Automotive Intelligent Park Assist System Market Automotive Intelligent Park Assist System Market

Automotive Intelligent Park Assist System Market Key Players,
Trends, Growth Opportunities and Industry Forecast till 2025
“The growth of the Automotive Intelligent Park Assist
System Market is influenced by significant rise in traffic
flow that results in road mishaps (especially in populated
countries of Asia Pacific and others around the globe),
increasing government initiatives for reducing the rate of
road accidents worldwide”
Global automotive intelligent park assist system market is anticipated to grow significantly in the forecast
period owing to rise in the utility of rear-view cameras in automobiles. Automotive intelligent park assist
system is also termed as Advanced Parking Guidance System (APGS). Along with high efficiency of the
technology that helps the drivers in parking vehicle, it is plugged with several benefits. These comprise
eliminating stress and difficulty with respect to parallel parking, helping automobiles to fit in confined
parking spaces, reducing the traffic and time for parking issues and prevents scratches and minor dents on
the car by unskilled drivers.
The growth of the market is influenced by significant rise in traffic flow that results in road mishaps
(especially in populated countries of Asia Pacific and others around the globe), increasing government
initiatives for reducing the rate of road accidents worldwide. Moreover, growing number of manufacturers
who are integrating intelligent park assist systems in automobiles is accelerating the demand for the
products and thereby fueling the market growth. However, lack of awareness about the advantages of
intelligent park assist systems and limited funding is restricting the growth of the market.
Manufacturing companies are getting associated with the other automotive systems and technologies,
which are expected to bring opportunities in the market. Growing replacement of several parts of
intelligent park system is posing challenges in automotive intelligent park assist system market.