Automotive Intelligence Park Assist System Market Growth, Key Players, Analysis and Forecast to 2023

February 22, 2021

Market Highlights

Computer processor, sensors, and camera are the essential components of intelligence park assist systems used in vehicles. The use of intelligence park assist system helps to enhance performance, safety, tracking parking areas, and driving experience. The main features of automotive intelligence park assist systems allows parallel or reverse parking. Furthermore, the system is set in such a way that, as soon as the steering wheel is touched or brakes firmly pressed, the automatic parking disengages i.e. the vehicle cannot exceed the set speed.

The increasing demand for semi-autonomous vehicles, increasing concern over driver and vehicle safety, lack of parking space, and the increasing adoption of sensors and cameras in passenger and commercial vehicles are considered as the key driving factors for the growth of this market. The growing support from governments of various countries to reduce road accident is set to accelerate the growth of this market during the study period.

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