Global Parking Sensors Market Size is estimated to expand rapidly in coming years, at a CAGR of xx.xx % from 2018 to 2025. In 2017, the global market valuation was USD xx.xx billion, and it is anticipated to be greater than USD xx.xx billion by 2025. Parking sensors are detectors for the closeness of cars needed to support the conductor to ensure secure and trouble-free parking. They are mounted in the back tire of the vehicle and are used to detect items that are hidden from sight, mitigating the danger of crashes when the vehicle is in the back position. Besides their advantages, time efficiency, fuel efficiency, and price savings, the demand for parking sensors during the forecast period are anticipated to be driving important variables.
Advanced Driver Assistance Systems (ADAS) are elements that warn riders to barriers. They collect real-time positions between the vehicles on a car park and accessibility of room via changing message signs. It uses sophisticated techniques to assist vehicles in locating, reserving and paying for parking. Consumers become more and more conscious of security technology and devices and are interested in enhancing car security, thereby boosting business development for traffic detectors.
The authorities in several nations have rigorous laws in place to guarantee the safety and effect of accidents and to decrease the construction and growth of these devices. An ever-growing amount of car crashes resulting from driver failures are requiring the ruling authorities to require that regulations apply to advanced vehicle technology so that deaths and crashes are minimized.
Global Market Growth Opportunities (Revenue, Growth) By 2018-2025
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global parking sensors market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global parking sensors market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
Parking Sensors Market: Secondary Research
To recognize and collect authentic and market-oriented information crucial for the research study, several secondary sources have been approached and referred. Press releases, white papers, companies annual reports, investor presentations, and articles present on trustworthy websites, databases, and certified publications are some of the significant secondary research sources that have been used to prepare the report. The data collected as secondary data have been obtained from various reliable journals and associations such as Smart Ticketing Alliance, Association of Professional Social Compliance Auditors, General Service Administration, Department of Transportation, and Association for Intelligent Transport Systems to reach to the market numbers or size. The data obtained through secondary sources has been validated through primary research.
Parking Sensors Market: Primary Research
For conducting primary research, several primary sources of the demand, as well as supply sides, have been approached and interviewed for obtaining quantitative and qualitative information crucial for the report. Vice Presidents, CEOs, technology directors, Product Managers, Marketing Directors and other executives of giant market players and organizations operating in parking sensor market are included as primary sources of the supply side.
After performing comprehensive engineering of parking sensor market (which includes market size estimations, calculations regarding market statistics, market forecasting, data triangulation, and market breakdown), detailed and vast primary research has been carried out to collect information along with verifying and validating the significant and critical market numbers arrived at.
The parking sensors market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players.
During the forecast period, North America will dominate the industry for parking sensors. Rapid development is due to enhanced revenues and development of baby boomers and luxurious vehicles by them, which are supposed to boost the development of parking sensors in the region's industry. It is anticipated to stimulate development by introducing legislation forcing operators to create sophisticated devices. The expansion in market for parking sensors in the Asia Pacific area is expected to drive a steady rise in supply for medium-size and small, safety-friendly cars, especially in China and India.
Global Parking Sensors Market Size, Share Analysis by Region 2018
Global Parking Sensors Market Study Objective
1. To forecast the market size of parking sensors market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
2. Market analysis and forecast of parking sensors market on the basis of region, substrate, and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
3. To analyze and elaborate significant factors that will have a major impact on the growth of parking sensors market, such as drivers, restraints, challenges, and opportunities.
4. The regional analysis of parking sensors market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific.
5. Strategic analysis of micro-markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market.
6. To provide detailed analysis of competitive and strategic developments in the parking sensors market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
Key Players Landscape
Abbott Analog Devices, Inc., Volkswagen, Denso Corporation, Honda, Hyundai, Continental AG, Robert Bosch GmbH, Ford Motor Company, Audi, Mercedes Benz, NXP Semiconductors N.V., Texas Instruments, Inc., Freescale Semiconductor, Ltd., and BMW are some of the key players in the market of parking sensor. There are several international suppliers in the worldwide parking sensors industry ecosystem. In the corresponding areas, there are several national teams who meet their requirements. Increased attention on the implementation of safety schemes by automotive producers is expected as a differentiator during the forecast period.
Global Parking Sensors Market Study Report Offer You!
The global parking sensors market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end-user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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