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Smart Parking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

  • ID: 4828699
  • Report
  • Region: Global
  • 109 pages
  • IMARC Group
1 of 4


  • Aisin Seiki Co. Ltd
  • Continental AG
  • Kapsch TrafficCom AG
  • Robert Bosch GmbH
  • Smart Parking Ltd
  • TKH Group-Park Assist.
  • MORE
The global smart parking market reached a value of US$ 4.93 Billion in 2018. A smart parking system (SPS) optimizes parking spaces through automated access control systems, parking guidance systems (PGS), parking reserving barriers and ticketing systems. It utilizes mechanical arrangements to transport cars from one parking space to another and eliminate the wasted space in a multistory or single-story garage. It uses vehicle counting equipment, video cameras, automatic number plate recognition readers (ANPR) and pavement sensors to determine the occupancy of a parking lot and transmit the data to the control center in real time. It aims to assist in the smooth flow of traffic in congested areas and provide a systematic parking operation. It also guides users to available parking slots by navigating them via a smartphone application. When positioned as a system, smart parking saves time, decreases management costs and limits the cases of illegal parking in an area. Looking forward, the market is expected to reach levels worth US$ 11.59 Billion by 2024 exhibiting a CAGR of 13.4% during 2019-2024.

Rapidly increasing traffic congestion leading to limited space for smooth flow of traffic is the key factor contributing to the market growth. With growing urbanization and rising disposable incomes, there has been a rise in the preference for comfortable and luxurious cars. This has escalated the problem of on-road car parking, consequently resulting in the demand for smart parking systems. Additionally, an increase in governmental regulations for the development of green and smart cities, industrial parks and economic zones to reduce carbon dioxide emissions have also contributed to the demand for SPS. Moreover, the system is extremely convenient for the users as it reduces unnecessary paper consumption by replacing cash payments for parking with digital invoices sent directly on the user's smartphone. Furthermore, the thriving international tourism industry is expected to drive the market as these systems can aid in smooth parking operations in popular and congested tourist destinations.

This latest report provides a deep insight into the global smart parking systems market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the smart parking systems market in any manner

Report Coverage:

Historical, Current and Future Market Trends

Market Breakup by System:
Guided Park Assist System
Smart Park Assist System

Market Breakup by Technology:
Ultrasonic Sensors
Radar Sensors
Image Sensors
Currently, ultrasonic sensors represent the leading type among all the technologies.

Market Breakup by Component:
On the basis of component, hardware segment currently holds the majority of the market share.

Market Breakup by Solution:
Security and Surveillance
Valet and Parking Reservation
License Plate Recognition
Among all the solution types, security and surveillance represents the leading category holding the largest share.

Market Breakup by Vertical Type:
Government and Municipalities
Commercial Institutions
Corporate Institutions
Transport Facilities
Among all the verticals, comercial institutions currently represent the leading type accounting for the majority of the market share.

Market Breakup by Parking Site:
Off-Street Parking
On-Street Parking
Based on parking site, off-street parking currently accounts for the highest market share.

Market Breakup by Region:
North America
Asia Pacific
Middle East and Africa
Latin America

On regional basids, North America represents the largest market and holds the largest market share.

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Valeo S.A., Continental AG, Robert Bosch GmbH, Kapsch TrafficCom AG, Cubic Corporation, TKH Group-Park Assist., Streetline Inc., Cisco Systems Inc., ParkMe Inc., Urbiotica, Skidata AG, Amano McGann Inc., Swarco AG, Smart Parking Ltd, Nedap N.V., Delphi Automotive PLC, Aisin Seiki Co. Ltd, Siemens AG, Xerox Corporation, etc.

