Parking Sensor Market Size, Share, and Trends Analysis Report to Observe Prominent CAGR of 15.75% by 2029, Size, Share, Trends, Demand, Growth, Challenges and Competitive Outlook

Data Bridge Market Research analyses that the parking sensor market was valued at USD 3,224.45 million in 2021 and is expected to reach USD 10,390.19 million by 2029, registering a CAGR of 15.75 % during the forecast period of 2022 to 2029.

Market Definition:

Parking sensors are proximity sensors designed for road vehicles to alert the driver of obstacles while parking. These parking sensor use either ultrasonic or electromagnetic sensors. These systems invokes ultrasonic proximity detectors which measure the distances to nearby objects via sensors located in the rear or front bumper.

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Some of the major players Robert Bosch GmbH (Germany), Aptiv (U.S.), Denso Corporation (Japan), Valeo (France), Autoliv (Sweden), Gentex Corporation (U.S.), Continental AG (Germany), Murata Manufacturing Co., Ltd. (Japan), Analog Devices, Inc. (U.S.), Freescale Semiconductor (U.S.), STMicroelectronics (Switzerland), NXP Semiconductors (Japan), Texas Instruments Incorporated (U.S.), Mercedes-Benz (Germany), Ford Motor Company (U.S.), Hyundai Motor India (south Korea), American Honda Motor Co., Inc. (U.S.)

Competitive Landscape and Parking Sensor Market Share Analysis:

The parking sensor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to parking sensor market.

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