Global Automotive Parking Sensors Market Growth at CAGR of 23.9%, 2016-2020 with Bosch, DENSO, Murata Manufacturing, NXP Semiconductors, Texas Instruments & Valeo Dominating

Dublin, Dec. 22, 2016 -- Research and Markets has announced the addition of the "Global Automotive Parking Sensors Market 2016-2020" report to their offering.

The global automotive parking sensors market to grow at a CAGR of 23.90% during the period 2016-2020.

The report, Global Automotive Parking Sensors Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenue of automotive parking sensors across all regions.

One of latest trends in the market is adoption of LiDAR in parking assist system. The exploration of LiDAR technology has revealed several proven beneficial results of LiDAR's capabilities compared with other sensors that are available in the market. In addition, the continuous need for better sensors in the automotive industry has led to the advent and growth of automotive LiDAR sensors. LiDAR has better capabilities with respect to the detection of objects and even during the complete absence of light. The table below shows the application of sensors for different ADAS systems.

According to the report, one of the primary drivers in the market is legislation standards for backup camera to push adoption of parking sensors. Advanced safety systems, such as LDWS, NVS, ACC, BSD, driver monitoring systems, help minimize the impact of collisions, fatalities, and improve overall vehicle safety. Hence, with governments in Europe, the Americas, and APAC implementing stringent safety regulations, the development and adoption of these systems is expected to increase over the forecast period.

Further, the report states that one major challenge in the market is overdependence on safety systems is impacting driving skills. The introduction of the parking sensors system in automobiles has increased the complexity of vehicle consoles and the likelihood of failure of a system component, spontaneous error by the driver, and errors in the system design. Driver assistance systems combined with cameras and sensors are being implemented to replace manual control with automatic devices. However, these systems still require human involvement for adjustments and supervision.

The implementation of advanced and complicated in-vehicle control systems makes it more important and difficult for human operators to control the system. The acceptance of these systems varies with each driver. Though the total elimination of the driver from the loop has not been accepted by many (potential) end-users, these systems are becoming a part of consumers' social status. As a result, poorly fitted/designed sensors and display units inside vehicles adversely affect consumers' inclination toward these systems.

Key vendors

• Bosch
• DENSO
• Murata Manufacturing
• NXP Semiconductors
• Texas Instruments
• Valeo

Other prominent vendors

• Black Cat Security
• Nippon Audiotronix
• Parking Dynamics
• Proxel

Key Topics Covered:

Part 01: Executive summary

Part 02: Scope of the report

Part 03: Market research methodology

Part 04: Introduction

Part 05: Market landscape

Part 06: Market segmentation by end users

Part 07: Market segmentation by sensor type

Part 08: Geographical segmentation

Part 09: Market drivers

Part 10: Market challenges

Part 11: Market trends

Part 12: Vendor landscape

Part 13: Key vendor analysis

Part 14: Appendix

For more information about this report visit http://www.researchandmarkets.com/research/99fmsv/global_automotive

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         Related Topics: Telematics and Vehicle Electronics, Automotive Safety, Automotive Sensors