DUBLIN--(BUSINESS WIRE)--The "Parking
Sensors - Global Market Outlook (2017-2023)" report has been
added to ResearchAndMarkets.com's offering.
The Global Parking Sensors Market accounted for $5,363.4 million in 2016 and is expected to grow at a CAGR of 24.2% to reach $24,467.2 million by 2023.
Factors such as helping to prevent injury to pedestrians and adoption of LiDAR in parking assist system will drive the market growth. However, high replacement cost and limited detection range of the sensors are the factors restraining the market.
By technology, ultrasonic parking sensors dominated the global market due to the rising demand for parking assist systems among low and mid segment vehicles. Also, the segment's command is mainly due to the improved accessibility and the dropping price of ultrasonic sensors. These sensors use sound waves to detect the obstacle whether the vehicle is in motion or at rest.
Based on geography, North America is leading the global market due to rising sales of high and mid level cars, growing population of baby boomers and increased acceptance of luxury cars by baby boomers, will drive the market's growth prospects in this region. Moreover, Asia Pacific is expected to be the fastest growing region during the forecast period.
- Original Equipment Manufacturers (OEMs)
Key Topics Covered
1 Executive Summary
3 Market Trend Analysis
4 Porters Five Force Analysis
5 Global Parking Sensors Market, By Technology
6 Global Parking Sensors Market, By End-User
7 Global Parking Sensors Market, By Geography
8 Key Developments
9 Company Profiling
- Robert Bosch GmbH
- Continental AG
- NXP Semiconductors N.V.
- Freescale Semiconductor Ltd.
- Abbott Analog Devices Inc.
- Denso Corporation
- Ford Motor Company
- Mercedes Benz (Parktronic)
- Texas Instruments Inc.
- Parking Dynamics
- Murata Manufacturing
- Black Cat Security
- Nippon Audiotronix
For more information about this report visit https://www.researchandmarkets.com/research/qj5zb2/global_parking?w=4