Automotive Parking Sensors Market Size to Grow by $ 7.28 bn through 2021-2025  

Technavio research projects the automotive parking sensors market to grow by $ 7.28 bn, accelerating at a CAGR of almost 18% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking

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Automotive Parking Sensors Market: Key Market Driver

One of the primary factors that will trigger the growth of the automotive parking sensors market size is Growing demand for assisted-parking systems. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Automotive Parking Sensors Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Analog Devices Inc., Aptiv Plc, Continental AG, CTS Corp., DENSO Corp., Murata Manufacturing Co. Ltd., NXP Semiconductors NV, Robert Bosch GmbH, SENSATA TECHNOLOGIES HOLDING PLC, and Valeo SA are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.

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