Global Market of Parking Assist/Automated Parking Systems: Key Research Findings 2017
Research Outline
- Research period: From March to June, 2017
- Research targets: Manufacturers of automobiles, car electronics, and etc.
- Research methodologies: Face-to-face interviews by the expert researchers, surveys via telephone/email, and literature research
What are Parking Assist/Automated Parking Systems?
Parking assist systems are those with automated steering operations, with no other functions, such as accelerators, brakes, and gear levers being automated and need to be operated by a human driver. Some advanced parking assist systems with all the operations being automated including steering, accelerators, brakes, and gear levers have started putting into use, though they need to be monitored by a driver. Remote parking systems are included in parking assist systems. On the other hand, automated parking systems do not need any drivers at present. Such a system enables the car to park without any driver on board (valet parking) by detecting a space to park after a driver gets off the car.
Note that the market size of the systems of both parking assist and automatic parking is calculated based on the number of systems installed in vehicles.
Summary of Research Findings
- Global Parking Assist System Market Size in 2016 Expanded to 4,552,550 Systems
The global parking assist system market in 2016 has expanded by 28.1% to achieve 4,552,550 systems in number installed in vehicles. Most of such systems are those that detect the peripheral environment of the vehicle by means of ultrasonic sensors or cameras embedded, having automated only the steering functions. Some luxury cars have started introducing some advanced parking assist systems since 2016 that have automated not only steering but also accelerators, brakes, and gear levers. Also, increasing number of remote parking systems have started being adopted, enabling the car to park by remote control after the driver gets off the car.
- CAGR of Global Parking Assist/Automated Parking Systems Market Size from 2015 to 2020 Likely to be 28%, with Market Size Expected to Attain 12,227,100 by 2020
Because introduction of parking assist/automated parking systems are to increase among the vehicles of middle-class or more, the global market size of these systems is likely to expand to 12,227,100 systems by 2020, with CAGR of the market from 2015 to 2020 expected to be 28%. The European market is likely to lead the market, primarily by German automakers, with higher percentage of parking assist systems installed in their cars. Automatic parking systems, without the need to be monitored by a driver, are regarded to be putting into use by 2020, at first in the car-sharing vehicles.
- Global Automated Parking System Market Size Expands to 8,223 Thousand by 2025
Whereas installation of automated parking systems is likely to increase primarily among luxury cars in 2020 and later, so is the case of parking assist systems with their introduction widened not only in middle-class but also in compact-class vehicles. Because the demands have expanded mainly for car-sharing vehicles, the global market of parking assist/automated parking systems are to attain 38,523,000 by 2025, among which automatic parking systems to grow to 8,223,000.
- Figure & Table 1. Forecast of Global Parking Assist/Automated Parking Systems Market Size
