury vehicles, which have pre-installed parking sensors.
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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