New Analysis from Global Industry Analysts Reveals Steady Growth for Automotive Intelligent Park Assist System, with the Market to Reach $31.6 Billion Worldwide by 2026

SAN FRANCISCO, Oct. 12, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Automotive Intelligent Park Assist System - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 9; Released: April 2021
Executive Pool: 15773
Companies: 20 - Players covered include Aisin World Corporation of America; Aptiv PLC; Clarion Co., Ltd.; Continental AG; HELLA GmbH & Co. KGaA; Magna International, Inc.; NXP Semiconductors NV; Robert Bosch GmbH; Siemens AG; Toshiba Corporation; Valeo SA; ZF Friedrichshafen AG and Others.
Coverage: All major geographies and key segments
Segments: Sensor Component (Ultrasonic Sensor, Ultrasonic Sensor & Camera, Camera); Technology (Autonomous Parking Assist, Semi-Autonomous Parking Assist); Vehicle Type (Passenger Cars, Commercial Vehicles)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Automotive Intelligent Park Assist System Market to Reach $31.6 Billion by 2026
Amid the COVID-19 crisis, the global market for Automotive Intelligent Park Assist System estimated at US$22.2 Billion in the year 2020, is projected to reach a revised size of US$31.6 Billion by 2026, growing at a CAGR of 5.8% over the analysis period. Passenger Cars, one of the segments analyzed in the report, is projected to record a 5.7% CAGR and reach US$26.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Commercial Vehicles segment is readjusted to a revised 6.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $6.4 Billion in 2021, While China is Forecast to Reach $6.5 Billion by 2026
The Automotive Intelligent Park Assist System market in the U.S. is estimated at US$6.4 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.5 Billion by the year 2026 trailing a CAGR of 8.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.