Parking Assist Systems helps drivers
easily park the crowded parking lots in order to avoid hanging and collisions.
The parking assist system is an essential application of the car active
collision avoidance system in low-speed and urban complex environments and it
is also an intelligent embodiment of the car active collision avoidance system.
The emergence of parking assist systems supports easier parking. The growth of
the market has been from simple assistance to integrated automatic parking. The
Global Automotive
intelligence parking assist systems market is expected to be valued worth USD 30 billion by
2026, reporting a CAGR of over 7 per cent during the forecasted period from
2020-2026.
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Report@
Vehicle electrification and
government initiative to reduce road accidents to drive the growth of Global
Automotive Intelligence Park Assist System Market
Automotive Intelligence Park Assist
System is also known as Advanced Parking Guidance system (APGS) in some
countries. It is a system surrounded by electronic components such as ICE,
Sensors and electrical Vehicles. The automotive Intelligence park assist system
provides physical regulations for various power components like semiconductors
and helps to park the vehicle safely by tracking the parking area. The
automotive intelligence park assist system comprises of onboard computer used
camera fixed into the front and rear sides of the car and sensors positioned at
similar locations notice the proximity of nearby vehicles. The sensors are
electromagnetic or ultrasonic and are designed to alert the driver from
obstacles while parking.
The major driving factor responsible
for the growth of this market are developing commercial sectors globally,
increasing uses of wide angle camera technology in vehicles and rising trend of
vehicle electrification and the government initiative to reduce road accidents.
Growing demand for autonomous and semi-autonomous parking systems, complex
design of the system and automotive intelligence park systems are few of the
other factors driving the growth of the market in 2019.
Rising number of manufacturers
integrating intelligence park assist systems technology in vehicles, power
savings and skilled labor are key factors that can support the expansion of the
Global Automotive Intelligence Park Assist System Market in the forecasted
period. Another major key factor considered for the growth of the market is the
growing competition between Automotive Intelligence Park Assist System service
providers and increasing support from the local government to employ safety
systems in automobiles. These factors have stimulated the global players to
develop and design the Automotive Intelligence Park Assist Systems as per the
guidelines set by governing bodies operating in automotive and semiconductor
sector in various regions.
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Exclusive PDF Sample of this market segmentation @
On the basis of Technology, the
global Automotive Intelligence Park Assist System Market can be classified as
Autonomous Parking Assist and Semi-autonomous Parking Assist. On the basis of
Component, the Global Automotive Intelligence Park Assist System Market can be
classified as Ultrasonic Sensor, Camera, Ultrasonic Sensor and Camera and on
the basis of Vehicle Type, the Global Automotive Intelligence Park Assist
System Market can be bifurcated as Passenger Car and Commercial Vehicles. In
2019, Autonomous parking assist segment has contributed the largest share to
the Global Automotive Intelligence Park Assist System Market owning to advancement
in automobile technology and requirement for safe vehicle parking.
North America emerged as a leading
regional market for Automotive Intelligence Park Assist System Market in 2019
North America, Europe, Asia-Pacific,
Middle East and Africa and Latin America are few of the key regions where the
Global Automotive Intelligence Park Assist System Market can be witnessed.
North America emerged as a leading regional market for Automotive Intelligence
Park Assist System Market in 2019 with a share of more than 35 per cent. The
growth of the region can be attributed to factors such as rise in advanced
automotive technology and the presence of global manufacturers in the US.
Another emerging area in the Global Automotive Intelligence Park Assist System
Market is Europe owing to presence of advanced components invention centers in
the region.
Vehicle electrification and
government initiative to reduce road accidents to drive the growth of Global
Automotive Intelligence Park Assist System Market
Automotive Intelligence Park Assist
System is also known as Advanced Parking Guidance system (APGS) in some
countries. It is a system surrounded by electronic components such as ICE,
Sensors and electrical Vehicles. The automotive Intelligence park assist system
provides physical regulations for various power components like semiconductors
and helps to park the vehicle safely by tracking the parking area. The
automotive intelligence park assist system comprises of onboard computer used
camera fixed into the front and rear sides of the car and sensors positioned at
similar locations notice the proximity of nearby vehicles. The sensors are
electromagnetic or ultrasonic and are designed to alert the driver from
obstacles while parking.
The major driving factor responsible
for the growth of this market are developing commercial sectors globally,
increasing uses of wide angle camera technology in vehicles and rising trend of
vehicle electrification and the government initiative to reduce road accidents.
Growing demand for autonomous and semi-autonomous parking systems, complex
design of the system and automotive intelligence park systems are few of the
other factors driving the growth of the market in 2019.
Rising number of manufacturers
integrating intelligence park assist systems technology in vehicles, power
savings and skilled labor are key factors that can support the expansion of the
Global Automotive Intelligence Park Assist System Market in the forecasted
period. Another major key factor considered for the growth of the market is the
growing competition between Automotive Intelligence Park Assist System service
providers and increasing support from the local government to employ safety
systems in automobiles. These factors have stimulated the global players to
develop and design the Automotive Intelligence Park Assist Systems as per the
guidelines set by governing bodies operating in automotive and semiconductor
sector in various regions.
Autonomous parking assist segment
contributed the largest share to the market in 2019
On the basis of Technology, the
global Automotive Intelligence Park Assist System Market can be classified as
Autonomous Parking Assist and Semi-autonomous Parking Assist. On the basis of
Component, the Global Automotive Intelligence Park Assist System Market can be
classified as Ultrasonic Sensor, Camera, Ultrasonic Sensor and Camera and on
the basis of Vehicle Type, the Global Automotive Intelligence Park Assist
System Market can be bifurcated as Passenger Car and Commercial Vehicles. In
2019, Autonomous parking assist segment has contributed the largest share to
the Global Automotive Intelligence Park Assist System Market owning to
advancement in automobile technology and requirement for safe vehicle parking.
North America emerged as a leading
regional market for Automotive Intelligence Park Assist System Market in 2019
North America, Europe, Asia-Pacific,
Middle East and Africa and Latin America are few of the key regions where the
Global Automotive Intelligence Park Assist System Market can be witnessed.
North America emerged as a leading regional market for Automotive Intelligence
Park Assist System Market in 2019 with a share of more than 35 per cent. The
growth of the region can be attributed to factors such as rise in advanced
automotive technology and the presence of global manufacturers in the US.
Another emerging area in the Global Automotive Intelligence Park Assist System
Market is Europe owing to presence of advanced components invention centers in
the region.
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