The Europe Parking Sensor Market would witness market growth of 14.4% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Parking Sensor Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.77 billion by 2031. The UK market is exhibiting a CAGR of 13.4% during 2024-2031. Additionally, the France market would experience a CAGR of 15.4% during 2024-2031.
These sensors are used in vehicles designed for transporting children, such as school buses or daycare vans, to ensure safety during pickup and drop-off. They help prevent accidents by detecting obstacles around the vehicle. These sensors provide valuable data for fleet operators, offering real-time parking patterns and space utilization analytics. This data helps optimize fleet management and improve the efficiency of vehicle operations.
Furthermore, several factors, including technological advancements, regulatory requirements, and consumer preferences, have influenced the adoption of these sensors. Increased vehicle safety and accident prevention awareness have driven more consumers to seek advanced safety features, including these sensors. As safety becomes a higher priority, the adoption of these sensors in new and existing vehicles has grown.
The prevalence of single-vehicle crashes highlights the need for improved safety features. these sensors, which aid in preventing collisions and enhancing situational awareness, become more sought-after as a proactive safety measure in European vehicles. According to the European Road Safety Observatory, in the EU in 2020, 6,296 people were killed in a single-vehicle crash. 85% of all single-vehicle fatalities are men, compared to 78% for all road fatalities. In 2020, 33% of all serious injuries occurred in a single-vehicle crash. The high incidence of single-vehicle crashes can lead to stricter safety regulations and standards in Europe. This increased regulatory pressure encourages vehicle manufacturers to incorporate advanced safety technologies, such as parking sensors, to comply with new safety requirements. Thus, high single-vehicle crashes in the region are driving the growth of the market.
The Germany market dominated the Europe Parking Sensor Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.77 billion by 2031. The UK market is exhibiting a CAGR of 13.4% during 2024-2031. Additionally, the France market would experience a CAGR of 15.4% during 2024-2031.
These sensors are used in vehicles designed for transporting children, such as school buses or daycare vans, to ensure safety during pickup and drop-off. They help prevent accidents by detecting obstacles around the vehicle. These sensors provide valuable data for fleet operators, offering real-time parking patterns and space utilization analytics. This data helps optimize fleet management and improve the efficiency of vehicle operations.
Furthermore, several factors, including technological advancements, regulatory requirements, and consumer preferences, have influenced the adoption of these sensors. Increased vehicle safety and accident prevention awareness have driven more consumers to seek advanced safety features, including these sensors. As safety becomes a higher priority, the adoption of these sensors in new and existing vehicles has grown.
The prevalence of single-vehicle crashes highlights the need for improved safety features. these sensors, which aid in preventing collisions and enhancing situational awareness, become more sought-after as a proactive safety measure in European vehicles. According to the European Road Safety Observatory, in the EU in 2020, 6,296 people were killed in a single-vehicle crash. 85% of all single-vehicle fatalities are men, compared to 78% for all road fatalities. In 2020, 33% of all serious injuries occurred in a single-vehicle crash. The high incidence of single-vehicle crashes can lead to stricter safety regulations and standards in Europe. This increased regulatory pressure encourages vehicle manufacturers to incorporate advanced safety technologies, such as parking sensors, to comply with new safety requirements. Thus, high single-vehicle crashes in the region are driving the growth of the market.
List of Key Companies Profiled
- Robert Bosch GmbH
- Aptiv PLC
- Denso Corporation
- Valeo SA
- ZF Friedrichshafen AG
- Continental AG
- NXP Semiconductors N.V.
- Ford Motor Company
- Mercedes-Benz Group AG
- Infineon Technologies AG
Market Report Segmentation
By Technology
- Ultrasonic
- Electromagnetic
By Installation
- OEM
- Aftermarket
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Europe Parking Sensor Market by Technology
Chapter 6. Europe Parking Sensor Market by Installation
Chapter 7. Europe Parking Sensor Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Robert Bosch GmbH
- Aptiv PLC
- Denso Corporation
- Valeo SA
- ZF Friedrichshafen AG
- Continental AG
- NXP Semiconductors N.V.
- Ford Motor Company
- Mercedes-Benz Group AG
- Infineon Technologies AG
Methodology
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