Impact Analysis of Covid-19
The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Summary
The global Automotive Smart Parking Systems market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
Overview
Automotive smart parking systems are used in the parking lots of many types of businesses. Most of these systems work on a smart chip that senses a person's height and weight, as well as other factors such as whether they are holding a cellular phone, or if they are in a moving vehicle. The system then creates a system that matches the specific needs of each customer with a specific type of access point for them to use. The global automotive smart parking systems market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global automotive smart parking systems market is expected to witness significant growth during the forecast period, owing to increasing demand for IoT-based technology.
Market Drivers
Increasing demand for vehicles leading to parking concerns is expected to drive growth of the global automotive smart parking systems market during the forecast period. According to the International Organization of Motor Vehicle Manufacturers (OICA), total vehicle production across the world was around 24,637,665 in 2019, increasing from 23,846,003 in 2017. Growing demand for commercial vehicles has increased its production globally. As a result of this, the challenges regarding parking spaces and systems have increased significantly. Hence, such factors are expected to drive growth of the global automotive smart parking systems market during the forecast period. Furthermore, increasing demand for IoT-based technology is expected to propel the global automotive smart parking systems market growth over the forecast period.
Market Restraints
High cost of implementation and growing cost of vehicles is expected to restrain growth of the global automotive smart parking systems market during the forecast period.
Regional Insights
Among regions, North America is expected to witness significant growth in the global automotive smart parking systems market during the forecast period. This is owing to the significant efforts taken by the U.S. and Canadian government authorities to reduce traffic congestion in the urban areas. Furthermore, Asia Pacific is expected to register a robust growth rate, owing to increasing number of municipalities in emerging economies such as China and India.
Competitive Section
Major companies involved in the global automotive parking systems market are Aisin Seiki, Xerox, CityLift, Hyundai Mobis, Amano, Continental, Siemens, Smart Parking, Kopach Trafficcom, Cisco System, Bosch, and Wohr Autoparksysteme.
For instance, in June 2020, Hyundai Mobis launched next-generation V2X control technology or Integrated Communication Controller in Korea to inform the driver of the best route and provide parking space information of the destination.
The Automotive Smart Parking Systems market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST, and Porter’s Five Forces analyses of the Automotive Smart Parking Systems market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- Aisin Seiki
- Amano
- Cisco Systems
- Continental
- Kapsch Trafficcom
- Nedap
- Bosch
- Siemens
- Smart Parking
- Xerox
- CityLift
- Hyundai Mobis
- Wohr Autoparksysteme
By the Product Type, the market is primarily segmented into:
- Hardware
- Software
- Service
By Applications, the market is segmented into:
- Transportation
- Government Facilities
- Commercial Area
- Other
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Automotive Smart Parking Systems market Report:
- To assess the size of the market by value and volume
- Analyze the Automotive Smart Parking Systems market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Automotive Smart Parking Systems market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Automotive Smart Parking Systems market
The Automotive Smart Parking Systems market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Automotive Smart Parking Systems market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
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