TechNavio recognizes the following companies as the key players in Global Autonomous Parking Market: Continental Automotive Systems, Hella KgaA Hueck & Co., Magna International Inc., Robert Bosch GmbH, TRW Inc., and Valeo SA.
Commenting on the report, an analyst from TechNavio’s team said: “A major trend being witnessed in the Global Autonomous Parking market is the increasing focus of vehicle manufacturers and electronics majors toward the development of driverless vehicles. Vendors are focusing on completely automating vehicle movement, include parking. These vehicles would have the capability to pick up people from their current location, drop them at a given location, and park the vehicle in the best possible spot. This technology is expected to be introduced in the market by 2020, and this would lead to the growth of the Global Autonomous Parking market during the forecast period. ”
According to the report, the main factor driving the market is the enhanced driver experience provided by autonomous parking systems. Drivers in cities face immense issues when parking due to the presence of restricted space. The available parking areas require most individuals to use the parallel parking technique, which is a major challenge for most drivers.
Further, the report states that the inaccuracy of autonomous parking systems is one of the major challenges faced by the vendors in the market. Though vendors providing autonomous car parking systems might declare that the product is error-free, it might not be able to assist a vehicle to park in a huge space that contains numerous vehicles with different parking systems.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-autonomous-parking-market-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/automotive-and-aerospace
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TechNavio Announces the Publication of its Research Report – Global Autonomous Parking Market 2014-2018
