Global Parking Sensors Market Expected to Reach USD 9,782.9 Million by 2020 Investing

Global Parking Sensors Market Expected to Reach USD 9,782.9 Million by 2020

BY suppermetalshell Luo • June 28, 2016
suppermetalshell Luo

suppermetalshell Luo

  • 5 Articles
  • 14 Views
  • Joined June 28, 2016

The global market for parking sensors is expected to reach USD 9,782.9 million by 2020, according to a new study by Grand View Research, Inc. Parking sensors prevent physical damage to the vehicle by alerting the driver when the automotive approaches an obstacle. Furthermore, they help prevent potential injury to pedestrians. These features are particularly useful in light of reducing parking spaces and changing dimensions of the average car, thus acting as a key driver for industry growth.

Parking sensors employing ultrasonic technology accounted for 65.1% of the overall market share in 2012. Electromagnetic parking sensors are expected to grow faster than the global average at a CAGR of 19.3% from 2013 to 2020. Installation by original equipment manufacturers (OEM) accounted for 80.7% of the market in 2012. The price range for these installations is much higher as compared to their aftermarket counterparts, thereby contributing largely to revenue.

Companies operating in the market include parking sensor manufacturers as well as OEMs. Major automotive companies offer parking sensor systems, with optional LCD displays that show the distance between the vehicle and obstacle. Industry participants offer Advanced Driver Assistance Systems (ADAS), in order for the driver to make an informed decision. Key players in the market include Continental AG, Freescale Semiconductor Ltd., Robert Bosch GmbH, Texas Instruments Inc., BMW, Audi and Volkswagen among others.

Get More Information:

http://www.gosreports.com/global-parking-sensors-market-research-report-2016/

For any enquires before buying, connect with us @ info@gosreports.com

About Gosreports

Gos International Inc. is one of the leading distributors of market research reports in the world today. We host more than 50,000 research products from the world’s top publication houses.

Our web-based platform offers an unmatched collection of market research reports,company reviews,databooks,articles, periodical publications, databases, and much more, delivered by the successful and well-established publishers with whom we are currently in partnership.

 

Contacts Us

Joanna | Executive - International Business and partner Relations

E-mail: info@gosreports.com | Tel: 001-510-400-8520

Web: www.gosreports.com




About InwebArticles

InwebArticles brings to you creativity at its best. Expert writers and InWeb publishers have brought together a podium where only useful, genuine and media-enriched pages are posted.
More..

Contact us




Newsletter

Subscribe to newsletter