Park Assist System Market Pegged for Robust Expansion by 2031 | Type, Application, Scope & Key Companies: Delphi Automotive, Hitachi Ltd., Magna International, NXP Semiconductors

New York, Global Park Assist System Market report from Global Insight Services is the single authoritative source of intelligence on Park Assist System Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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The Park Assist System is a camera-based parking aid that helps the driver to park the vehicle in a parallel or perpendicular parking space. The system uses sensors to measure the distance to the curb and other objects, and then calculates the best path to take to avoid them. The driver can then control the vehicle's speed and steering while the system handles the acceleration and braking.

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Key Trends
The key trends in Park Assist System technology are:

-The development of more sophisticated sensors that can better detect the surrounding environment;

-The integration of Park Assist Systems with other vehicle systems such as navigation and braking;

-The development of Park Assist Systems that can automatically parallel or perpendicular park the vehicle;

-The development of wireless technologies that can allow the Park Assist System to communicate with the driver's mobile device.

Key Drivers
There are several key drivers of the park assist system market. One of the key drivers is the increasing demand for safety features in vehicles. Another key driver is the increasing awareness of the benefits of park assist systems. Additionally, the increasing number of accidents involving vehicles backing up is also driving the market for park assist systems.

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Market Segmentation
The Park Assist System Market is segmented by vehicle type, application, vehicle class, and region. Based on the vehicle type, the global market is divided into passenger car, light commercial vehicles, and heavy commercial vehicles. Based on application, it is bifurcated into semi-autonomous and fully autonomous. Based on vehicle class, it is classified into mid-priced and luxury. By region, the global market has been analyzed across North America, Europe, Asia-Pacific, and rest of the world.

Key Players
The key players in the Park Assist System Market are Aisin Seiki Co., Ltd., Continental AG, Delphi Automotive, Hitachi Ltd., Magna International, NXP Semiconductors, Robert Bosch GmbH, Siemens AG, Valeo and ZF Friedrichshafen.

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