Smart Parking Global industry – OverviewThe world is facing increasing urbanization while technology has been incorporated by cities for many years.
Smart parking is the most adopted and fastest growing solution across the Airports, universities, shopping centers and city garages.
It also makes parking more customer-friendly than ever before.
Increasing technological advancements, such as autonomous cars which is also called as self-driving cars and smart parking technologies with high investments for the development of smart cities by governments will offer potential growth opportunities for Smart Parking Global industry.
Moreover, Mobile applications on smart phones for the information of location, opening hours, tariff and facilities as well as can allow the driver to record the GPS location of their car in a crowded car park, with additional notes and photos and other helps the driver to rely on smart parking.The high growth rate in the registration of new cars worldwide, with major boom from regional economies such as Asia Pacific (APAC), will open the window of opportunities for parking management business.
Smart city concept is a new approach to redesigning cities and conceiving solutions to recent urban challenges such as traffic congestion, rapid expansion of urban population, increased energy consumption and increased greenhouse gas emission.