Automotive Intelligence Park Assist System Market: by Product (Autonomous Parking Assist, Semiautonomous Parking Assist), by Type (Ultrasonic Sensor, Camera, Ultrasonic Sensor & Camera) - Forecast to 2030
Overview
The Automotive Intelligence Park Assist System Market size was valued at USD 8.43 Billion in 2023 and the total Automotive Intelligence Park Assist System revenue is expected to grow at a CAGR of 24.9% from 2024 to 2030, reaching nearly USD 40.00 Billion.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments.
The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Parking assist system support drivers to easily park in crowded parking lots to avoid hanging & collisions. The parking assist system is a necessary application for the car active collision avoidance system in low-speed and urban complex environments.
Key factors such as rising traffic flow & consequent increase in road accidents act as main driving forces for the automotive intelligence park assist system market. The increase in inhabitant’s worldwide resulted in traffic crowding, this caused a lack of parking space. The upsurge in the rate of road accidents made the government bodies to execute stringent regulations for road safety. Governments had also undertaken some initiatives to encourage safety & to reduce car accidents. This, in turn, has increased the demand for automotive intelligence park assist system in the cars. Additionally, rising demand for autonomous & semi-autonomous cars delivers profitable business opportunities for the key players in the global automotive intelligence park assist system market.
Also, rising awareness among the population about safety has also helped in falling the mishaps. Nevertheless, the dearth in the protocol for the development of the automotive intelligence park assist system is the main restraining factor for the global automotive intelligence park assist system market.
Global Automotive Intelligence Park Assist System Market Segment Analysis:
Based on the technology, the semiautonomous parking assist segment is booming the global automotive intelligence park assist system market. The automotive intelligence park assist system used in this supported the driver in finding a parking space by showing free spaces in a display placed on the upper centre console. After stopping the car & changing into reverse, the automotive intelligence park assist system control the steering. The driver drives the car by using the instructions of the system on the display about accelerating & breaking, and the system control the steering while parallel parking autonomously.
By the component, an ultrasonic sensor & camera segment has the largest share throughout the forecast period. Ultrasonic proximity detectors to measure the distances to nearby objects via sensors located in the front and rear bumper fascia’s or visually minimized within adjacent grills or recesses. As an ultrasonic system relies on the reflection of sound waves, the system may not detect flat objects or object not sufficiently large to reflect sound which is a thin pole or a longitudinal object pointed directly at the vehicle or near an object.
Global Automotive Intelligence Park Assist System Market Regional Analysis:
Region-wise, North America emerged as the leading regional market for the automotive
intelligence park assist systems in 2019 with a share of more than 35%. Researchers expect the scenario to remain the same in the future. The acceptance of advanced automotive technology and the presence of global manufacturers in the U.S. will increase this regional market considerably. Europe closely follows North America with almost the same market share. As Europe is known to the automotive hub, most of the advanced components find their invention centers located in European countries. As well, the level of acceptance towards advanced driver assistance systems is fairly higher.
The objective of the report is to present comprehensive analysis of Global Automotive Intelligence Park Assist System Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Global Automotive Intelligence Park Assist System Market dynamics, structure by analyzing the market segments, and project the Global Automotive Intelligence Park Assist System Market size. Clear representation of competitive analysis of key players By Distribution Channel, Type, and regional presence in the Global Automotive Intelligence Park Assist System Market make the report investor’s guide.
Automotive Intelligence Park Assist System Market, Key Highlights:
• Global Automotive Intelligence Park Assist System Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Automotive Intelligence Park Assist System Market
• Global Automotive Intelligence Park Assist System Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Automotive Intelligence Park Assist System Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Automotive Intelligence Park Assist System Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Automotive Intelligence Park Assist System Market are also profiled.
Automotive Intelligence Park Assist System Market Scope: Inquire before buying
| Automotive Intelligence Park Assist System Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 8.43 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 24.9% | Market Size in 2030: | USD 40.00 Bn. |
| Segments Covered: | by Product | Autonomous Parking Assist Semiautonomous Parking Assist |
|
| by Type | Ultrasonic Sensor Camera Ultrasonic Sensor & Camera |
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Automotive Intelligence Park Assist System Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Automotive Intelligence Park Assist System Market Key Players
1. Robert Bosch GmbH
2. Continental AG
3. ZF Friedrichshafen AG
4. Delphi Automotive LLP
5. Siemens AG
6. Valeo
7. HELLA GmbH & Co. KGaA
8. TOSHIBA CORPORATION
9. Clarion
10. NXP Semiconductors
11. Magna International
12. Aptiv PLC
13. Blighter Surveillance Systems Ltd.
14. Hitachi, Ltd.,
15. BorgWarner Inc.,
16. AISIN SEIKI Co., Ltd
17. HYUNDAI MOBIS
18. Panasonic Corporation
Frequently Asked Questions:
1. Which region has the largest share in Global Automotive Intelligence Park Assist System Market?
Ans:North America region held the highest share in 2023.
2. What is the growth rate of Global Automotive Intelligence Park Assist System Market?
Ans: The Global Automotive Intelligence Park Assist System Market is growing at a CAGR of 24.9% during forecasting period 2024-2030.
3. What is scope of the Global Automotive Intelligence Park Assist System Market report?
Ans: Global Automotive Intelligence Park Assist System Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Automotive Intelligence Park Assist System Market?
Ans: The important key players in the Global Automotive Intelligence Park Assist System Market are – Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Delphi Automotive LLP, Siemens AG, Valeo, HELLA GmbH & Co. KGaA, TOSHIBA CORPORATION, Clarion, NXP Semiconductors, Magna International, Aptiv PLC, Blighter Surveillance Systems Ltd., Hitachi, Ltd.,, BorgWarner Inc.,, AISIN SEIKI Co., Ltd, HYUNDAI MOBIS, Panasonic Corporation, Park Assist, Amano Corporation, Kapsch Group, Magna International, and TKH GROUP
5. What was the Global Automotive Intelligence Park Assist System Market size in 2023?
Ans: The Global Automotive Intelligence Park Assist System Market size was USD 8.43 Billion in 2023.