Global Automotive Parking Sensors MARKET 2020-2024
Global Automotive Parking Sensors Market 2020-2024
Technavio has been monitoring the global automotive parking sensors market and it is poised to grow by USD 14.47 bn during 2020-2024, progressing at a CAGR of 27% during the forecast period. Our reports on global automotive parking sensors market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the growing demand for assisted-parking systems.In addition, decreasing risk to small children and other pedestrians while reversing vehicles is anticipated to boost the growth of the global automotive parking sensors market as well.
Technavio's global automotive parking sensors market is segmented as below:
- Ultrasonic Sensors
- Electromagnetic Sensors
- Passenger Cars
- Commercial Vehicles
- North America
- South America
Key Trends for global automotive parking sensors market growth
This study identifies decreasing risk to small children and other pedestrians while reversing vehicles as the prime reasons driving the global automotive parking sensors market growth during the next few years.
Prominent vendors in global automotive parking sensors market
We provide a detailed analysis of around 25 vendors operating in the global automotive parking sensors market, including some of the vendors such as Analog Devices Inc., Aptiv PLC, Continental AG, CTS Corp., DENSO Corp., Murata Manufacturing Co. Ltd., NXP Semiconductors NV, Robert Bosch GmbH, Sensata Technologies Holding plc and Valeo S.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.