Automotive parking sensors have become an essential part of the automotive industry as they ensure the safety and maximum utilisation of the parking spaces. These sensors are present on the rear, front or both ends of the vehicle and make sounds with the decreasing distance from the obstacle. On observing the current trends, the global automotive parking sensors market is expected to touch 08 % annual growth mar during the survey periods. Such sensors are not only useful in protecting the vehicle, but they are also a helpful tool to protect pedestrians from potential damages.
The global automotive parking sensors market is a beneficial device but is facing challenges against high overall costs like installation and replacements, high development and testing prices and other factors. Rigid regulations for human and road safety have propelled the market and helped the market in gaining pace
Parking sensors are improving the driving experiences by making effective use of parking spaces and improve the rearview capabilities. Increasing demand for human safety and under the hood safety features is propelling the market on global scales. Also, the increasing demands for vehicles is directly beneficial for the growth of this market. Parking sensors sometimes come pre-installed with the vehicle or can be installed from external sources.
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Automotive Parking Sensors global market’s segments:
The global automotive parking sensors market is segmented into four parts:
Types: Front, reverse and other types of parking sensors are there.
Technologies: Based on technology, ultrasonic sensors and electromagnetic sensor technologies are available.
Availability: Automotive parking sensors are available through aftermarket and OEM (Original Equipment Manufacturer) sale channels.
Vehicle types: HCV (Heavy Commercial Vehicles), LCV (Light Commercial Vehicles) and passenger vehicles are employing this technology.
Regional Market Summary:
The Asia Pacific region is the third-largest market and will show the highest growth pace during the survey period. Increasing urbanisation, rising per capita incomes, expanding automobile industry, emphasis on human safety and other factors are empowering the market in this region. Rapidly developing economies like India, China and Japan are the major market shareholders.
America, Europe, Asia Pacific and The Middle East Africa are the major regions observed for the global automotive electric sensors market.
The European region is the largest market and will keep dominance during the survey period. Presence of major automobile giants and strict regulations for enhancing human safety are the factors responsible for the market’s growth. The American region is the second-largest market due to increasing demands for vehicles, development of new technologies and other factors.
Rest of the regions are also showing considerable growth but will stay at the bottom during this period.
Recent Industry News:
The global automotive parking sensors market is gaining pace with increasing human safety norms. Still, the high costs and money leakage for research development programs have limited the market’s growth. The European market is the largest presently and will stay at the top, whereas the Asia Pacific region is the fastest-growing market during the survey period.
Table Of Contents
- Executive Summary
- Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.2. Research Objective
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
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