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Global Parking Sensor Market to reach USD 10,390.19 million by the end of 2029.

Global Parking Sensor Market Size study & Forecast, by Type (Reverse Parking, Front Parking, Others), By Technology (Ultrasonic Sensors, Electromagnetic Sensors, Infrared Sensors, Others), By Component (Displays, Control Modules, Sensors, Others), By Sales Channel (OEM, Aftermarket), By Application (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), and Regional Analysis, 2022-2029

Product Code: ICTNGT-19148870
Publish Date: 1-04-2023
Page: 200

Global Parking Sensor Market is valued at approximately USD 3,224.45 million in 2021 and is anticipated to grow with a healthy growth rate of more than 15.75% over the forecast period 2022-2029. Parking sensors are proximity devices made for cars that warn the driver of impending impediments when they park. These parking sensors make use of electromagnetic or ultrasonic sensors. These systems activate ultrasonic proximity detectors, which use sensors in the back or front bumper to gauge the distances to adjacent objects. The primary drivers propelling the growth of the parking sensor market globally are the expanding automobile sector and the support of government initiatives in numerous nations aimed at minimizing accidents.

In addition, Parking sensors are frequently utilized in a variety of applications, including passenger automobiles, light commercial vehicles, and heavy commercial vehicles, in order to decrease accidents and quickly discover available parking places. This is one of the main aspects that is anticipated to fuel the market for parking sensors. According to Statista, The market for the manufacture of automobiles worldwide was projected to be worth $2.86 trillion in 2021. It is predicted that the market will reach $2.95 trillion in 2022. This gradually implies that as more cars are produced, the demand for parking sensors would rise as well. Furthermore, the use of advanced driver assistance systems (ADAS) and artificial intelligence and increasing investments towards the production of the sensors will open up many chances to stimulate the growth of parking sensors during the forecast period. However, the fluctuation in the price of the raw materials needed to make parking sensors, as well as rising installation costs and R&D expenditures, are restraining the market growth over the forecast period of 2022-2029.

The key regions considered for the Global Parking Sensor Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the growing instances of probable driver error-related harm and expanding use of sensor in this region’s automotive industry. Whereas, Asia Pacific is also expected to grow at the highest growth rate over the forecasting period. Factors such as due to a rise in the popularity of small and medium-sized automobiles with safety features are burgeoning the market growth in the forecasting years.

Major market players included in this report are:
Robert Bosch GmbH
Denso Corporation
Texas Instruments Incorporated
Murata Manufacturing Co., Ltd.
Gentex Corporation
Analog Devices, Inc.
Ford Motor Company
Hyundai Motor India
American Honda Motor Co., Inc.

Recent Developments in the Market:
 In August 2021, Continental AG Company purchased a minority share in Kopernikus Automotive to develop an autonomous parking process supported by smart infrastructure-based technologies and car sensor data.
 In October 2020, Robert Bosch GmbH launched a new ADAS and body electronics catalogue with a variety of technologies, such as park pilot ultrasonic parking sensors. This catalogue was created with the intention of offering precise details, excellent visibility, and easy access to photos and application data for about 230 ADAS and body electronics parts.

Global Parking Sensor Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Technology, Component, Sales Channel, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Reverse Parking
Front Parking

By Technology:
Ultrasonic Sensors
Electromagnetic Sensors
Infrared Sensors

By Component:
Control Modules Sensors

By Sales Channel:

