Parking Sensors Market to Grow at a CAGR of 18.3% from 2013 to 2020, Constricted Parking Spaces Driving Market Growth | Hexa Research

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A new study by Hexa Research estimated that the “global parking sensors market” was worth more than $2,500 million in 2012. Parking sensors assist drivers in parking their vehicles and alert them in case of an obstacle.

Parking sensors are used in automobiles which assist the drivers to park the vehicle safely. The developments in the automobile industry is not only restricted to the improvements in the engine and car design, but they are extended to passenger and pedestrians safety. These factors led to the introduction of the driver assistance systems which alerts the drivers from obstacles. Increasing difficulty to park a vehicle without damaging in lesser parking spaces is expected to drive to market demand over the forecast period. Changing car dimensions is expected to drive the parking sensors market over next six years. Additionally, parking sensors can boost safety and prevents accidents with pedestrians. The sensors can detect various obstacles such as walls, children, pillars and fences, which is expected to provide positive avenues to market demand over the next six years.

As stated by the department of transportation, most of the car accidents occur while reversing. These accidents can be decreased by installing sensors in the rear bumper bar of the car. Sensors are coupled with siren/sound which makes alarm when a vehicle approaches an obstacle. Additionally, LCD is installed in vehicle to determine the distance of the vehicle to the object where driver can be automatically warned and prevent accident. Two to four sensors are used along with control interface and internal siren. Six to eight sensors are used for better coverage and maybe wireless or wired in future.

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Technology Insight
Technologies include electromagnetic and ultrasonic. Ultrasonic technology is used to measure the distance between the vehicles to the object by using sound waves. They also measure the distance between the moving and stationary objects. Two to four sensors are fitted to the bumper of the vehicle and painted with the same color of the bumper where the sensors can receive and send ultrasonic signals, and detect any obstacle that enters the signals. Furthermore, the signal is converted as alarm to alert the driver and avoids a potential accident. These sensors detect obstacles of a limited range. Additionally, installing ultrasonic sensors in vehicle bumper is very difficult.

Electromagnetic sensors are used to detect the obstacles at a greater range. They are installed by placing a transceiver adhesive strip along the inner side of the bumper. They eliminate making holes for installing sensor which preserves the appearance of the vehicle. When the vehicle is in reverse gear, magnetic field is generated by the control unit and is transferred to the adhesive strip which helps in detecting the obstacles. The control unit detects obstacles such as person, wall, vehicle and etc and sends series of audible tones to alert the driver and preventing a potential accident. These sensors detect objects only when the vehicle is in motion and provides real time feedback. These sensors have the option to switch on and off whenever required. 

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Installation Insight
Parking sensors can be installed by the manufacturer or through service centers. Installation through aftermarket services is cost effective when compared to original equipment manufacturer. Genuine sensors are installed by original equipment manufacturers which give efficient output and the sensors installed by aftermarket services may not be genuine which does not effective results.

Regional Insights
North America and Europe is expected to grow at a significant rate. Asia-Pacific is expected to grow considerably over the forecast period. Increasing awareness of application of parking sensors, growth in automobile industry and favorable government rules & regulations are expected to drive the parking sensors market in India over the forecast period. 

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Competitive Insights
The key players in the parking sensors market are Baumer, Branson Ultrasonic Corp, Accusonics Inc., Cambridge Ultrasonics, Crest Ultrasonics Corp., Honeywell Process Solutions, Hielscher Ultrasonics Gmbh, Siemens Ag, Philips Medical Systems, Hielscher USA Inc. and Weber Ultrasonics Gmbh. For example BMW provides the park distance control and alerts the driver when the vehicle is 30cms away from an obstacle.

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