Global Automotive Intelligence Park Assist System Market – Industry Analysis and Forecast (2019-2026)
- POSTED ON Saturday, March 20, 2021
Global Automotive Intelligence Park Assist System Market is segmented by technology, component, vehicle type and region. Technology is segregated into autonomous parking assist, semiautonomous parking assist.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Parking assist systems support drivers easily park in crowded parking lots to avoid hanging & collisions. The parking assist system is a necessary application of the car active collision avoidance system in low-speed and urban complex environments, and it is also an intelligent personification of the car active collision avoidance system. Key factors such as rising traffic flow & consequent increase in road accidents act as main driving forces for the automotive intelligence park assist system market. The increase in inhabitants worldwide resulted in traffic crowding, this, in order, caused the problem of lacking parking space. The upsurge in the rate of road accidents made the government bodies to execute stringent regulations for road safety. Governments had also undertaken some initiatives to encourage safety & to reduce car accidents. This, in turn, has increased the demand for automotive intelligence park assist system in the cars. Additionally, rising demand for autonomous & semi-autonomous cars delivers profitable business opportunities for the key players in the global automotive intelligence park assist system market.
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