SMEs in Automotive parking sensors market size Face Financial Crunch as COVID-19 Spreads
Market Dynamics
Market
Research Future (MRFR) expects the Automotive parking sensors market size 2020
to thrive at a steady rate of 7.5% between 2018 and 2023 (assessment period). We
will provide covid-19 impact analysis with the report. The COVID-19 impact on
the market has been studied in the report, which offers an in-depth analysis
post the coronavirus disease outbreak.
COVID-19 Analysis
The
SARS-CoV-2 outbreak has brought the manufacturing sector to a halt, with a
number of OEMs as well as components suppliers trying to revive their usual production.
The COVID-19 outbreak is resulting in substantial delays in product deliveries,
postponing of various launches, supply chains turning fragile, SMEs facing
financial crunch, and vehicle sales declining exponentially. The novel
coronavirus is also expected to further worsen the situation for the automotive
industry, in the form of more stringent CO2 emissions regulations paired with
the rising need for investments in advanced technologies. However, the pandemic
has shed light on the benefits of automation and robotics, which have noted
higher adoption post COVID-19 outbreak. With IoT, digitalization and industrial
automation becoming highly relevant to the Tier 1 manufacturers following the SARS-CoV-2
outbreak, these can emerge as significant opportunities for the automakers. Companies
in the Automotive parking sensors market share are rigorously working on exploring techniques
to deal with the issues brought on by the dreadful pandemic. These companies
are trying to adjust to the current lockdown by adopting various mitigation measures
that can ensure uninterrupted production and reduced revenue loss. COVID-19 has
completely altered the market outlook for the auto manufactures and has steered
their focus towards development of advanced solutions within their vehicles.
This can be a great opportunity for the automotive parking sensors market growth, in addition to the automotive
industry’s intense efforts to join the healthcare sector in their mission to
find COVID-19 breakthrough.
Get
a FREE Report Sample - https://www.marketresearchfuture.com/sample_request/7454
Key Drivers and Main Barriers
In June 2020, Maruti Suzuki India revealed
that it is planning to launch CNG models, electric cars and SUVs in the country
by 2021. Considering the safety aspect, Maruti Suzuki’s first electric car is expected
to feature rear parking sensors, along with side airbags, seat belt reminder as
well as a speed alert system. Notable
launches by top companies, wherein the car models are equipped with the latest
technologies such as parking sensors, not only helps them gain extensive profits
but also benefit the automotive parking sensors market growth, as it gives a significant boost to
the vehicle sales across regions.Assisted-parking systems are observing massive
demand among consumers, which could be a prominent growth inducer in the automotive
parking sensors market growth. Parking sensors
find extensive use in assisted-parking systems since they help sense any hurdles
within the car range and then produce a visual or audio alert for the driver. Digital
graphics display screens along with reverse parking systems reveal the hurdle
that the car is closest to and provide safer, more accurate and better movement.
Leveraging the growth potential of the market, more and more players are
introducing advanced parking assist systems that feature rear-facing cameras to
draw in a higher number of customers.
Market Segmentation
The parking sensors market size can be
considered for type, technology, sales channel and vehicle type.
The types of
automotive parking sensors include front parking sensors, reverse parking
sensors, and more.
The technology-wise
market categories are Electromagnetic sensors, Ultrasonic sensors, Laser, Infrared
sensors, and others.
Depending on
the sales channel, the primary segments listed in the study are OEM as well as aftermarket.
Vehicle types
that have been taken in account by MRFR experts are LCV, HCV and passenger
cars.
Regional Overview
The Automotive
parking sensors market share of the
World.
In the
coming years, it is expected that Europe could claim the biggest share in the
global market, with the lead projected to be taken by the top automobile
manufacturing economies such as France and Germany. Strict regulations in the
region that pertain to pedestrian and vehicle safety are also prompting automotive
OEMs to equip their vehicles with safety features like parking sensors.
The APAC
market could possibly procure the fastest expansion rate over the review period,
with the top contributors to the growth being the developing countries of India
and China. The production as well as the demand for automobiles across these
countries is consistently growing, which is also encouraged by the booming population.
Due to these factors, these nations are perennially faced with parking space issues,
which have enhanced the significance of features like parking sensors. Besides,
the escalating disposable income of the people in the region along with the
expanding middle class populace that are highly aware of pedestrian and vehicle
safety also result in a positive industry outlook Significant Players
Significant
players that are adopting various marketing hacks to boost their share in the Automotive
Parking Sensors industry are NXP Semiconductors N.V. (the Netherlands), Denso
Corporation (Japan), Valeo (France), Gentex Corporation (U.S.), Aptiv PLC
(Greece), Continental AG (Germany), TGS Group (UK), Robert Bosch GmbH
(Germany), Autoliv Inc. (Sweden), Murata Manufacturing Co., Ltd. (Japan), and
more.
Browse Complete Report -https://www.marketresearchfuture.com/reports/automotive-parking-sensors-market-7454
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.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact:
Market Research Future
528, Amanora Chambers, Magarpatta Road, Hadapsar
Pune – 411028, Maharashtra, India
Email: sales@marketresearchfuture.com
Blog: https://www.mrfrblog.com/
Also Read More From MRFR:
Electric Vehicle (EV) Charging Station Market Research Report - Global Forecast till 2027
Automotive PCB Market Research Report - Global Forecast to 2027
Electric Two-Wheeler Market Research Report - Global Forecast till 2027
Under Floor Heating Market Research Report - Global Forecast 2027
Bluetooth in Automotive Market Research Report - Global Forecast till 2027
Construction Aggregate Market Global Research Report - Forecast 2027
Electric Vehicle (EV) Market Research Report - Global Forecast till 2027
Automotive Remote Diagnostics Market Research Report - Global Forecast till 2027
Electric Steering Market Research Report - Forecast to 2027
Global Green Building Materials Market Research Report - Forecast to 2027
Comments
Post a Comment