Parking Occupancy Sensing Global Market Report 2025

The parking occupancy sensing market size has grown strongly in recent years. It will grow from $3.35 billion in 2024 to $3.85 billion in 2025 at a compound annual growth rate (CAGR) of 15%. The growth during the historic period can be attributed to the increasing urban population density, the rising adoption of smart city infrastructure, the growing demand for energy-efficient traffic solutions, the increasing government investment in smart parking projects, and the rising consumer preference for seamless parking experiences.

The parking occupancy sensing market size is expected to see rapid growth in the next few years. It will grow to $6.67 billion in 2029 at a compound annual growth rate (CAGR) of 14.7%. The growth during the forecast period can be attributed to the rising investments in IoT-based parking solutions, the increasing integration of AI in parking systems, the growing adoption of mobile payment platforms, the expanding deployment of sensor and camera technologies, and the increasing focus on reducing carbon emissions. Key trends in the forecast period include advancements in AI-powered parking analytics, integration with smart city infrastructures, innovations in real-time occupancy detection, development of wireless sensor networks, and progress in automated parking guidance systems.

The increasing vehicle ownership is expected to drive the growth of the parking occupancy sensing market in the coming years. Vehicle ownership refers to the possession and registration of a motor vehicle by an individual or organization. Rising urbanization is contributing to higher vehicle ownership as more people move to cities seeking economic opportunities and personal mobility. Parking occupancy sensing systems support this growth by optimizing limited parking resources, reducing the time spent searching for parking, and improving urban traffic flow. For example, in April 2024, according to The Society of Motor Manufacturers and Traders (SMMT), a United Kingdom-based trade association representing the automotive industry, the total number of vehicles on UK roads reached a record high of 41.4 million in 2023, driven by a 1.6 percent increase in car ownership, reaching 35.69 million units. Therefore, the rising vehicle ownership is contributing to the growth of the parking occupancy sensing market.

Key companies operating in the parking occupancy sensing market are emphasizing technological advancements, such as smart truck parking availability systems, to improve logistics efficiency and driver safety. Smart truck parking availability systems are technology-driven solutions that utilize sensors, IoT, and real-time data analytics to monitor, predict, and display available parking spaces for trucks, enhancing efficiency and reducing idle time. For instance, in August 2025, Streetline, a United States-based intelligent transportation company, launched its AI-powered smart truck parking availability system along the I-10 corridor, featuring AI cameras for occupancy detection, dynamic space allocation, and integration with traffic management platforms. These features enhance operational performance in freight logistics by minimizing driver downtime, supporting hours-of-service compliance, and optimizing route planning. Despite challenges in infrastructure deployment and data integration, smart truck parking systems are expanding the scope of the parking occupancy sensing market by improving freight mobility, safety, and environmental sustainability.

In January 2025, Swarco, an Austria-based provider of intelligent transportation systems and traffic management solutions, acquired Lacroix Traffic, the traffic technology division of the French Lacroix Group, for an undisclosed amount. Through this acquisition, Swarco aims to strengthen its integrated intelligent transportation systems portfolio, expanding its capabilities and market reach in traffic and parking management, particularly across French-speaking and Spanish markets. Lacroix Traffic is a France-based company specializing in signal heads, controllers, variable message signs (VMS), cooperative ITS (C-ITS), and vehicle-to-everything (V2X) software solutions that enhance urban mobility and smart parking operations.

Major players in the parking occupancy sensing market are Robert Bosch GmbH, Siemens AG, SWARCO AG, Nedap N.V., INRIX Inc., ParkPlus Inc., Haltian Oy, Smart Parking Limited, Libelium Comunicaciones Distribuidas S.L., Sensit by Nedap, Worldsensing S.L., INDECT Electronics & Distribution GmbH, Amco S.A., Urbiotica S.L., CivicSmart Inc., Cleverciti Systems GmbH, Fybr Inc., Parklio d.o.o., Datakorum S.A., NODER S.A.

North America was the largest region in the parking occupancy sensing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in parking occupancy sensing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the parking occupancy sensing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The swift increase in U.S. tariffs and the ensuing trade tensions in spring 2025 are significantly affecting the transport services sector by driving up costs for vehicles, spare parts, and fuel, key inputs often sourced from tariff-affected regions. Freight operators, logistics providers, and public transportation systems are facing squeezed profit margins as higher equipment and maintenance costs coincide with limited ability to pass on these expenses to customers due to competitive pressures. The uncertainty has also delayed fleet modernization and the adoption of greener, more efficient vehicles, slowing progress toward sustainability goals. To adapt, transport firms are optimizing route planning, investing in fuel efficiency technologies, renegotiating supplier contracts, and exploring collaborative logistics models to share costs and mitigate the impact of higher tariffs.

The parking occupancy sensing market research report is one of a series of new reports that provides parking occupancy sensing market statistics, including the parking occupancy sensing industry global market size, regional shares, competitors with the parking occupancy sensing market share, detailed parking occupancy sensing market segments, market trends, and opportunities, and any further data you may need to thrive in the parking occupancy sensing industry. This parking occupancy sensing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Parking occupancy sensing refers to technology that detects the presence or absence of vehicles in parking spaces in real-time. Sensors are installed in or above parking spots and employ various detection methods such as ultrasonic, infrared, magnetic, or camera-based systems. The data collected by these sensors helps drivers locate available parking spaces quickly and aids in optimizing parking space utilization and management.

The key components of parking occupancy sensing are hardware, software, and services. Hardware includes the physical elements of the system, such as ultrasonic sensors, infrared sensors, camera-based sensors, radar sensors, and others that detect and monitor parking space availability. These systems are implemented in both on-street and off-street settings and support wired and wireless connectivity options. Key applications include commercial areas, residential complexes, government facilities, airports, shopping centers, hospitals, and others.

The parking occupancy sensing market consists of revenues earned by entities providing services such as real-time vehicle detection, parking space monitoring, sensor installation and maintenance, data analytics and management platforms, and integrated parking guidance systems. The market value includes the value of related goods sold by the service provider or included within the service offering. The parking occupancy sensing market includes sales of ultrasonic, infrared, radar, and camera-based sensors, real-time data analytics and management, integrated parking guidance and payment systems, and cloud-based remote monitoring solutions. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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