Parking Sensors Market Growth Factors, Segmented by Product, Top Manufacturers and Forecast by 2028

"Parking Sensors Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Type (Front Parking Sensors and Reverse Parking Sensors); Technology (Ultrasonic, Electromagnetic, Infrared, and Laser); Installation (OEM and Aftermarket); Vehicle Type (Heavy Commercial Vehicles, Light & Medium Commercial Vehicles, and Passenger Cars); and Geography"

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.

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Companies Profiled in this report includes: Analog Devices, Inc,Continental AG,Denso Corporation,Freescale Semiconductor, Ltd.,INRIX,Nedap,NXP Semiconductors N.V,Parking Dynamics,Robert Bosch GmbH,Texas Instruments Incorporated

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 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.

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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 2020 to 2028 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.

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