Smart Parking Revolution : Automotive Intelligence Park Assist System Market to Hit $38.93 Billion by 2030 at 24.9% CAGR
OREGAON, PORTLAND, UNITED STATESย , May 23, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Automotive Intelligence Park Assist System Market by Vehicle Type (Passenger Car, Light Commercial Vehicles, and Heavy Commercial Vehicles), Application (Semi-Autonomous and Fully Autonomous), and Vehicle Class (Mid-priced and Luxury): Global Opportunity Analysis and Industry Forecast, 2021โ2030." According to the report, the global automotive intelligence park assist system industry generated $4.33 billion in 2020, and is estimated to reach $38.93 billion by 2030, witnessing a CAGR of 24.9% from 2021 to 2030.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ - https://www.alliedmarketresearch.com/request-sample/A13654
Automotive intelligence park assist system is an advanced driver assistance system, which is installed in new vehicle models to provide safer & securer parking of the vehicle in tight parking space. Moreover, increased advancement in vehicle & related technology also supplements the automotive intelligence park assist system market during the forecast period. In addition, the installation of intelligence park assist system in a vehicle requires several components, such as sensors, camera, ICs, and other components, whose combination derives an exact image on the inbuilt display system of the vehicle, thus giving a clear view of the parking space.
Factors, such as increased parking concern across the globe, surge in demand for Internet of Things (IoT)-based technology, and increase in number of vehicles, supplement the growth of the global automotive intelligence park assist system market. Moreover, high implementation cost & configuration complexity accompanied with low rate of internet penetration in developing regions hampers the growth of the market. However, rise in investment on building driverless vehicles and increase in government initiatives in building smart cities across the globe create ample opportunities for the growth of the global automotive intelligence park assist system market during the forecast period.
๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ, ๐ซ๐๐ฌ๐ญ๐ซ๐๐ข๐ง๐ญ๐ฌ, ๐๐ง๐ ๐จ๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ
Rise in parking concerns across the globe, demand for internet of things (IoT)-based technology, and rise in number of vehicles drive the growth of the global automotive intelligence park assist system market. However, high implementation cost & configuration complexity and low internet penetration in developing regions restrain the market growth. On the other hand, increase in investments on building driverless vehicles and supportive government initiatives in building smart cities worldwide create new opportunities in the coming years.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/automotive-intelligence-park-assist-system-market/purchase-options
๐๐ก๐ ๐ฉ๐๐ฌ๐ฌ๐๐ง๐ ๐๐ซ ๐๐๐ซ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐๐จ๐ง๐ญ๐ข๐ง๐ฎ๐ ๐ข๐ญ๐ฌ ๐ฅ๐๐๐ ๐ฉ๐จ๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก๐จ๐ฎ๐ญ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Based on vehicle type, the passenger car segment held the largest share in 2020, accounting for more than four-fifths of the global automotive intelligence park assist system market, and is projected to continue its lead position throughout the forecast period. This is due to its vital role in the transportation industry, introduction of safety & security features, and surge in penetration in different countries. However, the heavy commercial vehicles segment is expected to manifest the highest ๐๐๐๐ ๐จ๐ ๐๐.๐% from 2021 to 2030. This is due to stringent regulations by government for safety features that enabled manufacturers use effective ADAS services such as height & pressure sensing system.
๐๐ก๐ ๐ฌ๐๐ฆ๐ข-๐๐ฎ๐ญ๐จ๐ง๐จ๐ฆ๐จ๐ฎ๐ฌ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐๐จ๐ง๐ญ๐ข๐ง๐ฎ๐ ๐ข๐ญ๐ฌ ๐๐จ๐ฆ๐ข๐ง๐๐ง๐๐ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก๐จ๐ฎ๐ญ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Based on application, the semi-autonomous segment contributed to the largest share in 2020, holding nearly 90% of the global automotive intelligence park assist system market, and is projected to continue its dominance throughout the forecast period. This is due to increased inclination of semi-autonomous vehicles worldwide. However, the fully autonomous segment is estimated to portray the largest ๐๐๐๐ ๐จ๐ ๐๐.๐% from 2021 to 2030. This is attributed to introduction of features such as ADAS, connected cars, and others.
๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ฌ๐ญ๐๐ญ๐ฎ๐ฌ ๐๐ฒ ๐๐๐๐
Based on region, North America contributed to the largest market share in 2020, accounting for nearly two-fifths of the global automotive intelligence park assist system market. This is due to increase in technology driven companies and surge in R&D activities. However, Asia-Pacific is expected to register the fastest ๐๐๐๐ ๐จ๐ ๐๐.๐% during the forecast period, owing to rise in need for vehicles equipped with advanced features across the region.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/A13654
๐๐๐๐๐ข๐ง๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ
Aisin Seiki Co., Ltd.
Continental AG
Delphi Automotive
Hitachi Ltd.
Magna International
NXP Semiconductors
Robert Bosch GmbH
Siemens AG
Valeo SA
ZF Friedrichshafen
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ ๐๐ก๐ ๐๐ญ๐ฎ๐๐ฒ
By vehicle type, the heavy commercial vehicles segment is expected to register a significant growth during the forecast period.
Depending on application, the fully autonomous segment is anticipated to exhibit significant growth in the future.
On the basis of vehicle class, the luxury segment is anticipated to exhibit significant growth in the future.
Asia-Pacific is anticipated to register the highest CAGR.
David Correa
Allied Market Research
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