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Automotive Intelligence Park Assist System Market

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Automotive Intelligence Park Assist System Market – Upgradation of Models to Keep
Demand High
With each of the region led by a select numbers of players, the global automotive intelligence
park assist systems market demonstrates a highly consolidated structure. Although the degree of
competition within this market will significantly high over the next few years, thanks to the
presence of medium and large sized manufacturers in a large number, states a new report by
Transparency Market Research (TMR). Toshiba Corp., Hitachi Ltd., Robert Bosch GmbH,
Continental AG, ZF Friedrichshafen AG, Delphi Automotive LLP, Siemens AG, Valeo, Magna
International, and Hella GmbH & Co. KGaA are some of the leading vendors of automotive
intelligence park assist systems across the world. In the coming years, these players are expected
to benefit significantly by involving into strategic alliances with regional participants in this
market, reports the research study.
According to the research study, the worldwide market for automotive intelligent park assist
systems offered an opportunity worth US$22.30 bn in 2016. Analysts at TMR 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 the forecast
period. Currently, semiautonomous parking assist technology is witnessing a higher adoption and
the trend is predicted to continue over the forthcoming years. However, autonomous parking
assist technology will also report a steady rise in its demand in the near future, especially in
developed economies of North America and Europe. In terms of the region, North America has
acquired the leadership with the U.S. emerging as the most prominent domestic market for
automotive intelligent park assist systems across the world. Researchers expect this scenario to
stay so over the next few years, states the market report.
Browse Full Report In-Detail
@ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=403
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Upgradation of Models to Keep Demand High
“With the increasing traffic flow, resulting in a significant increase in the number of road
accidents, the demand for automotive intelligent park assist systems has increased substantially,”
says the author of this study. As the concerns regarding safety and comfort among people across
the world increase, the automakers are encouraged to integrate automotive intelligent park assist
systems into their vehicles, which is reflecting greatly on the global market for automotive
intelligent park assist systems.
Over the coming years, the key manufacturers are expected to focus on upgrading their models,
so as to maintain their presence in the market through product differentiating technologies
integration into the vehicles, reports the market study.
High Cost Incurred in Installation to Hamper Growth
On the flip side, the high cost of installation of automotive intelligent park assist systems may
limit their uptake in the near future. However, the increasing number of government regulations
for passenger safety will support the growth of this market in the years to come, states the
research report.
Author
monali raghu
monali raghu349   documents Email
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