A Rise in Valuation has made Global Automotive Intelligence Park Assist System Market More Optimistic than Before

 

Industry Insight

A report by Marker Research Future (MRFR) estimates the global Automotive Intelligence Park Assist System market 2020 to rise at a substantial CAGR during the forecast period 2018-2023. At this pace, the opportunities in the worldwide Intelligence Park Assist System market are estimated to swell up with high valuation by the end of the year 2023.

Top Impacting Factors: Automotive Intelligence Park Assist System

The study signifies that a significant rise in the traffic flow has led to a substantial rise in the number of road accidents, which is influencing the global automotive intelligent park assist systems market remarkably. Also, with the rising concerns among people over safety and comfort across the globe, automobile manufacturers are encouraged to combine automotive intelligent park assist systems into the vehicles and resulting in a massive rise in the demand for automotive intelligent park assist systems worldwide.

The study further emphasizes the fact that, in the years to come, the key vendors of automotive intelligent park assist systems are estimated to focus assertively on upgrading car models in order to strengthen their presence in the market. This will be done through integrating product differentiating technologies into vehicles. Like, one case reported in the year 2016, the worldwide market for automotive intelligent park assist systems had an opportunity worth US$22.30 bn. Whereas, the market is now leading with an estimation to gain more over this valuation in the years to come, and would make the market stable than before, globally.

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Furthermore, some more essential factors came into light while evaluating the market and its prospects, is that mounting uses of wide-angle camera technology in vehicles, rising trend of vehicle electrification, and some government initiatives to reduce road accidents have also been responsible in shaping the future of the market. In fact, the growing demand for autonomous and semi-autonomous parking systems, improving the economy in emerging nations, and growing population are also providing enough opportunity of growth to this market so that it can gain more and more shares in the coming years.

Despite these factors, the market for Automotive Intelligence Park Assist System could hit by some restraints while growing owing to factors such as lack of skilled drivers, lack of standard protocols, and sophisticated design of the system. Restrictive growth might occur during the years 2018 to 2023.

Segmentation of Market: Automotive Intelligence Park Assist System

From the viewpoint of the segmental study of the global Automotive Intelligence Park Assist System, various segments have been involved, such as technology and component.

Depending on the technology segment, the market has been segregated into autonomous and semi-autonomous parking assist.

Depending on the component segment, the market has been segregated into the camera, ultrasonic sensor, and Ultrasonic Sensor & Camera.

Depending on the vehicle type, the market is segmented among the passenger car and commercial vehicle.

 

Regional Framework

From the viewpoint of the regional aspect, the global Automotive Intelligence Park Assist System has included vital regions of Europe, North America, Asia-Pacific, and the Rest of the World.

The region of North America, by the study, emerged as the leading regional market for automotive intelligence park assist systems back in 2016 and has a share of more than 32%. Researchers expect the scenario to remain similar in future timeframe. The uptake of advance automotive technology and the existence of global manufacturers in the U.S. will further boost this regional market substantially.

Europe closely follows the region of North America with nearly 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. With this, the level of acceptance towards advanced driver assistance systems is moderately higher in this region, which is giving the region a considerable boost to expand in the present time to witness a healthy valuation in the forecast period.

The Asia-Pacific region is also in the same line as it is estimated to occupy the largest market share during the forecast period. Such growth is attributed to the growing population, changing lifestyle of consumers, and lack of parking space, across the region. Moreover, the increased use of electrification in vehicles is also anticipated to enhance the demand for automotive intelligence park assist system in the region. With this, the rise in demand for safety features in vehicles and rising investment by public and private players to develop the automobile sector inbuilt with advance technology such as IoT, AI, ADAS, Sensors, and other systems, are also contributing in the growth of this market in this region.

Top Market Contenders

The global automotive intelligence park assist system market is highly consolidated as each of the regional markets is led by some of the best market contenders. Valeo (France), Siemens AG (Germany),  ZF Friedrichshafen AG (Germany), Robert Bosch GmbH (Germany),  Continental AG (Germany), Magna International (Canada),  Delphi Automotive (Germany) Toshiba Corporation  (Japan), HELLA GmbH & Co. KGaA (Germany), NXP Semiconductors (Netherlands), are some of the prominent names listed in MRFR’s study.

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Key Questions Addressed by the Report

• What was the historic market size?
• Which segmentation (Product/ Capacity) is driving market?
• What will be the growth rate?
• How are the key players in this market?
• What are the strategies adopted by key players?

TABLE OF CONTENTS

 

1 EXECUTIVE SUMMARY

 

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

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

3.1.1 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

 

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.

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