The Digitalization is making market trends for the Smart things including the Smart Automobiles to rise exponentially. LiDARs are widely required in making vehicles autonomous, thus growth for the need of better sensors in the automotive market and increase in administrative regulations mandating such installations are affecting market growth. As the demand are still limited, the cost of the system are high which are inturn, limiting the market growth.
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Due to the presence of a large number of OEMs and LIDAR manufacturers in Europe region, it is expected to dominate the global market, followed by the Americas. The major players in the Europe market are taking initiatives to expand by entering into partnerships and collaborations with both, global and regional players.
The major Key Players are:- Robert Bosch GmbH, Continental AG, Denso Corp., First Sensor AG, Hella KGaA Hueck & Co., Leddartech, Novariant, Inc., Phantom Intelligence, Quanergy Systems, Inc., Velodyne LiDAR, Inc.
The Automotive LIDAR Sensors Market Key Segments are:
By Technology
• Solid State LiDAR
• Mechanical LiDAR
By Application
• Autonomous Cars
• Semi-autonomous Cars
By Geography
• North America
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o U.S
o Mexico
o Canada
• Europe
o U.K
o Germany
o France
o Russia
o Rest of Europe
• Asia-Pacific
o Japan
o China
o India
o Australia
o Rest of Asia-Pacific
• LAMEA
o Latin America
o Middle East
o Africa
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Industry InsightAccording to Market Research Future (MRFR), the Automotive Intelligence Park Assist System Market is projected to touch a valuation of US$22.30 Billion by 2023, growing at 6.3% CAGR throughout the forecast period (2018-2023).
At this pace, the opportunities in the worldwide Automotive Intelligence Park Assist System market are estimated to swell up with high valuation by the end of the year 2023.Top Impacting Factors: Automotive Intelligence Park Assist SystemThe study signifies that a significant rise in the traffic flow has led to a substantial rise in the number of road accidents, which is influencing the global automotive intelligent park assist systems market remarkably.
Also, with the rising concerns among people over safety and comfort across the globe, automobile manufacturers are encouraged to combine automotive intelligent park assist systems into the vehicles and resulting in a massive rise in the demand for automotive intelligent park assist systems worldwide.Furthermore, some more essential factors came into light while evaluating the market and its prospects, is that mounting uses of wide-angle camera technology in vehicles, rising trend of vehicle electrification, and some government initiatives to reduce road accidents have also been responsible in shaping the future of the market.
In fact, the growing demand for autonomous and semi-autonomous parking systems, improving the economy in emerging nations, and growing population are also providing enough opportunity of growth to this market so that it can gain more and more shares in the coming years.Despite these factors, the market for Automotive Intelligence Park Assist System could hit by some restraints while growing owing to factors such as lack of skilled drivers, lack of standard protocols, and sophisticated design of the system.
Restrictive growth might occur during the years 2018 to 2023.Top Market ContendersThe global automotive intelligence park assist system market is highly consolidated as each of the regional markets is led by some of the best market contenders.
Valeo (France), Siemens AG (Germany), ZF Friedrichshafen AG (Germany), Robert Bosch GmbH (Germany), Continental AG (Germany), Magna International (Canada), Delphi Automotive (Germany) Toshiba Corporation (Japan), HELLA GmbH & Co. KGaA (Germany), NXP Semiconductors (Netherlands), are some of the prominent names listed in MRFR’s study.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7431 Segmentation of Market: Automotive Intelligence Park Assist SystemFrom the viewpoint of the segmental study of the global Automotive Intelligence Park Assist System, various segments have been involved, such as technology and component.Depending on the technology segment, the market has been segregated into autonomous and semi-autonomous parking assist.
