Global Automotive Parking Assist System to Show Remarkable Growth Rate

Published On : 28 Dec 2018

Technology is the word that defines a new something and is not yea open for the world to experience. Technological advancement is yet to continue their entry into almost all aspects of life starting from scientific inventions and discoveries to health and medical science and now even in gaming, and the normal life of people. This has obviously made life easier for people for completing their day to day task and that too with much ease. The automotive parking system is one such advancement in current era, also known as parking assist system or PAS. This is an assisting device that utilizes ultrasonic waves in order to detect obstacles that appear to be in the blind spot of the rear and front part of the vehicle while one drives slowly and is making way for parking. This system detects such obstacles and warns the driver while he is steering and checking the rear so that he can take immediate parking decisions and avoid unwanted hustle while parking or even backing his car.

The global automotive parking assist system is built to enhance the safety and comfort of the driver especially in restricted environments where it takes more expertise and experience in terms of steering the vehicle. Coordination control and other such parking maneuver is achieved with the help of steering speed and angle so that the environment is also not disturbed and there is smooth driving and parking as well with mere expertise. Some of the major players of the global automotive parking assist system are Hyundai Mobis, Denso, Fujitsu, Valeo, BOSCH, and Delphi, apart from Toyota and Fords. The current scenario of competition is very high due to the presence of numerous players, however, prominent vendors are still dominating with better and more advanced features. 

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North America and Europe Closely Competing in Terms of Market Domination

As per geographical segmentation is concerned, the global market for automotive parking assist system is seen to be dominated by the North American region and Europe following closely. Europe is considered as the automotive hub owing to the presence and availability of the most updated and advanced components along with their invention centers. North America is seen to be dominating the market because of the immediate uptake of advanced automotive technology and the already present numerous manufacturers that are substantially boosting the market in the future years.

Main factors boosting the global market for automotive parking assist systems are the increasing number of traffic flow that ultimately results in rising number of road accidents. Because of this, there is increased awareness in terms of road and traffic rules and regulations. Although the high cost for installing these systems may give second thoughts to users and this may hamper the market growth. Nevertheless, the upgrading models and their varied features seems to serve as a opportunity of growth in the near future.

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