Surge In Demand Of Automatic Parking Features In Vehicles Positively Driving the Global Parking Sensor Market: Ken Research

Parking sensors refers to the contiguity sensors for road vehicles intended to alert the driver of impediments while parking. These systems majorly use either electromagnetic or ultrasonic sensors. Parking systems feature ultrasonic proximity detectors to measure the distances to neighbouring objects via sensors located in the front and/or rear bumper fascias or visually curtailed within adjacent grills or recesses. On the other hand, the electromagnetic sensors majorly rely on the vehicles which are moving slowly and smoothly towards the object to be avoided.

Additionally, once an obstacle has been detected, the sensor continues to signal the presence of the obstacle even if the vehicle momentarily stops. Also, if the vehicle starts moving backwards the alarm signal becomes louder as the obstacle comes near. Electromagnetic parking sensors are often sold as not requiring any holes to be drilled offering a unique design that discreetly mounts on the inner side of the bumper preserving the brand new look of the vehicle.

According to the report analysis, ‘Global Parking Sensors Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use’ states that Heraeus Sensor Technology, Xvision, Texas Instruments, Steelmate Automotive, Steelmate, and many more are some of the major companies which are presently operating and dominating the parking sensor market globally. It has been witnessed that the report covers a competitive landscape which helps in analysing the strategies and policies of government as well as corporates, in establishing the several research and development programs, also in improving the qualitative and quantitative measures of such, spreading the awareness connected to the applications and features, and increasing the applications and benefits of such and forming the effective strategies for the companies entering into the new market.

Moreover, the report also covers the various information for each of the above mentioned company namely company profile, products & services overview, sales data list, Sales Revenue, Sales Volume, Price, Cost, Gross Margin and many more. On the other hand, the report also provides a detailed coverage over the Parking Sensors industry and main market trends. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Parking Sensors by geography. The report splits the market size, by volume and value, on the basis of application type and geography.

Furthermore, the report also analyse the global market from 5 geographies namely Asia-Pacific (China, Southeast Asia, India, Japan, Korea, Western Asia), Europe (Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland), North America (United States, Canada, Mexico), Middle East & Africa (GCC, North Africa, South Africa), South America (Brazil, Argentina, Columbia, Chile, Peru).

In the near future, analysts anticipate that the overall global parking sensor market will increase at a positive compound annual growth rate (CAGR) and the market will observe a sudden boost in the demand of parking sensors majorly due to increasing demand of top end models of the vehicles which are majorly equipped with the parking sensors coupled with the strict government regulatory norms adopted by the countries to enhance the safety of a vehicle and to reduce down the number of fatalities from the road accidents. Moreover, the technological advancement and rising usage of semi-conductors in the vehicles to operate the vehicles through sensors and growing preference of automatic parking feature in vehicles globally.

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Global Parking Sensors Market

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