The global demand for Automotive Intelligence Park Assist System Market is presumed to reach the market size of nearly USD 33.65 BN by 2028 from USD 6.71 BN in 2021 with a CAGR of 25.9% under the study period 2022 - 2028.
The automotive intelligence park assist system is an advanced driver assistance system (ADAS) that gives a vehicle an intelligent parking capability. This device ensures the vehicle's safety and security while also assisting drivers with parking. The automotive intelligence park assist system includes a combination of camera, in-dash screen, buttons, sensors, and other controls, which enable the car to steer itself into a parking space with little input from the user. A combination of a camera and an in-dash screen is used in the automotive intelligence park assist system. Installing an intelligence park assist system in a car allows the driver to focus on other tasks like managing the throttle and brakes and assessing the surroundings. The system uses footage from the surround-view monitor, which provides drivers with a virtual birds-eye perspective of their vehicle, helping them park more effortlessly. Buttons, sensors, and other controls let the car manoeuvre into a parking spot with minimal user input.
Market Dynamics
Increased parking concerns worldwide, a surge in demand for IoT-based technologies, and an increase in the number of vehicles contribute to the automotive intelligence park assist system market's growth. Increased government attempts to build smart cities worldwide, and increased investment in developing driverless vehicles are projected to fuel the market for automotive intelligence park assist systems. The market's growth might get hampered due to high implementation costs and configuration complexity, and poor internet penetration in developing nations.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of automotive intelligence park assist system. The growth and trends of automotive intelligence park assist system industry provide a holistic approach to this study.
Market Segmentation
This section of the automotive intelligence park assist system market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Vehicle Type
- Passenger Car
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Application
- Semi-Autonomous
- Fully Autonomous
By Vehicle Class
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Automotive Intelligence Park Assist System market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Automotive Intelligence Park Assist System Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the automotive intelligence park assist system market include Aisin Seiki Co., Ltd., Continental AG, Delphi Automotive, Hitachi Ltd., Magna International, NXP Semiconductors, Robert Bosch GmbH, Siemens AG, Valeo SA, and ZF Friedrichshafen. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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