Global automotive intelligence park assist system market is anticipated to grow at a significant CAGR of 10.3% during the forecast period (2024-2031). The increasing demand for self-driving cars and improving technology advancements to enhance user experience is a key factor driving the growth of the global market. For instance,in August 2023, Bosch introduced hardware-only camera heads that emphasize Bosch's commitment to software-defined mobility. The company expands its portfolio for assisted and automated driving and parking, offering separate hardware and software components. Video-based sensors, like Bosch camera heads, enable advanced driver assistance functions, including park assist.
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AI-driven object detection enhances safety, facilitating features like automatic braking and adaptive cruise control. Additionally, in November 2023, Continental blends high-resolution surround radars with cameras, enabling precise measurements crucial for parking in tight spaces. Early detection of parking slots allows users to park seamlessly with a single manoeuvre. Compact radars, mounted discreetly behind painted bumpers, alongside cameras, offer a 360° view around the vehicle. This integration reduces vehicle complexity, enhances design freedom, and meets safety standards. Continental's solution manages and processes vehicle information efficiently, enhancing object detection and reducing accidents in parking garages while optimizing space utilization. These advancements promise convenience, comfort, and safety for end-users.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segments Covered-
o By Component
o By Technology
o By Vehicle
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Hitachi Ltd., Robert Bosch GmbH, Toshiba Corp., Aisin Seiki Co.,Ltd. Continental AG, Denso Corp. and among others.
Key questions addressed by the report.
Global Automotive Intelligence Park Assist Market Report Segment
By Component
By Technology
By Vehicle
Global Automotive Intelligence Park Assist System Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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