Mar 16, 2021, 10:30 ET
NEW YORK, March 16, 2021 /PRNewswire/ -- Technavio has been monitoring the automotive parking sensors market and it is poised to grow by USD 14.47 bn during 2020-2024, progressing at a CAGR of almost 27% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have at Par impact on the automotive parking sensors market.
Frequently Asked Questions:
- What are the major trends in the market?
Emergence of smart parking systems is a major trend driving the growth of the market.
- At what rate is the market projected to grow?
The market will accelerate at a CAGR of almost 27% and the incremental growth of the market is anticipated to be USD 14.47 bn.
- Who are the top players in the market?
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 SA., are some of the major market participants.
- What is the key market driver?
The demand for assisted parking is one of the major factors driving the market.
- How big is the North America market?
The North America region will contribute to 35% of the market share.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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 SA. are some of the major market participants. The demand for assisted-parking will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this automotive parking sensors market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Automotive Parking Sensors Market 2020-2024: Segmentation
Automotive Parking Sensors Market is segmented as below:
- Ultrasonic Sensors
- Electromagnetic Sensors
- Passenger Cars
- Commercial Vehicles
- Geographic Landscape
- North America
- South America
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Automotive Parking Sensors Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive parking sensors market report covers the following areas:
- Automotive Parking Sensors Market Size
- Automotive Parking Sensors Market Trends
- Automotive Parking Sensors Market Industry Analysis
This study identifies emergence of smart parking systems as one of the prime reasons driving the automotive parking sensors market growth during the next few years.
Automotive Parking Sensors Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist automotive parking sensors market growth during the next five years
- Estimation of the automotive parking sensors market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive parking sensors market across blank
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive parking sensors market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Ultrasonic sensors - Market size and forecast 2019-2024
- Electromagnetic sensors - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Application
- Market segments
- Comparison by Application placement
- Passenger cars - Market size and forecast 2019-2024
- Commercial vehicles - Market size and forecast 2019-2024
- Market opportunity by Application
Market Segmentation by End-user
- Market segments
- Comparison by End-user placement
- OEM - Market size and forecast 2019-2024
- Aftermarket - Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendor Analysis
- Market positioning of vendors
- 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
- Valeo SA
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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