A new study by Hexa
Research estimated that the global Parking Sensors Market was
worth more than $2,500 million in 2012. Parking sensors assist drivers in
parking their vehicles and alert them in case of an obstacle. They prevent
pedestrian injury. Increasing space crunch and altered dimensions of common
cars are paving the way for higher demand of parking sensors.
Based on technology, Hexa
Research segments the total global parking sensors market into ultrasonic and
electromagnetic sensors. Ultrasonic parking sensors contributed to more than
65% of the total market share in 2012. They are likely to continue market
dominance in the coming years. However, electromagnetic parking sensors will
witness faster growth with a CAGR of more than 19% from 2013 to 2020. These
sensors retain the aesthetic appeal of the vehicle and are self diagnostic.
They also come with a maintenance system.
Approximately 80% of the
market comprised of installations made by Original Equipment Manufacturers
(OEMs). They offer better construction and fitment and are therefore highly
preferred. These installations are priced much higher than those available in
the aftermarket segment, thus contributing to higher overall revenues.
Browse Details of Report @ https://www.hexaresearch.com/research-report/parking-sensors-industry/
Hexa Research observed that
North America, with more than 38% share, was a leading region in the global
parking sensors market in 2012. The region is expected to continue its
leadership in future owing to regulatory initiatives. European region will
generate demand for parking sensors in future due to rising sales of top-end
vehicles that are fitted with high-quality parking sensors. Asia Pacific is
likely to account for the fastest rise in future and will grow at a CAGR of 20%
from 2013 to 2020.
Key market operators in the
global parking sensors industry are Texas Instruments, Inc., Audi, Freescale
Semiconductor Ltd., Continental AG, Volkswagen, etc. The market includes both,
manufacturers of parking sensors and OEMs.
About Us:
Hexa Research is a market research and
consulting organization, offering industry reports, custom research and
consulting services to a host of key industries across the globe. We offer
comprehensive business intelligence in the form of industry reports which help
our clients obtain clarity about their business environment and enable them to
undertake strategic growth initiatives.
Contact Us:
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Hexa Research
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6265 Highway 9
Felton, California 95018
United States
Phone: +1-800-489-3075
Email: sales@hexaresearch.com
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