Parking sensors Market will witness Faster Growth with a CAGR of more than 19% from 2013 to 2020: Hexa Reports

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.

Based on technology, Hexa Research segments the total global parking sensors market into ultrasonic and electromagnetic sensors. Ultrasonic parking sensors contributed to more than 65% of the total market share in 2012. They are likely to continue market dominance in the coming years. However, electromagnetic parking sensors will witness faster growth with a CAGR of more than 19% from 2013 to 2020. These sensors retain the aesthetic appeal of the vehicle and are self diagnostic. They also come with a maintenance system.

They prevent pedestrian injury. Increasing space crunch and altered dimensions of common cars are paving the way for higher demand of parking sensors.

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Approximately 80% of the market comprised of installations made by Original Equipment Manufacturers (OEMs). They offer better construction and fitment and are therefore highly preferred. These installations are priced much higher than those available in the aftermarket segment, thus contributing to higher overall revenues.

Hexa Research observed that North America, with more than 38% share, was a leading region in the global parking sensors market in 2012. The region is expected to continue its leadership in future owing to regulatory initiatives. European region will generate demand for parking sensors in future due to rising sales of top-end vehicles that are fitted with high-quality parking sensors. Asia Pacific is likely to account for the fastest rise in future and will grow at a CAGR of 20% from 2013 to 2020.

Key market operators in the global parking sensors industry are Texas Instruments, Inc., Audi, Freescale Semiconductor Ltd., Continental AG, Volkswagen, etc. The market includes both, manufacturers of parking sensors and OEMs.

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Table of Contents

Chapter 1 Executive Summary
1.1 Parking Sensors – Industry Summary & Critical Success Factors (CSFs)

Chapter 2 Parking Sensors Industry Outlook
2.1 Market Segmentation
2.2 Market Size and Growth Prospects
2.3 Parking Sensors Value Chain Analysis
2.4 Parking Sensors Market Dynamics
2.5 Key Opportunities Prioritized
2.6 Industry Analysis – Porter’s
2.7 Parking Sensors – Company Market Share Analysis
2.8 Parking Sensors – PESTEL Analysis

Chapter 3 Parking Sensors Technology Outlook
3.1 Ultrasonic
3.2 Electromagnetic

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Chapter 4 Parking Sensors Installation Outlook
4.1 OEM
4.2 Aftermarket

Chapter 5 Parking Sensors Regional Outlook 
5.1 North America 
5.2 Europe
5.3 Asia Pacific
5.4 RoW

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Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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