PUBLISHER: Lucintel | PRODUCT CODE: 1154051
PUBLISHER: Lucintel | PRODUCT CODE: 1154051
Automotive Parking Assistance Market Trends and Forecast
The future of the global automotive parking assistance market looks promising with opportunities in the SUVs and crossovers, large cars, and mid-size cars. The global automotive parking assistance market is expected to grow at a CAGR of 14.3% from 2021 to 2027. The major drivers 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.
Emerging Trends in the Automotive Parking Assistance Market
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.
A total of 151 figures / charts and 128 tables are provided in this 232-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope, benefits, companies researched, and other details of the global automotive parking assistance market report.
Automotive Parking Assistance Market by Segments
Lucintel forecasts that camera will remain the largest segment, and it is also expected to witness the highest growth over the forecast period. The study includes trends and forecast for the global automotive parking assistance market by component type, vehicle type, end user, and region, as follows:
Automotive Parking Assistance System Market by Vehicle Type [Value ($ Million) and Volume (Thousand Units) from 2016 to 2027]:
Automotive Parking Assistance System Market by End Use [Value ($ Million) and Volume (Thousand Units) from 2016 to 2027]:
Automotive Parking Assistance System Market by Region [Value ($ Million) and Volume (Thousand Units) from 2016 to 2027]:
List of Automotive Parking Assistance Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies automotive parking assistance companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automotive parking assistance companies profiled in this report includes.
Automotive Parking Assistance Market Insights
Features of the Global Automotive Parking Assistance Market
FAQ
Q1. What is the automotive parking assistance market size?
Answer: The global automotive parking assistance market is expected to reach an estimated $3.2 billion by 2027.
Q2. What is the growth forecast for automotive parking assistance market?
Answer: The automotive parking assistance market is expected to grow at a CAGR of 14.3% from 2021 to 2027.
Q3. What are the major drivers influencing the growth of the automotive parking assistance market?
Answer: The major drivers 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.
Q4. What are the major components or end use industries for automotive parking assistance?
Answer: Camera is the major segment by component for automotive parking assistance.
Q5. What are the emerging trends in automotive parking assistance market?
Answer: 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.
Q6. Who are the key automotive parking assistance companies?
Answer: Some of the key automotive parking assistance companies are as follows:
Q7. Which automotive parking assistance product segment will be the largest in future?
Answer: Lucintel forecasts that camera will remain the largest segment, and it is also expected to witness the highest growth over the forecast period because it provides visibility to the driver about a situation by creating image which ultimately helps the driver to take a proper decision; therefore, it is used in most of the ADAS products and that ultimately drives the camera segment in the automotive parking assistance system market.
Q8 : In automotive parking assistance market, which region is expected to be the largest in next 5 years?
Answer: 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.
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.