1. Market Research
  2. > Manufacturing
  3. > Electronic Component Market Trends
Parking Sensors Market Analysis By Technology (Ultrasonic, Electromagnetic) And Segment Forecasts To 2020

Parking Sensors Market Analysis By Technology (Ultrasonic, Electromagnetic) And Segment Forecasts To 2020

  • May 2016
  • 72 pages
  • ID: 3339537
  • Format: PDF
  • Grand View Research

Summary

Table of Contents

The global market for parking sensors is expected to reach USD 9,782.9 million by 2020. Parking sensors prevent physical damage to the vehicle by alerting the driver when the automotive approaches an obstacle. Furthermore, they help prevent potential injury to pedestrians. These features are particularly useful in light of reducing parking spaces and changing dimensions of the average car, thus acting as a key driver for industry growth.

Parking sensors employing ultrasonic technology accounted for 65.1% of the overall market share in 2012. Electromagnetic parking sensors are expected to grow faster than the global average at a CAGR of 19.3% from 2013 to 2020. Installation by original equipment manufacturers (OEM) accounted for 80.7% of the market in 2012. The price range for these installations is much higher as compared to their aftermarket counterparts, thereby contributing largely to revenue.

Further Key findings from the study suggest:

The global parking sensors market was estimated to be valued at USD 2,546 million in 2012, and is expected to grow at a CAGR of 18.4% from 2013 to 2020.

Ultrasonic parking sensors are expected to continue dominating the global market over the forecast period. However, electromagnetic technology is expected to be a fast growing segment, primarily because it helps combat issues such as presence of visible parts on the vehicle’s bumper. Additionally, electromagnetic sensors are self diagnostic and are equipped with a maintenance system. Preservation of the aesthetic appearance of the automotive coupled with superior design in the form of a transceiver adhesive strip is expected to be the chief driver for this segment.

Aftermarket parking sensors are cost effective as compared to those installed by the OEM, since the latter are made specific to the make and model of the vehicle. OEM installed parking sensors ensure superior construction and fitment, as a result of which they are expected to contribute to majority of the global industry revenue in the coming years.

North America accounted for 38.5% of the global market share in 2012, and is expected to continue being the largest regional segment over the forecast period. Initiatives by regulatory authorities in the region are expected to be the key driving force for regional market growth. Asia Pacific is expected to be the fastest growing region, with an estimated CAGR of 20.1% from 2013 to 2020.

Companies operating in the market include parking sensor manufacturers as well as OEMs. Major automotive companies offer parking sensor systems, with optional LCD displays that show the distance between the vehicle and obstacle. Industry participants offer Advanced Driver Assistance Systems (ADAS), in order for the driver to make an informed decision. Key players in the market include Continental AG, Freescale Semiconductor Ltd., Robert Bosch GmbH, Texas Instruments Inc., BMW, Audi and Volkswagen among others.


For the purpose of this study, Grand View Research has segmented the parking sensors market on the basis of technology, installation and regional markets:

Parking Sensors Technology Outlook (Revenue in USD Million, 2012 to 2020)

Ultrasonic
Electromagnetic

Parking Sensors Installation Outlook (Revenue in USD Million, 2012 to 2020)

OEM
Aftermarket

Parking Sensors Regional Outlook (Revenue in USD Million, 2012 to 2020)

North America

North America Parking Sensors Market by Technology
Ultrasonic
Electromagnetic

North America Parking Sensors Market by Installation
OEM
Aftermarket
Europe

Europe Parking Sensors Market by Technology
Ultrasonic
Electromagnetic

Europe Parking Sensors Market by Installation
OEM
Aftermarket
Asia Pacific

Asia Pacific Parking Sensors Market by Technology
Ultrasonic
Electromagnetic

Asia Pacific Parking Sensors Market by Installation
OEM
Aftermarket
RoW

RoW Parking Sensors Market by Technology
Ultrasonic
Electromagnetic

RoW Parking Sensors Market by Installation
OEM
Aftermarket

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2016

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on