Market Share's Automotive Intelligent Park Assist System Market

Automotive Intelligent Park Assist System Market
Size, Drivers, Opportunities, Top Companies,
Trends, Challenges, & Forecast 2025
“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.”
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.
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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.