Market Highlights
Automotive safety features such as airbags, anti-lock braking systems, central locking and parking sensors have witnessed a tremendous demand over the last three to five years. Increase in awareness regarding safety and increase in spending power of consumers have been the major factors that have driver the demand for these safety features.
Parking sensors, which are installed on the vehicle body, detect movable or stationary obstacles in the vehicle vicinity, and alert the driver while parking. These sensors get activated only at low speeds. Other factors responsible for the growth of this market include stringent safety regulations by automotive governing bodies, lack of parking spaces and increase in population and number of pedestrians on streets, especially in crowded metro cities. However, installation of these sensors increases the price of the vehicle, which is proving to be an obstacle to the growth of the market, in some developing countries.
Parking Sensors Market Research Methodologies
The analysts of the Parking Sensors Market adopt advanced decision science approaches to identify current growth avenues and quantify them according to various segments relevant to the industries analyzed in the study. The team is always keen on adopting the most suitable business research methodologies to obtain and analyze customer data—a mix of primary and secondary research--including surveys, focus groups, and qualitative analysis to throw light on the market. As a result, the readers and other market participants can obtain all-inclusive insights on analyzing the external and internal environments shaping the marketing strategies.
Value Chain Analysis of Parking Sensors Market: External & Internal Environment
The changing policy frameworks including monetary policies of governments and financial landscape exert a strong influence on the investments and R&D funding in the Parking Sensors market. Together with this, the insights in the study present a deep-dive analysis of technological developments, ecological environment, and political and economic risks. The evaluation of the industry value chain also includes how social and cultural factors have shaped consumer behavior in the Parking Sensors market.
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Parking Sensors Market: Strategies to Generate Customer Value
The MRFR report on the Parking Sensors market presents an in-depth evaluation of the potential revenue size in key consumer and industrial segments. The report by MRFR analysts takes a closer look at vertical and horizontal marketing strategies that will boost the profitability metrics of the companies in the Parking Sensors market. The study also scrutinizes distribution channel strategies while analyzing competitive strategies by leading companies in Parking Sensors market.
Some of the key questions scrutinized are
• Which are some of the market nicher and follower strategies that positively impact demand in the Parking Sensors market?
• What are some of the mergers and acquisitions and strategic alliances in recent years which have opened up new revenue streams in the Parking Sensors market?
• Which demographics-based segmentation should new entrants focus on to enter the Parking Sensors market?
• What are some of the strategic alliances between companies that have impacted the intensity of competition in the Parking Sensors market?
Global Parking Sensors Market Growth: Identifying and Analyzing Lucrative Regions and Countries
The business intelligence study on the Parking Sensors market identifies lucrative regions, emerging markets, and the key dynamics impacting the channels of distribution across the globe. The study presents the share of some of the developing and developed regions in the global Parking Sensors market. The authors have analyzed some of the recent policy changes that may hinder the growth potential of key Parking Sensors markets.
Key Players
The prominent players in the global Automotive Parking Sensors Market include Robert Bosch GmbH (Germany), Aptiv PLC (Greece), Denso Corporation (Japan), NXP Semiconductors N.V. (the Netherlands), Valeo (France), Autoliv Inc. (Sweden), Gentex Corporation (U.S.), Continental AG (Germany), TGS Group (UK) and Murata Manufacturing Co., Ltd. (Japan).
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