Global Parking Sensor Market Size, Share & Trends Analysis Report By Technology (Ultrasonic, and Electromagnetic), By Installation (OEM, and Aftermarket), By Regional Outlook and Forecast, 2024 - 2031

Global Parking Sensor Market Size, Share & Trends Analysis Report By Technology (Ultrasonic, and Electromagnetic), By Installation (OEM, and Aftermarket), By Regional Outlook and Forecast, 2024 - 2031


The Global Parking Sensor Market size is expected to reach $27.7 billion by 2031, rising at a market growth of 14.9% CAGR during the forecast period.

Europe has stringent automotive safety regulations that encourage or mandate the inclusion of advanced safety features, including these sensors, in new vehicles. Compliance with these regulations drives demand for these sensors across the region. Consequently, the European region would acquire nearly 30% of the total market share by 2031.

As consumers become more aware of the hazards associated with driving, there is an increasing demand for vehicles specifically designed to prevent accidents. In many regions, governments are introducing regulations that mandate the inclusion of certain safety features in vehicles, including these sensors. In conclusion, rising consumer demand for safety features drives the market's growth.

Additionally, Urbanization leads to a higher concentration of city vehicles, resulting in more crowded streets and parking lots. Likewise, modern cities are characterized by complex road networks and multi-level parking structures. Navigating these environments can be challenging, especially for inexperienced drivers. Thus, the surge in global urbanization is propelling the market's growth.

However, Advanced sensor systems, which often include features like 360-degree cameras, ultrasonic sensors, and radar technology, can be expensive. Advanced sensor systems may be inaccessible to a substantial portion of the population in regions with lower average incomes due to their high cost. Thus, the high costs of advanced parking systems are hampering the market's growth.

Technology Outlook

Based on technology, the market is divided into ultrasonic and electromagnetic. The electromagnetic segment attained 38% revenue share in the market in 2023. Electromagnetic sensors use magnetic fields to detect objects, providing precise information about the presence and location of obstacles.

Installation Outlook

On the basis of installation, the market is segmented into OEM and aftermarket. In 2023, the aftermarket segment attained 23% revenue share in the market. Installing these sensors in older vehicles can extend their usability and relevance. As vehicles age, owners may want to add new features to maintain their vehicle’s value and functionality, driving demand for aftermarket solutions.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed a 42% revenue share in the market in 2023. North America, particularly the United States and Canada, has many vehicles. High vehicle ownership rates drive demand for these sensors as more vehicle owners seek to enhance safety and convenience features.

Recent Strategies Deployed in the Market
  • >Aug-2024: Robert Bosch GmbH signed a partnership with PARK360, a smart parking & authorization solutions provider, to revolutionize parking with advanced technology and seamless solutions. Combining Bosch’s mobility expertise with PARK360’s smart parking systems, the partnership would provide innovative features, enhanced user experience, and scalable, sustainable solutions for urban and commercial spaces.
  • Jan-2024: Robert Bosch GmbH teamed up with Qualcomm, a semiconductor company, to unveil central vehicle computer integrating infotainment and ADAS functionalities on a single Snapdragon Ride Flex SoC. This platform supports diverse vehicle features, enhancing cost-effectiveness and scalability.
  • Jan-2024: Robert Bosch GmbH took over TSI Semiconductors, a semiconductor manufacturing company. This acquisition strengthens Bosch’s semiconductor capabilities and enhances its electromobility portfolio.
  • Jan-2024: NXP Semiconductors introduced the SAF86xx radar SoC, advancing automotive radar with integrated high-performance transceivers, processors, and secure data communication. It supports up to 1 Gbit/s data streaming, software-defined features, and Over-the-Air updates.
  • Nov-2023: Denso Corporation partnered with KOITO, an automotive lighting products manufacturer, to enhance nightime driving safety by integrating KOITO's advanced lighting technologies with DENSO's image sensor expertise. This partnership would improve object recognition and visibility at night.
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
Global Parking Sensor Market Report Segmentation

By Technology
  • >Ultrasonic
  • Electromagnetic
By Installation
  • >OEM
  • Aftermarket
By Geography
  • >North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA


Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Parking Sensor Market, by Technology
1.4.2 Global Parking Sensor Market, by Installation
1.4.3 Global Parking Sensor Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis – Global
4.1 Market Share Analysis, 2023
4.2 Recent Strategies Deployed in Parking Sensor Market
4.3 Porter Five Forces Analysis
Chapter 5. Global Parking Sensor Market by Technology
5.1 Global Ultrasonic Market by Region
5.2 Global Electromagnetic Market by Region
Chapter 6. Global Parking Sensor Market by Installation
6.1 Global OEM Market by Region
6.2 Global Aftermarket Market by Region
Chapter 7. Global Parking Sensor Market by Region
7.1 North America Parking Sensor Market
7.1.1 North America Parking Sensor Market by Technology
7.1.1.1 North America Ultrasonic Market by Region
7.1.1.2 North America Electromagnetic Market by Region
7.1.2 North America Parking Sensor Market by Installation
7.1.2.1 North America OEM Market by Country
7.1.2.2 North America Aftermarket Market by Country
7.1.3 North America Parking Sensor Market by Country
7.1.3.1 US Parking Sensor Market
7.1.3.1.1 US Parking Sensor Market by Technology
7.1.3.1.2 US Parking Sensor Market by Installation
7.1.3.2 Canada Parking Sensor Market
7.1.3.2.1 Canada Parking Sensor Market by Technology
7.1.3.2.2 Canada Parking Sensor Market by Installation
7.1.3.3 Mexico Parking Sensor Market
7.1.3.3.1 Mexico Parking Sensor Market by Technology
7.1.3.3.2 Mexico Parking Sensor Market by Installation
7.1.3.4 Rest of North America Parking Sensor Market
7.1.3.4.1 Rest of North America Parking Sensor Market by Technology
7.1.3.4.2 Rest of North America Parking Sensor Market by Installation
7.2 Europe Parking Sensor Market
7.2.1 Europe Parking Sensor Market by Technology
7.2.1.1 Europe Ultrasonic Market by Country
7.2.1.2 Europe Electromagnetic Market by Country
7.2.2 Europe Parking Sensor Market by Installation
7.2.2.1 Europe OEM Market by Country
7.2.2.2 Europe Aftermarket Market by Country
7.2.3 Europe Parking Sensor Market by Country
7.2.3.1 Germany Parking Sensor Market
7.2.3.1.1 Germany Parking Sensor Market by Technology
7.2.3.1.2 Germany Parking Sensor Market by Installation
7.2.3.2 UK Parking Sensor Market
7.2.3.2.1 UK Parking Sensor Market by Technology
7.2.3.2.2 UK Parking Sensor Market by Installation
7.2.3.3 France Parking Sensor Market
7.2.3.3.1 France Parking Sensor Market by Technology
7.2.3.3.2 France Parking Sensor Market by Installation
7.2.3.4 Russia Parking Sensor Market
7.2.3.4.1 Russia Parking Sensor Market by Technology
7.2.3.4.2 Russia Parking Sensor Market by Installation
7.2.3.5 Spain Parking Sensor Market
7.2.3.5.1 Spain Parking Sensor Market by Technology
7.2.3.5.2 Spain Parking Sensor Market by Installation
7.2.3.6 Italy Parking Sensor Market
7.2.3.6.1 Italy Parking Sensor Market by Technology
7.2.3.6.2 Italy Parking Sensor Market by Installation
7.2.3.7 Rest of Europe Parking Sensor Market
7.2.3.7.1 Rest of Europe Parking Sensor Market by Technology
7.2.3.7.2 Rest of Europe Parking Sensor Market by Installation
7.3 Asia Pacific Parking Sensor Market
7.3.1 Asia Pacific Parking Sensor Market by Technology
7.3.1.1 Asia Pacific Ultrasonic Market by Country
7.3.1.2 Asia Pacific Electromagnetic Market by Country
7.3.2 Asia Pacific Parking Sensor Market by Installation
7.3.2.1 Asia Pacific OEM Market by Country
7.3.2.2 Asia Pacific Aftermarket Market by Country
7.3.3 Asia Pacific Parking Sensor Market by Country
7.3.3.1 China Parking Sensor Market
7.3.3.1.1 China Parking Sensor Market by Technology
7.3.3.1.2 China Parking Sensor Market by Installation
7.3.3.2 Japan Parking Sensor Market
7.3.3.2.1 Japan Parking Sensor Market by Technology
7.3.3.2.2 Japan Parking Sensor Market by Installation
