Global Automotive Intelligence Park Assist System Market: Snapshot
The significant increase in the traffic flow, leading to a substantial rise in the number of road accidents, is influencing the global market for automotive intelligent park assist systems remarkably. With the increasing concerns among people over safety and comfort across the world, the automobile manufacturers are encouraged to combine automotive intelligent park assist systems into their vehicles, resulting the considerable rise in the demand for automotive intelligent park assist systems across the world.
In the years to come, the key vendors of automotive intelligent park assist systems are projected to focus aggressively on upgrading their models in order to strengthen their presence in the market through integrating product differentiating technologies into vehicles. In 2016, the worldwide market for automotive intelligent park assist systems offered an opportunity worth US$22.30 bn. Analysts estimate it to rise at a healthy CAGR of 6.76% and reach a value of reach US$38.53 bn by the end of 2025.
Demand for Semiautonomous Parking Assist Technology to Remain High
Based on the type of technology, the global market automotive intelligent park assist systems for autonomous parking assist and semiautonomous parking assist are the main segments of this market. In 2016, semiautonomous parking assist technology emerged as the segment leader, accounting for 60% of the market share, in terms of revenue.
Although the scenario will almost be same in the near future, the autonomous park assist segment is expected to demonstrate a higher growth rate. Autonomous park assist technology is projected to find significant application in North America and Europe in the years to come.
By component, the global automotive intelligence park assist system market is segregated into ultrasonic sensor, camera, and ultrasonic sensor and camera. In terms of revenue, the ultrasonic sensor and camera constituted more than 55% market share in 2016 and are expected to remain dominating over the next few years.
Presence of Established Players in U.S. to Ensure North America’s Dominance
Geographically, the global automotive intelligence park assist system market is classified into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America emerged as the leading regional market for automotive intelligence park assist systems in 2016 with a share of more than 32%. Researchers expect the scenario to remain so in the near future. The uptake of advance automotive technology and the presence of global manufacturers in the U.S. will boost this regional market substantially.
Europe closely follows North America with nearly same market share. As Europe is known to the automotive hub, most of the advanced components find their invention centers located in European countries. Furthermore, the level of acceptance towards advanced driver assistance systems is fairly higher.
The market for automotive intelligence park assist system is highly consolidate as each of the regional market is dominated by a select number of players. Toshiba Corp., Valeo, and Hitachi Ltd. are some of the leading players in this market. Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Delphi Automotive LLP, Siemens AG, Magna International, and Hella GmbH & Co. KGaA are some of the other prominent market participants.
Global Automotive Intelligence Park Assist System Market: Overview
This report analyzes and forecasts the market for automotive intelligence park assist system at the global and regional level. The market has been forecast based on revenue (US$ Mn) and volume (Units) from 2017 to 2025. The study includes drivers and restraints of the global automotive intelligence park assist system market. It also covers the impact of these drivers and restraints on demand for automotive intelligence park assist system during the forecast period. The report also highlights opportunities in the automotive intelligence park assist system market at the global and regional level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global automotive intelligence park assist system market. Porter’s Five Forces model for the automotive intelligence park assist system market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
Global Automotive Intelligence Park Assist System Market: Segmentation
The study provides a decisive view of the global automotive intelligence park assist system market by segmenting it in terms of component, vehicle, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for automotive intelligence park assist system in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual application segments in all the regions.
The report provides the estimated market size of automotive intelligence park assist system for 2016 and forecast for the next nine years. The global market size of automotive intelligence park assist system has been provided in terms of revenue and volume. Market numbers have been estimated based on key component, technology, and regional segments of automotive intelligence park assist system market. Market size and forecast for each major component and technology have been provided in terms of global and regional/country markets.
Global Automotive Intelligence Park Assist System Market: Research Methodology
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, American Automobile Association, European Automobile Manufacturers Association, Automotive Research Association of India, Organisation Internationale des Constructeurs d'Automobile (OICA), National Highway Traffic Safety Administration (NHTSA), European Commission, Factiva, etc.
Primary research involves e-mail interactions, telephonic interviews, and panel interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
Companies Mentioned in the Report
The study includes profiles of major companies operating in the global automotive intelligence park assist system market. Key players in the automotive intelligence park assist system market include Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Delphi Automotive LLP, Siemens AG, Valeo, Magna International, HELLA GmbH & Co. KGaA, TOSHIBA CORPORATION, Clarion, NXP Semiconductors, Aisin World Corp. of America and others. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, and SWOT analysis. The market for automotive intelligence park assist system is primarily driven by rising demand for automotive safety product.
The global automotive intelligence park assist system market has been segmented as follows:
- Autonomous Parking Assist
- Semiautonomous Parking Assist
- Ultrasonic Sensor
- Ultrasonic Sensor & Camera
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America