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Smart Parking Market Boom at a CAGR of 12.05%, Industry Demand, Business Review and Regional Analysis by 2027

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Arshad Shaha
Smart Parking Market Boom at a CAGR of 12.05%, Industry Demand, Business Review and Regional Analysis by 2027

"Smart Parking Market is valued at USD 4.80 Billion in 2017 and expected to reach USD 14.97 Billion by 2027 with a CAGR of 12.05% over the forecast period."

Increasing adoption of integrated automated solutions coupled with the advancements in wireless technologies and proliferation of digital payment technologies are some of the major factors expected to drive the growth of the Global Smart Parking Market.

Smart Parking Companies:
Global Smart Parking market Report covers prominent players are like 3M Co, Conduent Inc, Flowbird SAS, International Business Machines Corp, IPS Group Inc, Kapsch Aktiengesellschaft, Libelium Communications Distribuidas SL, Nedap NV, Siemens AG, SKIDATA AG and others.

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Scope of Global Smart Parking Market Report–

Smart Parking is a parking solution that includes in-ground smart parking sensors, cameras or counting sensors. Also it's a parking strategy that combines technology and human innovation in an attempt to use as few resources as possible as fuel, time and space to achieve faster, easier and denser parking of vehicles. The car parking system consists of wireless sensors, parking management system, parking guidance device, and smartphone app.

The sensors connected in parking spaces are used to collect the real-time data of the parking situation. The collected data are transmitted to the parking management system and evaluated. Some companies also offer other in-app information, such as parking prices and locations. This gives the possibility to explore every parking option available.

For example; smart parking using mobile IoT is one of the best tools a city has to solve parking and congestion issues. This guide explains how a city or parking operator can best approach a sensible parking project and what steps they need to require making sure success.

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Global Smart Parking market Segmentation:–

By Type: On-street, Off-street

By Technology: IoT, Ultrasonic, RFID

By Application: Security & Surveillance, Smart Payment System, E-parking, License Plate Recognition

By End-User: Commercial, Government

Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa

About us: Brandessence Market Research and Consulting Pvt. ltd.

Brandessence market research publishes market research reports & business insights produced by highly qualified and experienced industry analysts. Our research reports are available in a wide range of industry verticals including aviation, food & beverage, healthcare, ICT, Construction, Chemicals and lot more. Brand Essence Market Research report will be best fit for senior executives, business development managers, marketing managers, consultants, CEOs, CIOs, COOs, and Directors, governments, agencies, organizations and Ph.D. Students. We have a delivery center in Pune, India and our sales office is in London.

Contact us at: +44-2038074155 or mail us at [email protected] 

 

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