Global Automotive Parking Sensors Market to grow at a CAGR of 23.90% during 2016-2020

Albany, NY, Dec 19: Parking sensors are designed to alert the driver about obstacles while parking or reversing. The use of display along with parking sensor gives a more precise look to understand quickly about the obstacle in terms of distance and representation. As a result, the automotive industry is progressively witnessing the adoption of parking sensors.

The global automotive parking sensors market to grow at a CAGR of 23.90% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global automotive parking sensors market for 2016-2020. To calculate the market size, the report considers the revenue of automotive parking sensors across all regions.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

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Technavio's report, Global Automotive Parking Sensors Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
- Bosch
- DENSO
- Murata Manufacturing
- NXP Semiconductors
- Texas Instruments
- Valeo

Other prominent vendors
- Black Cat Security
- Nippon Audiotronix
- Parking Dynamics
- Proxel

Market driver
- Legislation standards for backup camera to push adoption of parking sensors.
- For a full, detailed list, view our report

Market challenge
- High replacement cost associated with parking sensor system.
- For a full, detailed list, view our report

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Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

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This release was published on openPR.