The global parking sensors market is registering significant growth due to growing automotive industry and government regulations in various countries for adopting advanced safety standards in vehicles to reduce accidents and easy identification of vacant parking spaces.
Based on type, parking sensors market is categorized into reverse parking sensors, and front parking sensors. Among these, reverse parking sensor type dominated the parking sensors market; owing to increasing number of government regulations for installing reverse parking sensors in vehicles to reduce accidents.
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The growing automotive industry along with supporting government initiatives in various countries such as U.S., Australia, and India, for reducing accidents, are the major factors driving the growth of parking sensors market, globally.
Based on technology, parking sensors market is classified into ultrasonic sensors, electromagnetic sensors, and infrared sensors. Of these, ultrasonic sensors category held the largest share in the market.
Based on application, parking sensors market is categorized into passenger vehicle, light commercial vehicle, and medium & heavy commercial vehicle. Among these, passenger vehicle held the largest share in the market, in 2017. This is attributed to growing demand for passenger vehicles in countries such as China, U.S., Japan and Germany.
Geographically, North America is the largest parking sensors market, due to large customer base in the region. The growing need for improving potential damage to vehicles and ensuring the safety of pedestrians in the region, supporting the growth of North America market.
Some of the key players operating in the parking sensors market are Denso Corporation, Robert Bosch GmbH, Audi AG, Volkswagen AG, Texas Instruments Incorporated, Ford Motor Company, Rosen Hyundai, Parking Dynamics and BMW AG.
The report will provide country-wise parking sensors market analysis. Some of the major countries that is covered in the report include U.S., Canada, China, Japan, India, Thailand, South Korea, Saudi Arabia, U.A.E., Iran, Italy, Germany, U.K., Spain, France, Russia, Brazil, Mexico, Turkey, and South Africa.
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