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Smart Parking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • ID: 5530523
  • Report
  • January 2022
  • Region: Global
  • 136 Pages
  • IMARC Group

FEATURED COMPANIES

  • Aisin Seiki Co. Ltd
  • Continental AG
  • Kapsch TrafficCom AG
  • Robert Bosch GmbH
  • Smart Parking Ltd
  • TKH Group-Park Assist.
The global smart parking market reached a value of US$ 3.97 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 8.52 Billion by 2027, exhibiting a CAGR of 13.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor

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

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

The publisher’s 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

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global smart parking market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on system, technology, component, solution, vertical type and parking site

Breakup by System:

  • Guided Park Assist System
  • Smart Park Assist System

Breakup by Technology:

  • Ultrasonic Sensors
  • Radar Sensors
  • Image Sensors
  • IoT
  • Others

Currently, ultrasonic sensors represent the leading type among all the technologies

Breakup by Component:

  • Hardware
  • Software
  • Services

On the basis of component, hardware segment currently holds the majority of the market share

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

Breakup by Vertical Type:

  • Government and Municipalities
  • Commercial Institutions
  • Transport Facilities

Among all the verticals, comercial institutions currently represent the leading type accounting for the majority of the market share

Breakup by Parking Site:

  • Off-Street Parking
  • On-Street Parking

Based on parking site, off-street parking currently accounts for the highest market share

Breakup by Region:

  • North America
  • Europe
  • 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 Question Answered in this Report

1. What is the global smart parking market growth?
2. What are the global smart parking market drivers?
3. What are the key industry trends in the global smart parking market?
4. What is the impact of COVID-19 on the global smart parking market?
5. What is the global smart parking market breakup by technology?
6. What is the global smart parking market breakup by component?
7. What is the global smart parking market breakup by solution?
8. What is the global smart parking market breakup by vertical type?
9. What is the global smart parking market breakup by parking site?
10. What are the major regions in the global smart parking market?
11. Who are the key companies/players in the global smart parking market?
Note: Product cover images may vary from those shown

FEATURED COMPANIES

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

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 Impact of COVID-19
5.4 Market Breakup by System
5.5 Market Breakup by Technology
5.6 Market Breakup by Component
5.7 Market Breakup by Solution
5.8 Market Breakup by Vertical Type
5.9 Market Breakup by Parking Site
5.10 Market Breakup by Region
5.11 Market Forecast
6 Market Breakup by System
6.1 Guided Park 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 Transport Facilities
10.3.1 Market Trends
10.3.2 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
List of Figures
Figure 1: Global: Smart Parking Market: Major Drivers and Challenges
Figure 2: Global: Smart Parking Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Smart Parking Market: Breakup by System (in %), 2021
Figure 4: Global: Smart Parking Market: Breakup by Technology (in %), 2021
Figure 5: Global: Smart Parking Market: Breakup by Component (in %), 2021
Figure 6: Global: Smart Parking Market: Breakup by Solution (in %), 2021
Figure 7: Global: Smart Parking Market: Breakup by Vertical Type (in %), 2021
Figure 8: Global: Smart Parking Market: Breakup by Parking Site (in %), 2021
Figure 9: Global: Smart Parking Market: Breakup by Region (in %), 2021
Figure 10: Global: Smart Parking Industry: SWOT Analysis
Figure 11: Global: Smart Parking Industry: Value Chain Analysis
Figure 12: Global: Smart Parking Industry: Porter’s Five Forces Analysis
Figure 13: Global: Smart Parking Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 14: Global: Smart Parking (Guided Park Assist System) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Smart Parking (Guided Park Assist System) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Smart Parking (Smart Park Assist System) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Smart Parking (Smart Park Assist System) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Smart Parking (Ultrasonic Sensors) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Smart Parking (Ultrasonic Sensors) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Smart Parking (Radar Sensors) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Smart Parking (Radar Sensors) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Smart Parking (Image Sensors) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Smart Parking (Image Sensors) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Smart Parking (IoT) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Smart Parking (IoT) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Smart Parking (Other Technologies) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Smart Parking (Other Technologies) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Smart Parking (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Smart Parking (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Smart Parking (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Smart Parking (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Smart Parking (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Smart Parking (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Smart Parking (Security and Surveillance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Smart Parking (Security and Surveillance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Smart Parking (Valet and Parking Reservation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Smart Parking (Valet and Parking Reservation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Global: Smart Parking (License Plate Recognition) Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Global: Smart Parking (License Plate Recognition) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Global: Smart Parking (Government and Municipalities) Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Global: Smart Parking (Government and Municipalities) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Global: Smart Parking (Commercial Institutions) Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Global: Smart Parking (Commercial Institutions) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Global: Smart Parking (Transport Facilities) Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Global: Smart Parking (Transport Facilities) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Global: Smart Parking (Off-Street Parking) Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Global: Smart Parking (Off-Street Parking) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Global: Smart Parking (On-Street Parking) Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Global: Smart Parking (On-Street Parking) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: North America: Smart Parking Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: North America: Smart Parking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Europe: Smart Parking Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Europe: Smart Parking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Asia Pacific: Smart Parking Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Asia Pacific: Smart Parking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Middle East and Africa: Smart Parking Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Middle East and Africa: Smart Parking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Latin America: Smart Parking Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Latin America: Smart Parking Market Forecast: Sales Value (in Million US$), 2022-2027
List of Tables
Table 1: Global: Smart Parking Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Smart Parking Market Forecast: Breakup by System (in Million US$), 2022-2027
Table 3: Global: Smart Parking Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 4: Global: Smart Parking Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 5: Global: Smart Parking Market Forecast: Breakup by Solution (in Million US$), 2022-2027
Table 6: Global: Smart Parking Market Forecast: Breakup by Vertical Type (in Million US$), 2022-2027
Table 7: Global: Smart Parking Market Forecast: Breakup by Parking Site (in Million US$), 2022-2027
Table 8: Global: Smart Parking Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 9: Global: Smart Parking Market Structure
Table 10: Global: Smart Parking Market: Key Players
Note: Product cover images may vary from those shown
  • 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

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