Press release
Opportunities for the global automotive parking assistance system market to reach $2.1 billion by 2023
According to a new market report published by Lucintel, the future of the global automotive parking assistance system market looks promising with opportunities for SUVs and crossovers, large cars, and mid-size cars. The global automotive parking assistance system market is expected to reach an estimated $2.1 billion by 2023 and it is forecast to grow at a CAGR of 15.9% from 2018 to 2023. The major drivers of growth for this market are increasing demand for assisted driving in constrained environments, and rising focus on safety and convenience, leading the OEMs to integrate the parking assistance systems into their vehicles.By component type, camera and ultrasonic sensors are the major segments of the automotive parking assistance system market. On the basis of its comprehensive research, Lucintel forecasts that the camera segment will show above average growth during the forecast period.
By vehicle type, SUVs and crossovers, large cars, and mid-size cars are the major segments of the automotive parking assistance system market. The SUV and crossover segment is expected to show above average growth during the forecast period.
North America is expected to remain the largest region due to increasing vehicle production, government regulations for vehicle safety features, and increasing investment by the industry players within the North America region. Europe and North America are expected to witness significant growth over the forecast period because of rapidly increasing demand for advanced and high performance parking assistance systems.
Emerging trends, which have a direct impact on the dynamics of the industry, include the introduction of valet parking systems, adoption of LiDAR in parking assist systems, and the development of parking assistance systems for autonomous driving. Continental AG, Robert Bosch GmbH, Denso Corporation, ZF TRW Automotive Holdings Corporation, and Delphi Automotive PLC are the major parking assistance system suppliers in the global automotive parking assistance system market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive parking assistance system market by component type, vehicle type, end user, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Automotive Parking Assistance System Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive parking assistance system market by component type, vehicle type, end user, and region, as follows:
By Component Type ($ Million and Thousand Units from 2012 to 2023):
• Camera
• Ultrasonic Sensors
By Vehicle Type ($ Million and Thousand Units from 2012 to 2023):
• SUVs and crossovers
• Large Cars
• Mid-size Cars
• Others
By End Use ($ Million and Thousand Units from 2012 to 2023):
• OEM
• Aftermarket
By Region ($ Million and Thousand Units from 2012 to 2023):
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Russia
o United Kingdom
• Asia Pacific
o China
o Japan
o South Korea
o India
o Indonesia
• The Rest of the World
o Brazil
o Argentina
This 232-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com. Lucintel offerings include Mass Transportation, Transportation Market Report, SWOT Matrix, Due Diligence and Mergers & Acquisitions.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Lucintel LLC
222 Las Colinas Blvd West, Suite 1650, Irving, TX 75039, USA
Ph: +1-972-636-5056
marketing@lucintel.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Opportunities for the global automotive parking assistance system market to reach $2.1 billion by 2023 here
News-ID: 980266 • Views: …
More Releases from Lucintel LLC
Access Control as a Service Market is anticipated to grow at a CAGR of 11% durin …
The global access control as a service market is projected to reach $1.1 billion by 2025, at a CAGR of 11% during 2020-2025. The growth of access control as a service market is driven by increasing uses of cloud computing platforms and IoT technology, growing demand for cloud based hosted and managed services, and rising adoption of electronic security products in access control as a services market.
Some of the…
Opportunities for European automotive composites market to reach $5.3 billion by …
According to a new market report published by Lucintel, the future of the automotive composites market looks good with opportunities in the power train, exterior, interior, electrical and electronics, and under body system. The European automotive composites market is expected to reach an estimated $5.3 billion by 2025 with a CAGR of 3.7% from 2020 to 2025. The major drivers for this market are increasing automotive production and growing demand…
Technology Landscape, Trends and Opportunities in the Global Automotive Foam Mar …
The technologies in automotive foam have undergone significant changes in recent years, with traditional bulk foams to advanced Spray Foams. The rising wave of new technologies, such as polyolefin based foam and polyurethane based foams are creating significant potential in various vehicle platforms due to excellent mechanical strength, light weight, and wear and weathering resistance properties.
To download report brochure, please go to https://www.lucintel.com/technology-automotive-foam-market.aspx and click "report brochure" tab from the…
Opportunities for composites in the global aerospace market to reach $3.3 billio …
According to a new market report published by Lucintel, the future of the global aerospace composites material market looks promising with opportunities in commercial aircraft, regional aircraft, general aviation, helicopter, and military aircraft industries. The global aerospace composites materials market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an…
More Releases for SUV
Emerging Trends Influencing The Growth Of The Luxury SUV Market: Innovative Powe …
The Luxury SUV Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
How Big Is the Luxury SUV Market Size Expected to Be by 2034?
In the last few years, the luxury SUV market has seen a swift expansion. The market size is projected to escalate from…
SUV & Pickup Vedio Market Size Analysis by Application, Type, and Region: Foreca …
USA, New Jersey- According to Market Research Intellect, the global SUV & Pickup Vedio market in the Internet, Communication and Technology category is projected to witness significant growth from 2025 to 2032. Market dynamics, technological advancements, and evolving consumer demand are expected to drive expansion during this period.
The SUV and pickup vehicle market is experiencing significant growth, driven by a rising consumer preference for larger, more versatile vehicles. As people…
SUV & Pickup NVH Material Market Size Analysis by Application, Type, and Region: …
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- According to Market Research Intellect, the global SUV & Pickup NVH Material market in the Internet, Communication and Technology category is projected to witness significant growth from 2025 to 2032. Market dynamics, technological advancements, and evolving consumer demand are expected to drive expansion during this period.
The market for NVH (noise, vibration, and harshness) materials for SUVs and pickups is developing as a result of rising consumer demand…
Philippines SUV Market Analysis and Forecast, 2023-2028
The Philippines SUV market was estimated at a market value of US$ 1.6 billion in 2022 and is expected to grow at a significant CAGR of over 4.3% over the forecast period of 2023-2028.
Numerous factors affect the SUV (Sport Utility Vehicle) industry in the Philippines. In particular, rural areas of the Philippines have varied terrain, including rocky roads and uneven surfaces. SUVs are well renowned for their durability, increased ground…
SUV Market Scope & Analysis Report by 2027
The SUV market is projected to grow at a CAGR of 6.6% during the forecast period, from an estimated USD 885.8 billion in 2022 to USD 1,221.7 billion by 2027, at a CAGR of 6.6%. The growth of the SUV market.
Rising consumer inclination toward comfort and automatic safety features, other benefits such as higher ground clearance, commanding driver seating position, robustness, and off-road driving capabilities are projected to drive the…
Electric SUV Market Analysis Report 2022 - 2030
Acumen Research and Consulting has announced the addition of the "Electric SUV Market" report to their offering.
The Electric SUV Market Report 2030 is an in depth study analyzing the current state of the Electric SUV Market. It provides brief overview of the market focusing on definitions, market segmentation, end-use applications and industry chain analysis. The study on Electric SUV Market provides analysis of China market covering the industry trends, recent…