7.3.3.3 India Parking Sensor Market
7.3.3.3.1 India Parking Sensor Market by Technology
7.3.3.3.2 India Parking Sensor Market by Installation
7.3.3.4 South Korea Parking Sensor Market
7.3.3.4.1 South Korea Parking Sensor Market by Technology
7.3.3.4.2 South Korea Parking Sensor Market by Installation
7.3.3.5 Australia Parking Sensor Market
7.3.3.5.1 Australia Parking Sensor Market by Technology
7.3.3.5.2 Australia Parking Sensor Market by Installation
7.3.3.6 Malaysia Parking Sensor Market
7.3.3.6.1 Malaysia Parking Sensor Market by Technology
7.3.3.6.2 Malaysia Parking Sensor Market by Installation
7.3.3.7 Rest of Asia Pacific Parking Sensor Market
7.3.3.7.1 Rest of Asia Pacific Parking Sensor Market by Technology
7.3.3.7.2 Rest of Asia Pacific Parking Sensor Market by Installation
7.4 LAMEA Parking Sensor Market
7.4.1 LAMEA Parking Sensor Market by Technology
7.4.1.1 LAMEA Ultrasonic Market by Country
7.4.1.2 LAMEA Electromagnetic Market by Country
7.4.2 LAMEA Parking Sensor Market by Installation
7.4.2.1 LAMEA OEM Market by Country
7.4.2.2 LAMEA Aftermarket Market by Country
7.4.3 LAMEA Parking Sensor Market by Country
7.4.3.1 Brazil Parking Sensor Market
7.4.3.1.1 Brazil Parking Sensor Market by Technology
7.4.3.1.2 Brazil Parking Sensor Market by Installation
7.4.3.2 Argentina Parking Sensor Market
7.4.3.2.1 Argentina Parking Sensor Market by Technology
7.4.3.2.2 Argentina Parking Sensor Market by Installation
7.4.3.3 UAE Parking Sensor Market
7.4.3.3.1 UAE Parking Sensor Market by Technology
7.4.3.3.2 UAE Parking Sensor Market by Installation
7.4.3.4 Saudi Arabia Parking Sensor Market
7.4.3.4.1 Saudi Arabia Parking Sensor Market by Technology
7.4.3.4.2 Saudi Arabia Parking Sensor Market by Installation
7.4.3.5 South Africa Parking Sensor Market
7.4.3.5.1 South Africa Parking Sensor Market by Technology
7.4.3.5.2 South Africa Parking Sensor Market by Installation
7.4.3.6 Nigeria Parking Sensor Market
7.4.3.6.1 Nigeria Parking Sensor Market by Technology
7.4.3.6.2 Nigeria Parking Sensor Market by Installation
7.4.3.7 Rest of LAMEA Parking Sensor Market
7.4.3.7.1 Rest of LAMEA Parking Sensor Market by Technology
7.4.3.7.2 Rest of LAMEA Parking Sensor Market by Installation
Chapter 8. Company Profiles
8.1 Robert Bosch GmbH
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Acquisition and Mergers:
8.1.6 SWOT Analysis
8.2 Denso Corporation
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.6 SWOT Analysis
8.3 Aptiv PLC
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 SWOT Analysis
8.4 Valeo SA
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.6 SWOT Analysis
8.5 ZF Friedrichshafen AG
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 SWOT Analysis
8.6 Continental AG
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Partnerships, Collaborations, and Agreements:
8.6.6 SWOT Analysis
8.7 NXP Semiconductors N.V.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Regional Analysis
8.7.4 Research & Development Expenses
8.7.5 Recent strategies and developments:
8.7.5.1 Partnerships, Collaborations, and Agreements:
8.7.5.2 Product Launches and Product Expansions:
8.7.6 SWOT Analysis
8.8 Infineon Technologies AG
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.8.5 SWOT Analysis
8.9 Mercedes-Benz Group AG
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expense
8.9.5 Recent strategies and developments:
8.9.5.1 Product Launches and Product Expansions:
8.9.6 SWOT Analysis
8.10. Ford Motor Company
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Engineering, research, and development expenses
8.10.5 SWOT Analysis
Chapter 9. Winning Imperatives for Parking Sensor Market

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