By Application:
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Million)
1.2.1. Parking Sensor Market, by Region, 2019-2029 (USD Million)
1.2.2. Parking Sensor Market, by Type, 2019-2029 (USD Million)
1.2.3. Parking Sensor Market, by Technology, 2019-2029 (USD Million)
1.2.4. Parking Sensor Market, by Component, 2019-2029 (USD Million)
1.2.5. Parking Sensor Market, by Sales Channel, 2019-2029 (USD Million)
1.2.6. Parking Sensor Market, by Application, 2019-2029 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Parking Sensor Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Parking Sensor Market Dynamics
3.1. Parking Sensor Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing application of parking sensors in a variety of applications. Increasing government regulations.
3.1.2. Market Challenges High cost of raw materials for parking sensors.
3.1.3. Market Opportunities Increasing investments towards the production of the sensors. Growing adoption of advanced technologies.
Chapter 4. Global Parking Sensor Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Parking Sensor Market, by Type
6.1. Market Snapshot
6.2. Global Parking Sensor Market by Type, Performance – Potential Analysis
6.3. Global Parking Sensor Market Estimates & Forecasts by Type 2019-2029 (USD Million)
6.4. Parking Sensor Market, Sub Segment Analysis
6.4.1. Reverse Parking
6.4.2. Front Parking
6.4.3. Others
Chapter 7. Global Parking Sensor Market, by Technology
7.1. Market Snapshot
7.2. Global Parking Sensor Market by Technology, Performance – Potential Analysis
7.3. Global Parking Sensor Market Estimates & Forecasts by Technology 2019-2029 (USD Million)
7.4. Parking Sensor Market, Sub Segment Analysis
7.4.1. Ultrasonic Sensors
7.4.2. Electromagnetic Sensors
7.4.3. Infrared Sensors
7.4.4. Others
Chapter 8. Global Parking Sensor Market, by Component
8.1. Market Snapshot
8.2. Global Parking Sensor Market by Component, Performance – Potential Analysis
8.3. Global Parking Sensor Market Estimates & Forecasts by Component 2019-2029 (USD Million)
8.4. Parking Sensor Market, Sub Segment Analysis
8.4.1. Displays
8.4.2. Control module Sensors
8.4.3. Others
Chapter 9. Global Parking Sensor Market, by Sales Channel
9.1. Market Snapshot
9.2. Global Parking Sensor Market by Sales Channel, Performance – Potential Analysis
9.3. Global Parking Sensor Market Estimates & Forecasts by Sales Channel 2019-2029 (USD Million)
9.4. Parking Sensor Market, Sub Segment Analysis
9.4.1. OEM
9.4.2. Aftermarket
Chapter 10. Global Parking Sensor Market, by Application
10.1. Market Snapshot
10.2. Global Parking Sensor Market by Application, Performance – Potential Analysis
10.3. Global Parking Sensor Market Estimates & Forecasts by Application 2019-2029 (USD Million)
10.4. Parking Sensor Market, Sub Segment Analysis
10.4.1. Passenger cars
10.4.2. Light Commercial Vehicles
10.4.3. Heavy Commercial Vehicles
Chapter 11. Global Parking Sensor Market, Regional Analysis
11.1. Parking Sensor Market, Regional Market Snapshot
11.2. North America Parking Sensor Market
11.2.1. U.S. Parking Sensor Market Type breakdown estimates & forecasts, 2019-2029 Technology breakdown estimates & forecasts, 2019-2029 Component breakdown estimates & forecasts, 2019-2029 Sales Channel breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
11.2.2. Canada Parking Sensor Market
11.3. Europe Parking Sensor Market Snapshot
11.3.1. U.K. Parking Sensor Market
11.3.2. Germany Parking Sensor Market
11.3.3. France Parking Sensor Market
11.3.4. Spain Parking Sensor Market
11.3.5. Italy Parking Sensor Market
11.3.6. Rest of Europe Parking Sensor Market
11.4. Asia-Pacific Parking Sensor Market Snapshot
11.4.1. China Parking Sensor Market
11.4.2. India Parking Sensor Market
11.4.3. Japan Parking Sensor Market
11.4.4. Australia Parking Sensor Market
11.4.5. South Korea Parking Sensor Market
11.4.6. Rest of Asia Pacific Parking Sensor Market
11.5. Latin America Parking Sensor Market Snapshot
11.5.1. Brazil Parking Sensor Market
11.5.2. Mexico Parking Sensor Market
11.5.3. Rest of Latin America Parking Sensor Market
11.6. Rest of The World Parking Sensor Market

Chapter 12. Competitive Intelligence
12.1. Top Market Strategies
12.2. Company Profiles
12.2.1. Robert Bosch GmbH Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
12.2.2. Denso Corporation
12.2.3. Texas Instruments Incorporated
12.2.4. Murata Manufacturing Co., Ltd.
12.2.5. Gentex Corporation
12.2.6. Analog Devices, Inc.
12.2.7. Mercedes-Benz
12.2.8. Ford Motor Company
12.2.9. Hyundai Motor India
12.2.10. American Honda Motor Co., Inc.
Chapter 13. Research Process
13.1. Research Process
13.1.1. Data Mining
13.1.2. Analysis
13.1.3. Market Estimation
13.1.4. Validation
13.1.5. Publishing
13.2. Research Attributes
13.3. Research Assumption

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Data Collection:
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To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
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Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
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