Andhrapradesh Journal

Parking Sensors Market To Generate High Revenue Due To Rising Technological Advancements And Reduces Accident While Parking Vehicles Till 2020 | Million Insights

 Breaking News
  • No posts were found

Parking Sensors Market To Generate High Revenue Due To Rising Technological Advancements And Reduces Accident While Parking Vehicles Till 2020 | Million Insights

July 13
19:33 2020
Parking Sensors Market To Generate High Revenue Due To Rising Technological Advancements And Reduces Accident While Parking Vehicles Till 2020 | Million Insights

Million Insights – World’s Fastest Growing Market Research Database
According to new report available with Million Insights, the global parking sensor industry report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.

The global Parking Sensors Market size is projected to value at USD 9,782.9 million by 2020, according to a new report published by Million Insights. Parking sensors help in protecting the vehicle against physical damages by informing the driver when the vehicle reaches an obstacle. Moreover, the sensors prevent any injuries to the pedestrians. Such features help in changing dimensions and shrinking parking spaces of a car, thereby, driving the market growth.

The ultrasonic technology held a market share of 65.1% in 2012. Electromagnetic parking sensors are predicted to witness a faster growth with a CAGR of 19.3% by 2020. The installation by the original equipment manufacturer (OEM) held a market share of 80.7% in 2012. These installations are more expensive as against their aftermarket counterparts, thus, generating higher revenue.

To download the sample pdf of Parking Sensors Market Report “Please” click here https://www.millioninsights.com/industry-reports/global-parking-sensors-market/request-sample

The key players include Freescale Semiconductor Ltd., BMW, Texas Instruments Inc., Audi, Robert Bosch GmbH, Volkswagen, and Continental AG among others. The key manufacturers provide parking sensor systems, with LCD displays that are optional to show the distance between the obstacle and the vehicle. The market players provide Advanced Driver Assistance Systems (ADAS) to alert the driver for making a timely and informed decisions.

To browse report summary & detailed TOC, “please” click the link below: https://www.millioninsights.com/industry-reports/global-parking-sensors-market

Further key findings from the report suggest:

• The global parking sensor market was worth USD 2,546 million in 2012 and is anticipated to register a CAGR of 18.4% over the forecast period.

• The ultrasonic parking sensors are anticipated to maintain its lead in the global market during the projected period. On the other hand, electromagnetic technology is predicted to observe the fastest growth due to its ability to overcome obstacles like the existence of visible parts on the vehicle’s bumper. Moreover, electromagnetic sensors are installed with a maintenance system and are self-diagnostic.

• Aftermarket parking sensors are less costly as compared to the OEM sensors since these are made especially to model the vehicle. OEM installed parking sensors provide higher fitment and construction therefore; these are predicted to generate higher revenue in the global industry over the forecast period.

• North America held a market share of 38.5% in 2012 and is projected to maintain its lead in the market throughout the forecast period. Government initiatives in the region are predicted to be the major driver for regional growth. Asia Pacific is poised to account for the fastest growth with a CAGR of 20.1% over the forecast period.

Million Insights has segmented the global parking sensors market on the basis of technology, installation and regional markets:

Parking Sensors Technology Outlook (Revenue in USD Million, 2012 – 2020)
    • Ultrasonic
    • Electromagnetic

Parking Sensors Installation Outlook (Revenue in USD Million, 2012 – 2020)
    • OEM
    • Aftermarket

Parking Sensors Regional Outlook (Revenue in USD Million, 2012 – 2020)
    • North America
        • North America Parking Sensors Market by Technology
           • Ultrasonic
           • Electromagnetic
       • North America Parking Sensors Market by Installation
           • OEM
           • Aftermarket
    • Europe
       • Europe Parking Sensors Market by Technology
           • Ultrasonic
           • Electromagnetic
       • Europe Parking Sensors Market by Installation
           • OEM
           • Aftermarket
    • Asia Pacific
       • Asia Pacific Parking Sensors Market by Technology
           • Ultrasonic
           • Electromagnetic
       • Asia Pacific Parking Sensors Market by Installation
           • OEM
           • Aftermarket
    • RoW
       • RoW Parking Sensors Market by Technology
           • Ultrasonic
           • Electromagnetic
       • RoW Parking Sensors Market by Installation
           • OEM
           • Aftermarket 

Explore the Latest Reports By Million Insights:

• Rail Mounted Gantry Crane MarketThe global rail mounted gantry crane market size was valued for USD 286.1 million, in 2016. The market is projected to gain momentum over the forecast period, 2017 to 2025. Increasing global trade activities along with growing container traffic, and vessel sizes is boosting the market growth.

• Reusable Water Bottle Market: The global reusable water bottle market size was accounted for USD 8.1 billion, in 2018. It is estimated to grow significantly, at a CAGR of 3.9% over the forecast period, 2019 to 2025. Some of the key factors driving the market include changing lifestyle of people, high demand for convenience products, rising health awareness, and increasing concerns for environmental sustainability.

About Million Insights

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Media Contact
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: Send Email
Phone: 91-20-65300184
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
City: Pune
State: Maharashtra
Country: India
Website: https://www.millioninsights.com/industry-reports/global-parking-sensors-market

Related Articles