openPR Logo
Press release

Park Assist System Market is slated to top US$ 595.6 Mn in 2022, And size will reach US$ 2.2 Bn by 2032

08-08-2022 07:13 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Park Assist System Market

Park Assist System Market

The global park assist system market is projected to reach a valuation of US$ 595.6 Mn in 2022. Demand is forecast to increase at a 14.3% CAGR during the forecast period, reaching US$ 2.2 Bn by 2032. Park assist system, which is also known as advanced parking guidance system, helps the driver park with higher precision using advanced guidance technology that uses radar and ultrasonic based solutions.

The park assist system is customer centric that elevates every phase of the parking experience with advanced parking features that guide drivers to park with confidence. These systems provide great performance, better efficiency, along with increased safety & security for vehicles which is propelling the demand for park assist systems. Along with the above mentioned factors, park assist system also minimizes the chance for potential scratches and dings when parking into very tight places.

Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-14658

As per FMI, the global park assist system market is expected to be dominated by Europe, followed by East Asia and the trend is predicted to continue during the forecast period. Park assist system market in Europe is projected to top US$ 773.4 Mn by 2032.

"Increasing technological advancements in ADAS systems in autonomous vehicles, along with growing adoption of park assist systems in passenger vehicles will continue pushing sales in the market over the assessment period," says an FMI analyst.

Key Takeaways:

• Based on technology, the ultrasonic sensor segment is projected to hold approximately 38.6% of the total market share in 2022.
• In terms of sales channel, demand in the OEM segment is anticipated to grow at a 14.4% CAGR through 2032.
• By vehicle type, total sales in the passenger vehicle segment are slated to reach a valuation of US$ 1.7 Bn by 2032.
• Sales in the U.S. park assist system market are forecast to grow at a 14.6% CAGR over the assessment period.
• China is expected to hold about 67.4% of the East Asia park assist market share in 2022.
• Europe will emerge as an attractive park assist system market, creating an incremental dollar opportunity of US$ 588.3 Mn over the forecast period.

Download PDF Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-14658

Competitive Landscape

Key market participants of the park assist system market include Continental AG, Robert Bosch, Denso Corporation, Magna International, Valeo SA, Hitachi Ltd., Delphi Automotive, ZF Friedrichshafen, Siemens AG, and Aisin Seiki Co. Ltd.

Leading park assist system manufacturers are focusing on providing active guidance in parking while enhancing safety and comfort of the passengers. Many players are focusing on technological developments for park assists systems as well as expanding their manufacturing capabilities for ADAS solutions. For instance:

• In Aug 2020, Robert Bosch along with Ford and Bedrock began research for automated valet parking that can increase the parking capacity and offer other services for vehicles while parked.

More Insights into the Global Park Assist System Market Report

In its latest report, FMI offers an unbiased analysis of the global park assist system market, providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on technology (ultrasonic sensor, lidar sensor, radar sensor, camera sensor, infrared sensor, pressure sensor), by sales channel (OEM, Aftermarket), by vehicle type (passenger vehicles, LCV, HCV) & by region ( North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).

Speak to our Research Expert: https://www.futuremarketinsights.com/ask-question/rep-gb-14658

About Future Market Insights - Automotive
The research report analyzes demand for automotive park assists systems. The global vehicle market has been analyzed upon covid-19 impact, macroeconomic factors, market trends & market background. As per FMI's research scope, the market has been analyzed on the basis of products, customers & regions. The report gives us qualitative and quantitative information on various players in this market. Also, this report tracks the market by both supply side and demand side.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
Browse All Reports: https://www.futuremarketinsights.com/reports

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Park Assist System Market is slated to top US$ 595.6 Mn in 2022, And size will reach US$ 2.2 Bn by 2032 here

News-ID: 2699838 • Views:

