The Automotive Automated Parking System market is anticipated to grow at a considerable CAGR of 15.4% during the forecast period. The primary factor that is fueling the market growth is the growing safety awareness among vehicle users in the past few years as road accidents growing significantly. As per the United Nations (UN) report, in December 2021, road accidents caused 1.3 million deaths every year. This has increased the demand for safety features in vehicles across the globe. The market players are also prioritizing the safety feature with rising demand.
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This has increased the demand for the automotive automated parking system among the other safety feature as it can safely park the vehicle without a driver. There are multiple vehicles which are offering automatic parking systems including 2019 – Lincoln Navigator, BMW 5 Series, Jaguar I-Pace, Volvo XC-40, Volkswagen GTi, BMW 2 Series, 2018 – Tesla Model 3, Mercedes Benz S Class, Mercedes Benz GLS, Ford F-150, Volkswagen Golf Estate, Ford Focus, Audi A8, Ford Expedition, and Tesla Model S.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Automotive Automated Parking System Market Report Segment
By Automation level
- Semi-Automated
- Fully-Automated
By System
- Hardware
- Software
By End-User
- Commercial
- Commercial
Automotive Automated Parking System Market Report Segment by Region
North America
- US
- 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
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the Automotive Automated Parking System market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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