Parking sensors Market is $ 1511 million in 2017 and is estimated to grow at a CAGR of 24.3% during 2018-2023.

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The Global Parking Sensors Market Is 1511
Million In 2017 And Is Estimated To Grow At A
CAGR of 24.3 During 2018-2023.
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2
Europe is forecast to dominate the Parking
Sensors market during the forecast period due to
the increasing sales of high end cars which have
superior quality sensors. due to highly developed
countries such as Germany, UK, and France. The
European parking Sensors market is expected to
reach 2,786m by 2023, growing at a CAGR of
22.9. The growing demand for automated vehicles
in the region has also driven the European
market. In Asia Pacific, the increasing number of
automotive production facilities production
facilities will propel the demand for parking
sensors.
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3
Selected Analysis Done in the Full Report
The aftermarket integration segment will have the
largest share in the Parking Sensors market. The
segments value is forecast to reach 3,870m by
2023, growing at a CAGR of 22.0. The growth of
this segment is due to increasing vehicle
population which drives the automotive industry.
The growth of this segment can b attributed to
the strict governmental regulations concerning
vehicle safety across various regions.
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4
Selected Driving Factors Mentioned in the Full
Report

• Growing demand for park assist systems among
  vehicles will drive the growth of the car parking
  sensor in the forecast period. Cost savings
  related to fuel efficiency spurs the demand for
  the car parking sensor in the forecast period.
• Growth of the automotive industry will propel
  the demand for cars with parking assistance
  during the forecast period.
• Increased adoption of luxury cars will lead to
  the growth of the parking sensors market. The
  concept of smart concept is important for
  mobility in cities and provides a dependable
  revenue generation model.

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5
Key Players of the Parking Sensors Market

• TGS
• P8
• INRIX
• Nedap
• IEM
• And 15 more

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