Key Questions Answered in This Report:

How has the global smart parking market performed so far and how will it perform in the coming years?
What are the key regional markets in the global smart parking industry?
What is the breakup of the market based on the system?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the component?
What is the breakup of the market based on the solution?
What is the breakup of the market based on the vertical type?
What is the breakup of the market based on the parking site?
What are the various stages in the value chain of the global smart parking industry?
What are the key driving factors and challenges in the global smart parking industry?
What is the structure of the global smart parking industry and who are the key players?
What is the degree of competition in the global smart parking industry?
Note: Product cover images may vary from those shown
2 of 4


  • Aisin Seiki Co. Ltd
  • Continental AG
  • Kapsch TrafficCom AG
  • Robert Bosch GmbH
  • Smart Parking Ltd
  • TKH Group-Park Assist.
  • MORE
1 Preface

2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Smart Parking Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by System
5.4 Market Breakup by Technology
5.5 Market Breakup by Component
5.6 Market Breakup by Solution
5.7 Market Breakup by Vertical Type
5.8 Market Breakup by Parking Site
5.9 Market Breakup by Region
5.10 Market Forecast

6 Market Breakup by System
6.1 Guided Assist System
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Smart Park Assist System
6.2.1 Market Trends
6.2.2 Market Forecast

7 Market Breakup by Technology
7.1 Ultrasonic Sensors
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Radar Sensors
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Image Sensors
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 IoT
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast

8 Market Breakup by Component
8.1 Hardware
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Software
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Services
8.3.1 Market Trends
8.3.2 Market Forecast

9 Market Breakup by Solution
9.1 Security and Surveillance
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Valet and Parking Reservation
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 License Plate Recognition
9.3.1 Market Trends
9.3.2 Market Forecast

10 Market Breakup by Vertical Type
10.1 Government and Municipalities
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Commercial Institutions
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Corporate Institutions
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Transport Facilities
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Others
10.5.1 Market Trends
10.5.2 Market Forecast

11 Market Breakup by Parking Site
11.1 Off-Street Parking
11.1.1 Market Trends
11.1.2 Market Forecast
11.2 On-Street Parking
11.2.1 Market Trends
11.2.2 Market Forecast

12 Market Breakup by Region
12.1 North America
12.1.1 Market Trends
12.1.2 Market Forecast
12.2 Europe
12.2.1 Market Trends
12.2.2 Market Forecast
12.3 Asia Pacific
12.3.1 Market Trends
12.3.2 Market Forecast
12.4 Middle East and Africa
12.4.1 Market Trends
12.4.2 Market Forecast
12.5 Latin America
12.5.1 Market Trends
12.5.2 Market Forecast

13 SWOT Analysis
13.1 Overview
13.2 Strengths
13.3 Weaknesses
13.4 Opportunities
13.5 Threats

14 Value Chain Analysis

15 Porter’s Five Forces Analysis
15.1 Overview
15.2 Bargaining Power of Buyers
15.3 Bargaining Power of Suppliers
15.4 Degree of Competition
15.5 Threat of New Entrants
15.6 Threat of Substitutes

16 Price Analysis

17 Competitive Landscape
17.1 Market Structure
17.2 Key Players
17.3 Profiles of Key Players
17.3.1 Valeo S.A.
17.3.2 Continental AG
17.3.3 Robert Bosch GmbH
17.3.4 Kapsch TrafficCom AG
17.3.5 Cubic Corporation
17.3.6 TKH Group-Park Assist.
17.3.7 Streetline Inc.
17.3.8 Cisco Systems Inc.
17.3.9 ParkMe Inc.
17.3.10 Urbiotica
17.3.11 Skidata AG
17.3.12 Amano McGann Inc.
17.3.13 Swarco AG
17.3.14 Smart Parking Ltd
17.3.15 Nedap N.V.
17.3.16 Delphi Automotive PLC
17.3.17 Aisin Seiki Co. Ltd
17.3.18 Siemens AG
17.3.19 Xerox Corporation
Note: Product cover images may vary from those shown
3 of 4


4 of 4
  • Valeo S.A.
  • Continental AG
  • Robert Bosch GmbH
  • Kapsch TrafficCom AG
  • Cubic Corporation
  • TKH Group-Park Assist.
  • Streetline Inc.
  • Cisco Systems Inc.
  • ParkMe Inc.
  • Urbiotica
  • Skidata AG
  • Amano McGann Inc.
  • Swarco AG
  • Smart Parking Ltd
  • Nedap N.V.
  • Delphi Automotive PLC
  • Aisin Seiki Co. Ltd
  • Siemens AG
  • Xerox Corporation
Note: Product cover images may vary from those shown