Over the past years, increasing complexity in parallel parking needs advanced technologies to overcome such difficulties. Therefore, more than 20 years back INRIA (Institut National de Recherche en Informatique et an Automatique) a France based research organization introduced a prototype for parallel parking which help to automate the parallel parking, now this techniques have been used in self-parking vehicles and most of the automotive and telematics vendors have been adopted this technology to resolve the parking issues across various premises including residential, commercial and industrial areas.
The Autonomous parking is the next evolution of self-parking. Autonomous parking eliminates the need of manual parking and lessen the complexity in parking. It has been observed that most of the customers are purchasing advanced vehicles which has automated features which require less human intervention while driving the vehicle. Therefore, increasing the demand for autonomous parking solutions which helps to develop self-parking features in vehicles to fulfil the customer requirements.
Autonomous Parking Market: Drivers and Restraints
The difficulties faced in parallel parking is eliminated with autonomous parking, which acts as a major driver in the autonomous parking market. Reduction in human efforts with more efficient and secure functioning increases its adoption, acting towards the growth of autonomous parking market. The concept in its development stage has caught the attention of many companies and researchers, further increasing its adoption and demand.
Only a few companies have adopted autonomous parking because of its complexity and less awareness. The higher cost further restricts the growth of the autonomous parking market.
Global Autonomous Parking Market Technology Trends
- Installation of ultrasonic sensors on the front and the rear bumpers of the car helps the machine in collecting the required knowledge for autonomous parking. The processing is same as that of a bat, for locating their way around.
- In addition to that, companies are focusing on the transition from semi-autonomous parking to fully autonomous parking solutions to fulfill the demand of customers.
Autonomous parking market: Regional Outlook
North America and Europe are the largest market for global autonomous parking market. Majority of autonomous parking providers such as Volkswagen, Robert Bosch LLC., Tesla, etc. are based in North America and Europe.
U.S. and Germany in North America and Europe regions are the major investors for autonomous parking technology. With the advancements of developing countries in APAC region also have started adopting autonomous parking feature in their vehicles.
Global Autonomous Parking Competitive Landscape
Volvo introduced a smart phone application, which on instructing automatically parks the respective vehicle at the specified location. The notification is dropped automatically to the user once the task is complete.
Some of the major global Autonomous Parking players are AB Volvo, Volkswagen, Toyota Motor Corporation, Ford Motor Company, BMW AG, Diamler AG, FCA US LLC., Tesla and Robert Bosch LLC.
The report covers exhaustive analysis on:
- Global Autonomous Parking Market Segments
- Global Autonomous Parking Market Dynamics
- Historical Actual Market Size, 2012 - 2016
- Global Autonomous Parking Market Size & Forecast 2017 to 2027
- Supply & Demand Value Chain for Autonomous Parking Market
- Global Autonomous Parking Market Current Trends/Issues/Challenges
- Competition & Companies involved in Autonomous Parking Market
- Autonomous Parking Technology
- Value Chain of Autonomous Parking
- Global Autonomous Parking Market Drivers and Restraints
Regional analysis for Global Autonomous Parking Market includes
- North America Market
- Latin America Market
- Rest of Latin America
- Western Europe Market
- Rest of Western Europe
- Eastern Europe Market
- Rest of Eastern Europe
- Asia Pacific Market
- Australia and New Zealand (A&NZ)
- Rest of Asia Pacific
- Japan Market
- Middle East and Africa Market
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Autonomous Parking Market: Market Segmentation
Global Autonomous Parking Market can be segmented into the following segments - based on Type, Deployment and verticals.
Segmentation on basis of Type for Autonomous Parking Market:
- Semi-automated: In semi-automated autonomous parking, the user is present in the car to input some information and perform some tasks manually
- Fully automated: In Fully automated autonomous parking eliminates the presence of the individual in the automobile for task completion
Segmentation on basis of Deployment for Autonomous Parking Market-
- Assisted: In assisted type autonomous parking, the user is present in the automobile
- Remote control: In remote control type autonomous parking, we can remotely access the automobile to complete the task
- Fully automatic: In fully automatic deployment user does not need provide any information, the vehicle get parked automatically without any human intervention
Segmentation on basis of Verticals for Autonomous Parking Market:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.