Technavio’s market research analysts predict the global automotive PAS market to grow at a CAGR of more than 11% from 2015 to 2019. The market is expected to grow at a steady pace during the forecast period.
The market is driven by the increasing use of cameras in vehicles. It offers improved visibility and 360 degree view of the rear of the vehicle, thus ensuring enhanced safety of pedestrians and vehicle. In addition, the market is also driven by the increasing demand for safety solutions, especially driver assistance systems such as lane assist systems (LAS), and pedestrian protection systems (PPS).
The market is also experiencing a shift in the focus of automobile manufacturers towards improving the functionality of automotive PAS systems by integrating with the cloud. This trend is expected to significantly propel the market in the coming years.
Geographical segmentation of the automotive PAS market
North America emerged as the largest market for PAS in 2014. With increased adoption of active safety systems in vehicles, the demand for PAS is expected to grow further in this region. Increasing pressure from governments is expected to result in high penetration of PAS systems in vehicles during the forecast period.
Automatic parking systems and the growth of automotive PAS
With the availability of limited parking space in the urban areas, parking a vehicle in a tiny spaces has become a key concern for vehicle owners. Vehicle equipped with intelligent or advanced or active PAS are integrated with lasers and sensors that are fitted on both sides of the vehicle to measure the space between parked vehicles.
When the system spots the available parking space the driver activates this system with the push of a button on the dashboard. As soon as the system is activated, with the help of sensors, it starts scanning and assessing a suitable gap for parking. Additionally, the sensors installed on the rear bumper measure the distance between vehicles parked in the rear and displays the visual of the space left with the driver while maneuvering. Key finding of this research report indicates, the need for parking assistance will significantly propel the demand for PAS systems in the future.
Vendor landscape of the global automotive PAS market
The global automotive PAS market is concentrated with the presence of few select vendors. During the forecast period, these market vendors will increasingly focus on integrating PAS with other automotive technologies.
Automobile manufacturers are expected to collaborate with automotive safety and automotive camera manufacturers to integrate radars and cameras that will combine video sensing, radar sensing, and data fusion in a single module.
Other prominent vendors of this market include Ford, Toyota, Denso, Magna International, Ficosa, Mando, and Renault.
Key questions answered in the report
What are the key factors driving the global automotive PAS market?
What are the key market trends impacting the growth of the global automotive PAS market?
What are the various opportunities and threats faced by the vendors in the global automotive PAS market?
Trending factors influencing the market shares of the global automotive PAS market?
Key outcome of the five forces analysis on the global automotive PAS market?
Growth forecast of the global automotive PAS market?