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
Currently, ultrasonic sensors represent the leading type among all the technologies
On the basis of component, hardware segment currently holds the majority of the market share
Among all the solution types, security and surveillance represents the leading category holding the largest share
Among all the verticals, comercial institutions currently represent the leading type accounting for the majority of the market share
Based on parking site, off-street parking currently accounts for the highest market share
On regional basids, North America represents the largest market and holds the largest market share
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?
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 siteBreakup 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, etcKey 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 Preface3 Executive Summary14 Value Chain Analysis16 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Smart Parking Market
6 Market Breakup by System
7 Market Breakup by Technology
8 Market Breakup by Component
9 Market Breakup by Solution
10 Market Breakup by Vertical Type
11 Market Breakup by Parking Site
12 Market Breakup by Region
13 SWOT Analysis
15 Porter’s Five Forces Analysis
17 Competitive Landscape
List of Figures
List of Tables
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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