Parking Sensors analysis research and trends report for 2017-2024

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Parking Sensors Market share research by
applications and regions for 2017-2024 Global
Market Insights Inc.
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Regional Analysis of Parking Sensors Market

• North America is expected to dominate the parking
  sensors market during the forecast period. The
  rapid growth is attributed to increased sales of
  mid- and high-level cars and rising population of
  baby boomers resultant adoption of luxury cars
  by them is expected to propel parking sensors
  market growth in the region. The introduction of
  legislations compelling the OEMs to produce
  advanced systems is expected to propel the
  growth. The parking sensors market growth in the
  Asia Pacific region is anticipated to be driven
  by a consistent increase in demand for mid-sized
  and compact vehicles equipped with safety
  features, particularly in China and India.

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Application Analysis of Parking Sensors Market

• The parking sensors market is segmented on the
  basis of installation and technology. On the
  basis of technology, these components are
  classified into electromagnetic and ultrasound.
  The ultrasonic sensors use sound waves to sense
  obstacles and electromagnetic type uses magnetic
  waves. The electromagnetic type is equipped with
  maintenance system and is self-diagnostic.
  Superior design due to transceiver adhesive
  strips and preservation of vehicles aesthetic
  appearance are expected to drive parking sensors
  market growth during the forecast period.
• Parking sensors are proximity sensors required in
  vehicles to assist the driver for hassle-free and
  safe car parking. These are installed in the
  cars rear bumper and help in the detection of
  objects, which are concealed from the view
  mitigate the risk of accidents when the car is in
  the reverse mode. In addition to its benefits,
  time effectiveness, fuel efficiency, and cost
  savings are expected to be major factors that
  drive the parking sensors market during the
  forecast period.

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Competitive Market Share of Parking Sensors
Market

• Some of the key parking sensors market players
  include Abbott Analog Devices, Inc., Volkswagen,
  Denso Corporation, Honda, Hyundai, Continental
  AG, Robert Bosch GmbH, Ford Motor Company, Audi,
  Mercedes Benz, NXP Semiconductors N.V., Texas
  Instruments, Inc., Freescale Semiconductor, Ltd.,
  and BMW.

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