New York, According to a new market research report published by Global Insight Services “Automotive Intelligence Park Assist System Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
The Automotive Intelligence Park Assist System is a driver assistance system that helps drivers parallel park their vehicles. The system uses sensors to measure the distance between the vehicle and the curb, as well as the width of the parking space. The system then calculates the best way to park the vehicle and provides the driver with instructions on how to do so.
The system can be used in both manual and automatic transmission vehicles. In manual transmission vehicles, the system will provide the driver with instructions on when to shift gears. In automatic transmission vehicles, the system will automatically shift the vehicle into the correct gear.
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Key Trends
Some of the key trends in automotive intelligence park assist system technology include the development of more sophisticated sensors, the use of artificial intelligence to improve accuracy, and the integration of park assist systems into other vehicle systems such as adaptive cruise control.
One of the most important trends is the development of more sophisticated sensors. These sensors are able to more accurately detect the location of obstacles and the available space for parking. This is important because it allows the system to more accurately guide the vehicle into a parking space.
Another trend is the use of artificial intelligence to improve accuracy. By using artificial intelligence, the system can learn from its mistakes and become more accurate over time. This is important because it can help to reduce the number of false positives and improve the overall reliability of the system.
Key Drivers
The key drivers of the automotive intelligence park assist system market are the rising demand for luxury vehicles and the increasing adoption of advanced driver assistance systems. The luxury vehicle segment is expected to grow at a faster pace during the forecast period, owing to the increasing disposable incomes and the preference for luxury cars among the affluent population.
The increasing adoption of advanced driver assistance systems is another key driver of the automotive intelligence park assist system market. The systems help in reducing the chances of accidents and improve the safety of the occupants. The systems are also beneficial in reducing the congestion on the roads and improving the fuel efficiency of the vehicles.
Market Segments
The Automotive Intelligence Park Assist System Market is segmented into vehicle type, application, vehicle class, and region. Based on the vehicle type, the global market is divided into passenger car, light commercial vehicles, and heavy commercial vehicles. Based on application, it is bifurcated into semi-autonomous and fully autonomous. Based on vehicle class, it is classified into mid-priced and luxury. Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Automotive Intelligence Park Assist System Market report includes players such as Aisin Seiki Co., Ltd., Continental AG, Delphi Automotive, Hitachi Ltd., Magna International, NXP Semiconductors, Robert Bosch GmbH, Siemens AG, Valeo SA, and ZF Friedrichshafen.
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Reasons to buy Automotive Intelligence Park Assist System Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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