Ultrasonic Park Assist Sensor Market

COVID-19 Impact Analysis

Since December 2019, the COVID-19 virus has been impacting businesses around the world. The constant rise in the number of virus-infected people has prompted governments to impose restrictions on people and commercial traffic. The implementation of a series of regulations by various governments to address the COVID-19 crisis, such as the complete shutdown of manufacturing units, has been found to have a direct impact on the development of the automotive ultrasonic park assist sensor market share.

Top Impacting Factors

One factor that is expected to drive the demand for ultrasonic park assist sensor market size in the coming years is an increase in customer demand for safety and comfort in cars. When the transmitter installed in one car uses a certain frequency channel that overlaps with the same frequency channel used by the other car, the receiving signal at each other's receivers may be corrupted due to signal interference, which is considered as a restraining factor for the ultrasonic park assist sensor market growth. 

Market Trends

New Product Launches to Flourish the Market

In October 2020, Robert Bosch LLC, a German multinational engineering and technology company, released its new advanced driver-assistance systems (ADAS) and body electronics catalogue. This new catalogue, available in ACES format, provides improved visibility, faster and more accurate information, and access to application data and images for over 230 ADAS and body electronics parts. It has several features such as park pilot ultrasonic parking sensors, which are simple-to-install sensors that detect the presence of an object around a vehicle, wheel speed sensors which are an important component of anti-lock braking systems (ABS) that transmits wheel speed data to various modules to determine safe braking and traction control and engine cooling fan, a critical component of a vehicle's cooling system that provides enough flow at idle to keep the vehicle from overheating while stuck in traffic.

Surge in Usage in Automobile Sector

Parking sensors are proximity sensors that are used in automobiles to allow the driver to safely park the vehicle. They are Advanced Driver Assistance Systems (ADAS), which alert the driver to any obstacles and are proving to be especially useful as parking spaces become scarce and the number of vehicles on the road increases. The average car's dimensions have been changing, making it more difficult to park without causing physical damage to the vehicle. Furthermore, parking sensors improve safety and can protect pedestrians from injury. Parking sensors are expected to see increased demand in the coming years as they can detect children, other vehicles, walls, pillars, fences, and other objects that are normally obscured from view. According to the Department of Transportation, a significant percentage of accidents happen while the vehicle is in reverse gear. Parking sensors, which are installed in the vehicle's rear bumper bar, can help to reduce these to a large extent. They can be color-coordinated with the exterior to maintain the vehicle's aesthetic value. They work in tandem with an internal buzzer or siren, the frequency of which gradually increases as the vehicle approaches an object. An optional LCD display that shows the distance between the vehicle and the object is also available. This serves as an effective warning to the driver, potentially preventing an accident. Typically, two or four sensors, as well as an internal siren and a control interface are used. Six or eight sensor systems, wired or wireless, may also be used for greater coverage.

Key Benefits of the Report

• This study presents the analytical depiction of the ultrasonic park assist sensor market opportunity along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the ultrasonic park assist sensor market share.
• The ultrasonic park assist sensor market trends is quantitatively analyzed to highlight ultrasonic park assist sensor market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed ultrasonic park assist sensor market analysis based on competitive intensity and how the competition will take shape in coming years

Questions Answered in Ultrasonic Park Assist Sensor Market Report

• What are the leading market players active in the ultrasonic park assist sensor industry?
• What are the current trends that will influence the ultrasonic park assist sensor market in the next few years?
• What are the driving factors, restraints, and opportunities in the ultrasonic park assist sensor market forecast period?
• What are the projections for the future would help in taking further strategic steps?
  • Upcoming Report Specific FAQs Examples:  
• What is ultrasonic park assist sensor?
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• Which technologies combine to make ultrasonic park assist sensor a critical organizational asset?
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