The global market for parking sensors is expected to reach USD 9,782.9 million by 2020, according to a new study by Grand View Research, Inc. Parking sensors prevent physical damage to the vehicle by alerting the driver when the automotive approaches an obstacle. Furthermore, they help prevent potential injury to pedestrians. These features are particularly useful in light of reducing parking spaces and changing dimensions of the average car, thus acting as a key driver for industry growth.
http://www.grandviewresearch.com/industry-analysis/parking-sensors-market
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