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Submitted 2018-06-26 09:15:21 A new study by Hexa Research estimated that the global parking sensors market was worth more
than $2 Cheap NFL Jerseys Wholesale ,500 million in 2012. Parking sensors assist drivers in parking their vehicles and alert them in case of an obstacle. They prevent
pedestrian injury. Increasing space crunch and altered dimensions of common cars
are paving the way for higher demand of parking sensors.

Based on technology, Hexa Research segments the total global parking sensors market into
ultrasonic and electromagnetic sensors. Ultrasonic parking sensors contributed
to more than 65% of the total market share in 2012. They are likely to continue
market dominance in the coming years. However, electromagnetic parking sensors
will witness faster growth with a CAGR of more than 19% from 2013 to 2020. These
sensors retain the aesthetic appeal of the vehicle and are self diagnostic. They
also come with a maintenance system.

Approximately 80% of the market comprised of installations made by Original Equipment Manufacturers (OEMs). They
offer better construction and fitment and are therefore highly preferred. These
installations are priced much higher than those available in the aftermarket
segment, thus contributing to higher overall revenues.

Hexa Research observed that North America, with more than 38% share Cheap NFL Jerseys Online , was a leading region in the global parking sensors market in 2012. The region is expected to continue its leadership in future owing to
regulatory initiatives. European region will generate demand for parking sensors
in future due to rising sales of top-end vehicles that are fitted with
high-quality parking sensors. Asia Pacific is likely to account for the fastest
rise in future and will grow at a CAGR of 20% from 2013 to 2020.

Key market operators in the global parking sensors industry are Texas Instruments,
Inc., Audi, Freescale Semiconductor Ltd., Continental AG Cheap NFL Jerseys Free Shipping , Volkswagen, etc. The market includes both, manufacturers of parking sensors and OEMs.
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Posted 15 Nov 2019

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Posted 18 Mar 2020

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