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Smart parking market set for rapid growth according to new research report

Smart parking market set for rapid growth according to new research report

Smart Parking Market report represents the revenue opportunities in the market through to 2021, highlights the market size and growth by technology, geography, type and size. The report outlines the evolution of the industry and identifies and assesses the best performing vendors in the market.

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Study on Smart Parking Market highlights key players such as Robert Bosch GmbH, Continental AG, Valeo S.A., Delphi Automotive, Aisin Seiki, Siemens AG, Xerox Corporation, Cubic Corporation, Amano Corporation, Kapsch TrafficCom AG, TKG Group, Nedap , dentification Systems.

The passenger car smart parking market is projected to grow at a CAGR of 17.94%, to reach a market size of USD 5.25 billion by 2021. Worldwide vehicle production has increased from 84.2 million in 2012 to 90.8 million in 2015.

Furthermore since 2012, with a growth of 8.6%, total passenger car production increased to 68.5 million in 2015.

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This rapid increase in the number of cars on the road has not led to a similar increase in availability of parking space. In order to accommodate more vehicles, parking garages provide tight parking spaces.

Many cities are planning parking infrastructure more efficiently. This will drive the demand for passenger cars equipped with smart park assist system.

The factors restraining the market from growing are the high cost of developing a smart park assist system, which thereby increases the cost of a passenger car.

Get sample copy of this research at www.rnrmarketresearch.com/contacts…mple?rname=894198

Parking sensors dominate the smart parking component market for passenger cars. Parking sensors not only help in reducing the damage caused to vehicle during parking and reverse but can also help in reducing traffic congestion by offering a better view or idea about the rear environment by alerting the driver.

The number of parking sensors used in a smart park assist system varies according to OEM and vehicle model. In order to reduce accidents caused by vehicles reversing out of a parking space, the U.S.

National Highway Traffic Safety Administration (NHTSA) ruled that all new passenger cars shall be equipped with rear view cameras from 2018 onwards. Even the Indian Ministry of Road Transport and Highway (MoRTH) is expected to make rear view sensors mandatory for all passenger vehicles in India.

Governments across the world are in the process of implementing regulations to make reverse parking sensors mandatory in vehicles.

Key Points From Table Of Content:

6 Automotive Park Assist System Market, By System Type & Region
6.1 Introduction
6.2 Automotive Park Assist Market, By System Type & Region
6.2.1 Guided Park Assist System, By Region
6.2.1.1 Asia-Oceania: Guided Park Assist Market, By Country
6.2.1.2 Europe: Guided Park Assist Market, By Country
6.2.1.3 North America: Guided Park Assist Market, By Country
6.2.1.4 RoW: Guided Park Assist Market, By Country
6.2.2 Smart Park Assist System, By Region
6.2.2.1 Asia–Oceania: Smart Park Assist System, By Country
6.2.2.2 Europe: Smart Park Assist System, By Country
6.2.2.3 North America: Smart Park Assist System, By Country
6.2.2.4 Rest of the World (RoW): Smart Park Assist System, By Country

7 Passenger Car Smart Parking Market, By Component
7.1 Introduction
7.2 Passenger Car Smart Parking Market, By Component
7.2.1 Parking Sensors Market, By Region
7.2.2 Steering Angle Sensors Market, By Region
7.2.3 Electronic Control Unit (ECU) Market, By Region
7.2.4 Display Unit Market, By Region

Access Report at www.rnrmarketresearch.com/contacts…ount?rname=894198

8 Passenger Car Smart Parking Market, By Sensor Technology
8.1 Introduction
8.2 Passenger Car Smart Parking Market, By Sensor Technology
8.2.1 Ultrasonic Sensor Market
8.2.1.1 Asia-Oceania: Ultrasonic Sensor Market Size, By Country
8.2.1.2 Europe: Ultrasonic Sensor Market Size, By Country
8.2.1.3 North America: Ultrasonic Market Size, By Country
8.2.1.4 Rest of the World: Ultrasonic Sensor Market Size, By Country
8.2.2 Radar Sensor Market
8.2.2.1 Asia-Oceania: Radar Sensor Market Size, By Country
8.2.2.2 Europe: Radar Sensor Market Size, By Country
8.2.2.3 North America: Radar Sensor Market Size, By Country
8.2.2.4 Rest of the World: Radar Sensor Market Size, By Country
8.2.3 Image Sensor Market
8.2.3.1 Asia-Oceania: Image Sensor Market Size, By Country
8.2.3.2 Europe: Image Sensor Market Size, By Country
8.2.3.3 North America: Image Sensor Market Size, By Country
8.2.3.4 Rest of the World: Image Sensor Market Size, By Country

The smart parking market has been segmented based on park assist system type (guided park assist, smart park assist), components (parking sensors, steering angle sensors, display units, ECU), sensor technology (ultrasonic, radar and image), parking management market by vertical (government and commercial) and parking management solutions (security and surveillance, valet parking management, parking reservation management and license plate recognition). The market has been given in terms of volume (000/million units) and value (USD million/billion).

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