Parking Occupancy Sensing Market Report 2026

The parking occupancy sensing market size has grown rapidly in recent years. It will grow from $3.85 billion in 2025 to $4.42 billion in 2026 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to expansion of urban vehicle density, growth of commercial parking facilities, increasing adoption of sensor-based monitoring, rising demand for efficient parking utilization, development of smart infrastructure projects.

The parking occupancy sensing market size is expected to see rapid growth in the next few years. It will grow to $7.64 billion in 2030 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to increasing investments in smart city initiatives, rising adoption of ai-based parking analytics, expansion of connected mobility ecosystems, growing focus on congestion reduction, increased deployment of wireless sensor networks. Major trends in the forecast period include increasing deployment of real-time parking sensors, rising adoption of smart city parking solutions, growing use of camera-based occupancy detection, expansion of data-driven parking management platforms, enhanced focus on urban mobility optimization.

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 companies operating 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 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the parking occupancy sensing market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the parking occupancy sensing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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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