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Growth of the Park Assist System Market is propelled by the rising need for safety features in vehicles | Aisin Seiki Co., Ltd., Continental AG, Delphi Automotive, Hitachi Ltd.
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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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