US Smart Parking Market (2022-2027) by Type, Technology, Application, End-User, Hardware, Service, Software Outlook, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

The US Smart Parking Market is estimated to be USD 1.33 Bn in 2022 and is expected to reach USD 2.26 Bn by 2027, growing at a CAGR of 11.22%.

Market Dynamics

Market dynamics are forces that impact the prices and behaviors of the US Smart Parking Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.

As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.

Market Segmentation

The US Smart Parking Market is segmented based on Type, Technology, Application, End-User, Hardware, Service, and Software Outlook.

• By Type, the market is classified into Off-Street, and On-Street.
• By Technology, the market is classified into Internet of Things (IoT), Ultrasonic, and RFID.
• By Application, the market is classified into Security and Surveillance, Smart Payment Systems, E-Parking, and License Plate Recognition.
• By End-User, the market is classified into Commercial, Government, and Transport Transit.
• By Hardware, the market is classified into Pucks, Cameras and LPRs, Smart Meters, Signage, and Parking gate.
• By Service, the market is classified into Consulting Services, Engineering Services, and Mobile App Parking Services.
• By Software Outlook, the market is classified into Parking Guidance System, and Analytics Solution.

Report Highlights:

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Aisin Seiki, Altiux Innovations, Amano McGann Inc, CivicSmart, Inc., Continental AG, Daimler AG, Flowbird, etc.

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the US Smart Parking Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses US Smart Parking Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position. Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the US Smart Parking Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market