Global Parking Sensors Market To Grow at a CAGR of 24.2% By 2022 major key players profiled in this report are Analog Devices Inc, Robert Bosch GmbH, Continental AG., DENSO Corporation, Murata Manufacturing, NXP Semiconductors, Texas Instruments, Valeo

The Global Parking Sensors Market is accounted for $4,318 million in 2015 and expected to grow at a CAGR of 24.2% to reach $19,698 million by 2022. Factors such as helping to prevent injury to pedestrians and adoption of LiDAR in parking assist system will drive the market growth. However, high replacement cost and limited detection range of the sensors are the factors restraining the market growth.
Ultrasonic parking sensors segment attributed the highest share in the parking sensors technology market. Original Equipment Manufacturers (OEMs) segment holds the largest share due to increasing four-wheeler manufacturers. North America is the largest market followed by Europe in terms of revenue due to rising sales of top-end vehicles. Asia Pacific is expected to be the fastest growing region.

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Some of the key players in global Parking Sensors market are Analog Devices Inc, Robert Bosch GmbH, Continental AG., DENSO Corporation, Murata Manufacturing, NXP Semiconductors, Texas Instruments, Valeo, Freescale Semiconductor Ltd, BMW, Mercedes Benz, Ford Motor Company, Volkswagen, Audi and Parking Dynamics.
The report for Global Parking Sensors Market includes primary research alongside the comprehensive investigation of subjective as well as quantitative perspectives by different industry specialists, key supposition pioneers to gain the more profound understanding of the market and industry execution. The report gives the reasonable picture of the current market situation which incorporates authentic and anticipated market estimate in terms of esteem and volume, technological advancement, macroeconomic and governing factors in the market. The report provides detailed statistics and strategies of the best key players in the industry. The report additionally gives a broad study of the distinctive market sections and areas.

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For a detailed competitive analysis, the Global Parking Sensors Market is segmented on the basis of region, application, and product type. By region, the global sales market is divided into Asia-pacific, Europe, Latin America, the Middle East and Africa, and North America. Major industries are concentrating on distributing their products and services across various provinces. Moreover, acquisitions and unions from some of the leading administrations are on the cards in the near future. Efforts are being taken by most of the companies to improve their research and development activities to introduce innovations. Governments of many nations are also contributing towards the growth of the global market by increasing their funding. All these factors are predicted to propel the Global Parking Sensors Sales Market.

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