The Asia Pacific Smart Parking System Market is expected to witness market growth of 22.1% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Smart Parking System Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $3.04 billion by 2031. The Japan market is registering a CAGR of 21.3% during 2024-2031. Additionally, the India market is expected to showcase a CAGR of 22.8% during 2024-2031.
The market for smart parking systems is also being propelled by the increased focus on sustainability and the mitigation of transportation's environmental impact. Air pollution as well as climate change are largely caused by vehicle emissions, and urban mobility is essential to the formation of a city's environmental footprint.
Another trend shaping this market is the growing emphasis on automated and autonomous parking solutions. Automated parking systems (APS) use robotics and mechanical systems to park vehicles without human intervention. These systems maximize space utilization by eliminating the need for wide lanes and reducing the height between levels.
The Asia-Pacific market is expanding rapidly, driven by diverse factors ranging from urban congestion, demographic trends, and sustainability targets to the rise of electric vehicles and digital payments. Regional initiatives such as the ASEAN Smart Cities Network (ASCN) and country-specific strategies like K-Smart City and Smart Nation Singapore continue to propel the market forward. Asia’s mobility industry will grow in the coming decade, rising to over $570 billion by 2035. Asia’s mobility sector will be driven by rapid growth in car-as-a-service, micromobility, and digital services that accommodate the region’s preference for convenient travel and charging technologies to serve a high market share of electric vehicles. The demand for smart parking systems in China is experiencing a substantial increase, predominantly due to the government's aggressive Smart City Development initiatives, skyrocketing vehicle ownership, and rapid urbanization. Therefore, as governments and private stakeholders collaborate on digital infrastructure and IoT deployment, Asia Pacific is poised to be one of the fastest-growing regions in this market.
The China market dominated the Asia Pacific Smart Parking System Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $3.04 billion by 2031. The Japan market is registering a CAGR of 21.3% during 2024-2031. Additionally, the India market is expected to showcase a CAGR of 22.8% during 2024-2031.
The market for smart parking systems is also being propelled by the increased focus on sustainability and the mitigation of transportation's environmental impact. Air pollution as well as climate change are largely caused by vehicle emissions, and urban mobility is essential to the formation of a city's environmental footprint.
Another trend shaping this market is the growing emphasis on automated and autonomous parking solutions. Automated parking systems (APS) use robotics and mechanical systems to park vehicles without human intervention. These systems maximize space utilization by eliminating the need for wide lanes and reducing the height between levels.
The Asia-Pacific market is expanding rapidly, driven by diverse factors ranging from urban congestion, demographic trends, and sustainability targets to the rise of electric vehicles and digital payments. Regional initiatives such as the ASEAN Smart Cities Network (ASCN) and country-specific strategies like K-Smart City and Smart Nation Singapore continue to propel the market forward. Asia’s mobility industry will grow in the coming decade, rising to over $570 billion by 2035. Asia’s mobility sector will be driven by rapid growth in car-as-a-service, micromobility, and digital services that accommodate the region’s preference for convenient travel and charging technologies to serve a high market share of electric vehicles. The demand for smart parking systems in China is experiencing a substantial increase, predominantly due to the government's aggressive Smart City Development initiatives, skyrocketing vehicle ownership, and rapid urbanization. Therefore, as governments and private stakeholders collaborate on digital infrastructure and IoT deployment, Asia Pacific is poised to be one of the fastest-growing regions in this market.
List of Key Companies Profiled
- BMW AG
- Cisco Systems, Inc.
- Kapsch TrafficCom AG
- Libelium Comunicaciones Distribuidas S.L.
- Nedap N.V.
- Robert Bosch GmbH
- Siemens AG
- SWARCO AG
- INRIX, Inc.
- Continental AG
Market Report Segmentation
By Software
- Parking Guidance System
- Analytics Solutions
By Type
- On-street
- Off-street
- Garage Parking
- Lot Parking
By Service
- Consulting Service
- Engineering Service
- Mobile App Parking Service
By Hardware
- Smart Meters
- Cameras & LPRs
- Pucks (Wireless Sensors)
- Signage
- Parking Gates
By Application
- Commercial
- Government
- Transport Transit
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Asia Pacific Smart Parking System Market by Software
Chapter 5. Asia Pacific Smart Parking System Market by Type
Chapter 6. Asia Pacific Smart Parking System Market by Service
Chapter 7. Asia Pacific Smart Parking System Market by Hardware
Chapter 8. Asia Pacific Smart Parking System Market by Application
Chapter 9. Asia Pacific Smart Parking System Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- BMW AG
- Cisco Systems, Inc.
- Kapsch TrafficCom AG
- Libelium Comunicaciones Distribuidas S.L.
- Nedap N.V.
- Robert Bosch GmbH
- Siemens AG
- SWARCO AG
- INRIX, Inc.
- Continental AG
Methodology
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