More Releases from Future Market Insights

UK Cosmetic Tubes Market Set for 6.53% Growth Amid Rising Demand for Skincare Innovation
UK Cosmetic Tubes Market Set for 6.53% Growth Amid Rising Demand for Skincare In …
The global cosmetic tubes market is on a trajectory of remarkable growth, projected to expand from USD 2.9 billion in 2025 to USD 4.6 billion by 2035, representing a steady CAGR of 4.7%. As a key segment of the broader USD 35.8 billion cosmetic packaging industry, tubes account for an 8.1% share of total packaging demand by value. Rising consumer interest in skincare, personal grooming, and travel-friendly formats is fueling
Sanitary Food & Beverage Packaging Market Set to Expand at 6.19% CAGR in China, Driving Innovation and Sustainable Growth
Sanitary Food & Beverage Packaging Market Set to Expand at 6.19% CAGR in China, …
China's sanitary food and beverage packaging market is projected to achieve a robust growth rate of 6.19% CAGR from 2025 to 2035, reaching USD 55.4 billion by the end of the forecast period. This growth is fueled by increasing consumer awareness around food safety, hygiene, and sustainable packaging practices. Manufacturers across the country are seizing this opportunity to implement advanced, eco-friendly packaging solutions that maintain product integrity and enhance shelf
India's Metalized Barrier Film Market Set to Soar at 6.53% CAGR, Unlocking Growth Opportunities for Manufacturers
India's Metalized Barrier Film Market Set to Soar at 6.53% CAGR, Unlocking Growt …
The metalized barrier film market in India is entering a pivotal growth phase, poised to expand at an impressive CAGR of 6.53% from 2024 to 2034. Valued at USD 2.3 billion in 2024 and projected to reach USD 2.9 billion by 2034, this market is increasingly shaping the packaging and manufacturing landscape. The rise of ready-to-eat foods, coupled with the need for sustainable and efficient packaging solutions, is creating compelling
Rigid Food Containers Market Set to Surge at 6.27% in the USA Amid Rising Demand for Sustainable Packaging
Rigid Food Containers Market Set to Surge at 6.27% in the USA Amid Rising Demand …
The global rigid food containers market is projected to expand from USD 186.5 billion in 2025 to USD 248.2 billion by 2035, representing a steady compound annual growth rate (CAGR) of 2.9%. This growth reflects increasing global demand for durable, reliable, and sustainable food packaging solutions across ready-to-eat meals, dairy products, frozen foods, and other segments. For manufacturers, this presents a strategic opportunity to invest in innovative container designs that

All 5 Releases


More Releases for Park

Adventure Theme Park Market Is Booming Worldwide : Sochi Adventure Park, Adventu …
Latest Study on Industrial Growth of Adventure Theme Park Market 2023-2028. A detailed study accumulated to offer Latest insights about acute features of the Adventure Theme Park market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends
Adventure Theme Park Market Set for More Growth | Adventure Park, Dorset Adventu …
Advance Market Analytics published a new research publication on "Adventure Theme Park Market Insights, to 2028" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Adventure Theme Park market was mainly driven by the increasing R&D spending across the world. Get Free Exclusive PDF Sample
Adventure Theme Park Market is Going to Boom | WildPlay, Adventure Park Lubbock, …
Global Adventure Theme Park Market is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The market Study is segmented by key a region that is accelerating the marketization. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Global Adventure Theme Park Market. Some of the
Adventure Theme Park Market SWOT Analysis by Key Players FUNLAND ADVENTURE PARK, …
The latest research on "Adventure Theme Park Report 2021" offered by HTF MI provides a comprehensive investigation into the geographical landscape, industry size along with the revenue estimation of the business. Additionally, the report also highlights the challenges impeding market growth and expansion strategies employed by leading companies in the "Market". Some of the Major Key Players Covered in this report are Adventure Park Usa, Adventure Park Lubbock, Adventure Park
Theme Park and Amusement Park Market is Booming Worldwide with Hopi Hari Park, H …
The latest research on “Global Theme Park and Amusement Park Report 2021” offered by HTF MI provides a comprehensive investigation into the geographical landscape, industry size along with the revenue estimation of the business. Additionally, the report also highlights the challenges impeding market growth and expansion strategies employed by leading companies in the “Market”. Get Free Sample PDF including full TOC, Tables and Figures and Available customizations) in Global Theme Park
Adventure Theme Park Market Research Capital expenditure, SWOT Analysis includin …
AMA published a new study on the Global Adventure Theme Park Market exclusive insights, Opportunities and revenue size estimation and growth factors. The Study is segmented by major and emerging countries having high potential and elaborates qualitative and quantitative information including market size breakdown by revenue and volume (if applicable).The study precisely caters drivers, restrains to capture changing market dynamics affected in current scenario. To reach market size forecast and