Parking Sensors Industry Trends, Market Outlook, Growth and Forecast up to 2020 by Grand View Research Inc
Browse Ongoing Reports @ http://www.grandviewresearch.com/ongoing-reportsThe global market for parking sensors is expected to reach USD 9,782.9 million by 2020, according to a new study by Grand View Research, Inc. 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.
The report “Parking Sensors Market Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/parking-sensors-market
Further Key findings from the study suggest:
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)
Parking Sensors Installation Outlook (Revenue in USD Million, 2012 to 2020)
Parking Sensors Regional Outlook (Revenue in USD Million, 2012 to 2020)
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