Automotive Intelligence Park Assist System Market Propel Growth to USD 38.93 Billion by 2030

Automotive Intelligence Park Assist System Market

By vehicle type, the heavy commercial vehicles segment is expected to register a significant growth during the forecast period.

WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 20, 2024 /EINPresswire.com/ -- The global Automotive Intelligence Park Assist System Market was valued at $4.33 billion in 2020, and is projected to reach $38.93 billion by 2030, registering a CAGR of 24.9% from 2021 to 2030. Automotive intelligence park assist system is an advanced driver assistance system, which is installed in new vehicle models to provide safer & securer parking of the vehicle in tight parking space. Moreover, increased advancement in vehicle & related technology also supplements the automotive intelligence park assist system market during the forecast period. In addition, the installation of intelligence park assist system in a vehicle requires several components, such as sensors, camera, ICs, and other components, whose combination derives an exact image on the inbuilt display system of the vehicle, thus giving a clear view of the parking space.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 262 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A13654

Rise in parking concerns across the globe, demand for internet of things (IoT)-based technology, and rise in number of vehicles drive the growth of the global automotive intelligence park assist system market. However, high implementation cost & configuration complexity and low internet penetration in developing regions restrain the market growth. On the other hand, increase in investments on building driverless vehicles and supportive government initiatives in building smart cities worldwide create new opportunities in the coming years.

Based on application, the semi-autonomous segment contributed to the largest share in 2020, holding nearly 90% of the global automotive intelligence park assist system market, and is projected to continue its dominance throughout the forecast period. This is due to increased inclination of semi-autonomous vehicles worldwide. However, the fully autonomous segment is estimated to portray the largest CAGR of 29.2% from 2021 to 2030. This is attributed to introduction of features such as ADAS, connected cars, and others.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/automotive-intelligence-park-assist-system-market/purchase-options

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐑𝐨𝐛𝐞𝐫𝐭 𝐁𝐨𝐬𝐜𝐡 𝐆𝐦𝐛𝐇, 𝐇𝐢𝐭𝐚𝐜𝐡𝐢, 𝐋𝐭𝐝, 𝐍𝐗𝐏 𝐒𝐞𝐦𝐢𝐜𝐨𝐧𝐝𝐮𝐜𝐭𝐨𝐫𝐬, .𝐙𝐅 𝐅𝐑𝐈𝐄𝐃𝐑𝐈𝐂𝐇𝐒𝐇𝐀𝐅𝐄𝐍 𝐀𝐆, 𝐌𝐚𝐠𝐧𝐚 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐜., 𝐕𝐀𝐋𝐄𝐎, 𝐒𝐢𝐞𝐦𝐞𝐧𝐬, 𝐀𝐈𝐒𝐈𝐍 𝐒𝐄𝐈𝐊𝐈 𝐂𝐎., 𝐋𝐓𝐃, 𝐂𝐎𝐍𝐓𝐈𝐍𝐄𝐍𝐓𝐀𝐋 𝐀𝐆, 𝐃𝐞𝐥𝐩𝐡𝐢 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 (𝐬𝐮𝐛𝐬𝐢𝐝𝐢𝐚𝐫𝐲 𝐨𝐟 𝐁𝐨𝐫𝐠𝐖𝐚𝐫𝐧𝐞𝐫

Factors, such as increased parking concern across the globe, surge in demand for Internet of Things (IoT)-based technology, and increase in number of vehicles, supplement the growth of the global automotive intelligence park assist system market. Moreover, high implementation cost & configuration complexity accompanied with low rate of internet penetration in developing regions hampers the growth of the market. However, rise in investment on building driverless vehicles and increase in government initiatives in building smart cities across the globe create ample opportunities for the growth of the global automotive intelligence park assist system market during the forecast period.

Based on region, North America contributed to the largest market share in 2020, accounting for nearly two-fifths of the global automotive intelligence park assist system market. This is due to increase in technology driven companies and surge in R&D activities. However, Asia-Pacific is expected to register the fastest CAGR of 29.4% during the forecast period, owing to rise in need for vehicles equipped with advanced features across the region.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A13654

Based on vehicle type, the passenger car segment held the largest share in 2020, accounting for more than four-fifths of the global automotive intelligence park assist system market, and is projected to continue its lead position throughout the forecast period. This is due to its vital role in the transportation industry, introduction of safety & security features, and surge in penetration in different countries. However, the heavy commercial vehicles segment is expected to manifest the highest CAGR of 30.4% from 2021 to 2030. This is due to stringent regulations by government for safety features that enabled manufacturers use effective ADAS services such as height & pressure sensing system.

Most of the companies, such as Aisin Seiki, Continental AG, Robert Bosch, Valeo, Siemens, and others, have been operating in the global market and are offering their advanced products to vehicle manufacturers, thereby supplementing the growth of the market. For instance, in August, 2021, Continental AG acquired stake in Kopernikus Automotive, an artificial intelligence driven company for vehicle automated parking. The major focus is on infrastructure-based automated parking in parking garages and maneuvering in vehicle factories and logistics centers. In addition, in January 2021, Delphi Technologies introduced next-gen ADAS platform for highly automated and electrified vehicles that offers entry-level safety compliance to advanced highway pilot and parking assist to the vehicle. Such developments supplement the growth of the market across the globe.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A13654

The global automotive intelligence park assist system market size has been segmented into vehicle type, application, vehicle class, and region. Based on vehicle type, it 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. By region, the global market has been studied across North America, Europe, Asia-Pacific, and LAMEA.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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David Correa
Allied Market Research
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