Parking Sensors Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Parking sensors, which can also be defined as proximity sensors are installed in vehicles for assisting the driver for convenient and safe car parking. Parking sensors helps the driver to ease their parking job by utilize the sound or display to identify collision with the nearby vehicle. These sensors can identify several obstacles other than nearby vehicle such as pedestrians, walls, pillars and fences.

MARKET DYNAMICS

The increasing government initiatives regarding installation of safety systems including parking sensors in several economies worldwide is the major factor bolstering the growth of the parking sensors market. Also, the rapid growth of automotive industry coupled with increasing awareness among people for vehicle safety devices owing to increasing road fatalities and accidents is propelling the parking sensors market growth. However, limited detection range of parking sensors is the key factor restricting the market growth. Advancements in artificial intelligence technology for making system operator independent is expected to provide prosperous opportunity to the parking sensors market growth.

MARKET SCOPE

The "Global Parking Sensors Market Analysis to 2031" is a specialized and in-depth study of the parking sensors industry with a special focus on the global market trend analysis. The report aims to provide an overview of parking sensors market with detailed market segmentation by type, technology, installation, vehicle type, and geography. The global parking sensors market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading parking sensors market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION
The global parking sensors market is segmented on the basis of type, technology, installation, and vehicle type. Based on type, the market is segmented into front parking sensors and reverse parking sensors. On the basis of the technology the market is segmented into ultrasonic, electromagnetic, infrared, laser, and others. The market on the basis of the installation is classified into OEM and aftermarket, Furthermore, the market is also categorized by vehicle type into heavy commercial vehicles, light & medium commercial vehicles, and passenger cars.

REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global parking sensors market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The parking sensors market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting parking sensors market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the parking sensors market in these regions.

MARKET PLAYERS

The reports cover key developments in the parking sensors market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from parking sensors market are anticipated to lucrative growth opportunities in the future with the rising demand for parking sensors in the global market. Below mentioned is the list of few companies engaged in the parking sensors market.

The report also includes the profiles of key parking sensors companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

• Analog Devices, Inc
• Continental AG
• Denso Corporation
• Freescale Semiconductor, Ltd.
• INRIX
• Nedap
• NXP Semiconductors N.V
• Parking Dynamics
• Robert Bosch GmbH
• Texas Instruments Incorporated

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Parking Sensors Report Scope