Wednesday, September 02, 2020 06:30 AM

INSIGHTS ON THE GLOBAL AUTOMOTIVE INTELLIGENT PARK ASSIST SYSTEM MARKET 2020-2024: COVID-19 ANALYSIS, DRIVERS, RESTRAINTS, OPPORTUNITIES, AND THREATS - TECHNAVIO - BUSINESS WIRE

LONDON--([1])--The automotive intelligent park assist system market is expected to grow by 10.48 million units, accelerating at a CAGR of over 16% during the forecast period. Download Free Sample Report[2]

The increasing use of rear-view cameras in vehicles is one of the major factors propelling the market growth. However, the high replacement cost of components in intelligent park assist systems will hamper the market growth.

Automotive manufacturers across the world are replacing rear-view mirrors with HD-rear view cameras that stream video on the display units installed on the dashboard. This is done to ensure better visibility during fog and eliminate blind spots by providing a wide field of vision. For instance, Cadillac is planning to replace rearview mirrors in all of its vehicles with video displays. The HD cameras that feature in the automakers offerings are claimed to reduce glare and produce a clear image even in low-light situations. This trend in the automotive industry is expected to have a positive impact on the growth of the global automotive intelligent park assist system market ...

News source: GOOGLE NEWS

See also: Lyle Industries